Kazakhstan is deeply committed to diversifying its economy outside of the lucrative energy and mining sectors. There are numerous other sectors where the country shows high growth potential in the coming years and the government is actively supporting investment in these areas through legal and financial means.
In June 2014, Kazakhstan announced that foreign investors in non-energy sectors would receive a 10-year tax break on corporate and land taxes. Special Economic Zones that focus on priority growth sectors allow for additional investment benefits, such as exemptions for corporate income taxes and rent-free land for 10 years.
The identified priority sectors are part of the government’s State Program of Accelerated Industrial and Innovative Development (SPAIID), a cornerstone of its economic goals.
- Kazakhstan ranks among the world’s top 20 oil producers, with the ninth-most proven reserves in the world and about a 2% share in global production.
- Kazakhstan holds 30 billion barrels (four billion tons) of proven recoverab... Read more
Finance & Banking
After almost three years of stagnation in the Kazakhstani credit market, loans to the economy by banks had been renewed. The volume of loans by banks increased by 15.7 percent and made up KZT 8.8 billion ($58.7 million). The volume of loans in... Read more
Mining & Smelting
Mining represents 27% of the country’s GDP and has immense growth potential.
70 elements have been explored and 60 extracted so far in Kazakhstan. Its mineral and resources base consists of 5,004 fields with a net worth of $46 trillion.... Read more
Agribusiness and agriculture combine to comprise a critical sector of the Kazakh economy. The ri... Read more
Transportation & Logistics
Being sandwiched between Europe and Asia, Kazakhstan boasts of a great transit potential, as there is no alternatives for Asian states to link to Russia and Europe. Relatively diverse landscape and availability of natural stone reserves allow u... Read more
Kazakhstan is well-positioned to develop a chemical production sector through its wealth of raw materials. Petroleum-related downstream products, such as phosphates and sulfuric acid, are part of this focus. The pharmaceutical sector will take ... Read more
Information Technology (ICT)
Technological innovation is at the forefront of efforts to diversify Kazakhstan’s economy. The government aims to become a major technological hub in Central Asia, focusing on ICT.
Kazakhstan’s strategic location between China and Europ... Read more
The production of machine equipment is vital to Kazakhstan’s development and relates to several other core economic goals, such as the growth of the energy and mining sectors as well as infrastructure.
Manufacturing that serves the coun... Read more
Kazakhstan’s pharmaceutical market, on the other hand, is the most accessible, transparent and, from a legislative point of view, progressive in Central Asia. Currently, some 70% of domestically consumed medicine is imported, while 30% are inte... Read more