International Business

Doing Business with Kazakhstan by Marat Terterov, Nadine Kettaneh

By Marat Terterov, Nadine Kettaneh

This 3rd version of Doing enterprise with Kazakhstan presents priceless, authoritative and functional suggestion at the enterprise and funding setting in Kazakhstan. the rustic has enormous common assets and one of many world's greatest oil, gasoline and mineral deposits. Astana has embarked upon an business coverage designed to diversify the economic system clear of over-dependence at the oil zone by way of constructing gentle undefined. The advisor bargains a special chance to survey a few of the country's shiny sectors and offers a robust creation to its huge, immense strength, together with an exam of banking, finance, tax and criminal concerns.

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At the time of this writing, the matter is not yet resolved and continues to be a source of conflict. The Ministry of Agriculture forecasts significant growth in grain sales for Kazakh producers in 2003, thanks to the increase in world grain prices. As of late June 2003 the state statistics agency was again reporting a positive trade balance. To achieve sustainable growth, the country needs to modernize its decaying infrastructure, develop higher value-added industries and the non-commodity economy, and boost intra-regional cooperation and integration.

Contributors to this book include Assistance LLC, McGuireWoods, Bracewell & Paterson, Denton Wilde Sapte and Macleod Dixon. There is also a special chapter provided by the US-Kazakhstan Business Association which highlights the cultural distinctions between Kazakhstani and broader European business practice – essential reading for anybody seriously contemplating the prospect of doing business in a country like Kazakhstan. 1 A Country Profile Steve Fast, Harvard University The Republic of Kazakhstan has only a brief history, having declared its independence on 16 December 1991, in the aftermath of the collapse of the Soviet Union.

5 per cent decline in GDP growth due to slumping oil prices, falling commodity prices and reduced demand from Asian consumers for Kazakhstan products as a result of the crisis in Asia. The ruble’s collapse in August 1998, and its consequences, effectively ended any hope of a speedy recovery of the Kazakhstan economy. Cumulative foreign investments, high oil prices, and conservative fiscal policies allowed Kazakhstan to achieve economic stability and growth by 2001, after weathering several years of financial crisis and reduced income from oil and agricultural commodities.

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