0 items USD 0.00Kazakhstan
Table of Contents
1 . 
Economical Environment
Kazakhstan is classified as an upper middle income economy in Eastern Europe and Central Asia. The country’s economy is estimated to grow to $365 billion by the end of 2018. Economic growth in Kazakhstan is primarily driven by domestic demand and high growth in exports. Private consumption and investments have boosted the economy during the last decade. The country’s economy decelerated against the backdrop of weak external demand and poor performance in mining and construction. Kazakhstan is heavily dependent on oil exports. This over dependence may lead to economic instability due to frequently fluctuating oil prices in international markets. The country’s high corruption rate compared to India, China, and the US leads to unethical business practices, which affect the business environment of the country. The country’s unique geographic location at the crossing of Europe and Asia make it an important transit point for traffic moving between significant markets in Europe and Asia. The country has great potential for mining as it has rich reserves of oil, gas, uranium, zinc, tungsten, barium, silver, lead, chrome, copper, fluorite, molybdenum, and gold.
Social Environment
Kazakhstan has an abundant supply of accessible mineral and fossil fuel resources. Development of petroleum, natural gas, and mineral extraction has attracted most of the over $40 billion in foreign investment in Kazakhstan since 1993 and accounts for some 57% of the nation's industrial output or approximately 13% of GDP. According to some estimates, Kazakhstan has the second largest uranium, chromium, lead, and zinc reserves, the third largest manganese reserves, the fifth largest copper reserves, and ranks in the top ten for coal, iron, and gold. It is also an exporter of diamonds. Perhaps most significant for economic development, Kazakhstan also currently has the 11th largest proven reserves of both petroleum and natural gas. Kazakhstan has stable relationships with all of its neighbors. Kazakhstan is also a member of the United Nations, Organization for Security and Cooperation in Europe, Euro-Atlantic Partnership Council and the Organization of Islamic Cooperation (OIC). It is an active participant in the North Atlantic Treaty Organization Partnership for Peace program.
Technological Environment
Kazakhstan is a developing country and from the last few years the country has been performing well, although Kazakhstan is also facing global economic crisis but they are able tos ustain their growth, because they have good short term policies by which they can manage the risk. There are new technologies are continually being developed. There are also changes to barriers to entry in given markets. At present, there are universities, academies and institutes, conservatories, higher schools and higher colleges. There are three main levels: basic higher education that provides the fundamentals of the chosen field of study and leads to the award of the Bachelor's degree; specialized higher education after which students are awarded the Specialist's Diploma; and scientific-pedagogical higher education which leads to the Master's Degree. PG education leads to the Candidate of Sciences and Ph. D. courses. With the adoption of the Laws on Education and on Higher Education, a private sector has been established and several private institutions have been licensed. In Kazakhstan, over 2,500 students in Kazakhstan have applied for student loans totaling about $9 million. The largest number of student loans come from Almaty, Astana and Kyzylorda.
3 . Future Trends in Kazakhastan
During his annual state of the nation address in Astana on 15 December 2012, President Nazarbayev introduced the new Kazakhstan 2050 Strategy, which is a state plan aimed at bringing Kazakhstan into the ranks of the world’s thirty most-developed countries by the middle of the twenty-first century. In addition, President Nazarbayev at his 2014 State of the Nation address, expanded on his strategic vision for the country, calling the Strategy 2050 a beacon, which will allow Kazakh people to achieve their goal while the government works on day-to-day living. He further outlined its implementation in two stages and its core principals.
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