A significant new study claims that an increasing number of international investors are turning their attention to Kazakhstan, including Franklin Templeton, VPE Capital, and Vedra Partners, PRNewswire reports.
OneWeb, a satellite company, and Honeywell, a US technology corporation, are the most recent businesses to start operations in Kazakhstan, demonstrating how economic and political changes are changing attitudes about the country and luring influential investors and businesses.
According to a report from The Chamber of International Commerce of Kazakhstan, the country is becoming more and more attractive as an investment due to its strong legal system, which includes the application of English Common Law in the Astana International Financial Centre, as well as its expanding industrial and business base that goes beyond its wealth of natural resources. These factors are supported by a young and educated population.
According to Marius Dan of Franklin Templeton, this is an interesting investment opportunity given Kazakhstan’s economic stability, wealth of natural resources, solid foundations of the commodity market, and President Tokayev’s political and economic reforms.
The Report cites Kazakhstan’s strategic location at the intersection of Eurasia as a key asset in fostering commerce and luring businesses to the country.
The largest trading partner of Kazakhstan is still the EU. According to the United Nations COMTRADE database, the EU imported $20.51 billion worth of goods from Kazakhstan in 2017. Additionally, more than 4,000 businesses with connections to Europe are now operating in Kazakhstan.
International investors have contributed more than $380 billion to Kazakhstan’s economy since the country gained its independence 31 years ago, accounting for 70% of all investments made in the Central Asian region during that time. In the second quarter of 2022, Kazakhstan’s FDI increased to $7.58 billion, the highest level in ten years.
The report comes to the conclusion that top international investors and corporations see Kazakhstan as becoming more attractive as an investment as it expands its economic horizons and simultaneously enters a new stage of its political development.
