Kazakhstan: Business environment at a glance

Kazakhstan: Business environment at a glance. Check it out:

(EIU Viewswire Via Thomson Dialog NewsEdge) COUNTRY VIEW

FROM THE ECONOMIST INTELLIGENCE UNIT

Policy towards private enterprise and competition

2007-08: In the few privatisations undertaken, the government seeks to retain control of key assets.

2009-11: As the economy approaches full capacity, there is a growing incentive to resume restructuring and large-scale privatisation. However, these processes favour domestic or Russian enterprises over Western ones.

Policy towards foreign investment

2007-08: The government increases its presence in the hydrocarbons sector by seeking a stake in all major projects.

2009-11: There are fewer contract disputes, but corruption and bureaucratic red tape continue to cause difficulties.

Foreign trade and exchange controls

2007-08: Kazakhstan joins the World Trade Organisation (WTO) at the same time as Russia. This forces the government to undertake some reforms, but implementation of trade liberalisation continues to be hindered by informal trade barriers.

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2009-11: Progress is made on removing protectionist measures in agriculture, under the terms of WTO accession.

Taxes

2007-08: The government progressively shifts the tax burden on to subsurface users and other firms in the extractive sector.

2009-11: Tax evasion and poor administration continue to pose problems. Value-added tax (VAT) rate is cut from 15% to 13%.

Financing

2007-08: Banking sector consolidation proceeds, and financial supervision strengthens. Development of a corporate bond market provides a further source of finance for some large enterprises.

2009-11: Finance available for domestic investment rises, partly owing to efforts by the central bank to mobilise savings.

The labour market

2007-08: Labour mobility remains very low, accentuating sharp regional and sectoral disparities in wage earnings.

2009-11: The size of the workforce increases as a result of improving demographics and net immigration. Wages spike in 2011 ahead of the 2012 presidential election.

Infrastructure

2007-08: The government seeks to improve transport, communications and energy distribution networks.

2009-11: Infrastructure development is uneven, but telecommunications booms as network upgrades are completed.

Copyright 2006 Economist Intelligence Unit

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September 29, 2006 12:45 AM

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