4 recent achievements of Kazakhstan that are actually boosting foreign direct investment

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For over 20 years the country has experienced substantial transformation. Since then accelerated economic growth has been achieved through planning, long-term development, and economic growth initiatives.

The following achievements are the most impressive:

1. STRENGTHENED GOVERNMENT AND UNITY

The Kazakh government consistently develops civil institutions based on a democratic development model. As such a Human Rights Ombudsman institution was set up in the country. Whereas in the past Kazakhstan has never had a multiparty system, today there are parties representing the entire political spectrum of the country. There is a multiparty Parliament and a majority government.

It is worth mentioning that in the country 2,500 independent media outlets are functioning, 90% of which are private. There are over 18,000 non-government organizations of various orientations.

Kazakhstan is an important international center of inter-cultural and inter-religious dialogue. Kazakhstan hosted the first four Congresses of the Leaders of World and Traditional Religions.

As this century progresses, Kazakhstan is becoming a bridge for dialogue and interaction between East and West.

2. ECONOMIC GROWTH BASED ON OPEN MARKET ECONOMY WITH A HIGH RATE OF FOREIGN INVESTMENT

The country aims to achieve feasible, sustainable and growing rates of development.

Kazakhstan’s GDP increased 16 fold since 1999. Since then, the annual GDP growth equaled 7.6%. From the very outset, Kazakhstan has become a top CIS country in terms of its per capita FDI. Based on the data of the Trade Economics, in 2013, the country saw the highest GDP that amounted to 236,6 billion USD. In 2017, the GDP equaled to 138,0 billion USD. Kazakhstan has reached considerable growth of its foreign trade and has experienced an increase in its industrial output.

Carrying out the accelerated industrialization program since 2010, 397 investment projects were implemented and created over 44,000 jobs. 225 projects have been approved over the two years of implementation of the “2020 Business Roadmap” program.

3. INFRASTRUCTURE AND TRANSPORTATION

The government initiated and supported a development of infrastructure. Over recent years a number of major infrastructure projects were launched that includes highways and railroads, pipelines, logistics centers, terminals, airports, train stations and ports.

All of these projects have created jobs and integrated the country into the regional and global economic system. Over the last 18 years, the highway development sector has built and reconstructed over 48,000 km of public highways, as well as 1100 km of railways.

Strategically, the country links the large and fast-growing markets of China and South Asia and those of Russia and Western Europe by road, rail, and a port on the Caspian Sea. The Kazakh government is reviving a New Silk Road by setting up a “Western Europe – Western China” transportation corridor. An access to the Gulf and Middle East countries was opened by building the “Uzen – Turkmenistan border” railroad. Having put together the “Korgas – Zhetygen” railway, the country has opened the “eastern gate” paving the way towards the markets of China and all of Asia. The construction of the “Zhezkazgan – Beineu” railway allowed to join together Kazakh regions and deliver goods to the Caspian territory.

4. E-GOVERNMENT AND PROFESSIONAL STATE

The government launched initiatives to create an electronic government and a modern and efficient managers corps. Electronic government has fostered business development by reducing the time and number of procedures treated. A system of screening and promoting human resources was established where citizens have equal rights and opportunities that ensure a high professional level and transparency of government activities. As well a significant change in the public administration was achieved shifting its focus towards improving the quality of public services.

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