Kazakhstan experienced impressive economic growth over the past ten years before also falling victim to the drop in oil prices and currency fluctuations. The crisis in Russia, its most important trading partner, also played a role. Thanks to state programs, however, there is still major investment in infrastructure and in industry modernization. Kazakhstan is part of the Eurasian Economic Union between Russia, Belarus, Kyrgyzstan and Armenia. This means that foreign companies not only gain access to a domestic market of 18 million people, but potentially also to a total of around 200 million throughout the economic union. Access to the market is not easy, with special import requirements, certifications and bureaucracy all making the transport of goods to the transcontinental country more difficult. Its WTO membership does, however, guarantee good legal and planning certainty for foreign companies. Kazakhstan generally offers good conditions for foreign companies and is therefore frequently selected as a company base for all of Central Asia.
The country itself is investing in the expansion of its infrastructure and in industrial modernization. It is also making efforts to privatize certain state-owned businesses. The country is most interesting for the MEM, infrastructure, food processing and medical technology sectors as well as the chemical supplier industry.
