Kazakhstan is one the former Soviet republics located in Central Asia. It is the largest landlocked country in the world and the ninth largest in the world in terms of size. In the investment world, the market is considered as a Frontier Market.
The following are eight economic facts about Kazakhstan:
- The country is strategically located on the corridor linking China with Russia and Europe making it the “Buckle” of China’s Belt and Road Initiative (BRI).
- Kazakhstan leads Central Asia in economic growth and Foreign Direct Investment (FDI).
- It joined the World Trade Organization(WTO) in 2015.
- About 9,000 foreign firms operate in the country.
- The Corporate tax rate is 20% and the personal income tax rate is 10% for residents.
- Investment in transportation infrastructure has been huge. The 2,700 km Kazakh part of the highway network connecting Western China and Europe has been completed and so is the rail network connecting China with Europe.
- Kazakhstan ranks 28th among 190 countries in The World Bank Ease of Doing Business Index.
- In 2017, the top five major export markets were Italy, China, The Netherlands, Russia and Switzerland.
Source: Why Invest in Kazakhstan? ad in BusinessWeek
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