STEPPE TO STABILITY

Kazakhstan 2014 | DIPLOMACY | INSIDE PERSPECTIVE

Challenging developments in the world economy are posing fresh challenges; yet amid this global economic turmoil, Kazakhstan has displayed stable growth. In 2013, its GDP rose by 6%, and we are expecting to maintain the same growth rate this year.

HE Nursultan A. Nazarbayev
BIOGRAPHY
Nursultan A. Nazarbayev began his working career in 1960 at the Karaganda Metallurgical Industrial Complex. He entered politics in 1969 in the Karaganda region. In 1979, he worked as Secretary for the Central Committee of the Communist Party of Kazakhstan. In 1984 he then became Chairman of the Ministers Council. Between 1989 and 1991 he served as the First Secretary of the Central Committee of the Communist Party of Kazakhstan and Chairman of the High Council of Kazakhstan. He has served as the President of Kazakhstan since the nation achieved its independence in 1991.

Kazakhstan has implemented an industrialization program that has resulted in the launching of around 800 production facilities, having created 150,000 jobs over the past four years. Today, there are more than 250 new products being manufactured. Kazakhstan has also continually improved its business environment standing among international rankings. Meanwhile, over $170 billion in foreign investment has been made in the country.

The growth rate, combined with improvements in quality, has resulted from an ambitious strategy to foster economic diversification. Remarkably, the growth rate of manufacturing industries has now exceeded those of the extractive sector.

Implementation of the industrial program has enabled the setting up not only of individual production facilities, but also of entire sectors of the manufacturing industry, such as transport machinery. While initially a great effort was devoted to the setting up of new companies, the emphasis has now been placed on innovative industries.

“ Kazakhstan has implemented an industrialization program that has resulted in the launching of around 800 production facilities, having created 150,000 jobs. "

At the same time, we are working to enhance the efficiency of the extractive industry, which provides the existing competitive advantage of the economy. New approaches in extraction, manufacturing, and management have been adopted across this segment accordingly.

Kazakhstan is an open economy and is linking its continued growth with expansion into new global markets and increasing foreign investment opportunities in the extractive industry, as well as in transport machinery, agriculture, tourism, and high-tech projects. We are constantly working to further improve the business climate.

Therefore, the importance of the CIS Customs Union established by Kazakhstan, Russia, and Belarus is growing. It strengthens the Kazakhstani economy, while also opening up a large market to investors. This regional organization is gaining increasing authority in the arena of international economic relations.

Currently, the member-states of the Customs Union are working toward the next stage of integration: establishing the Eurasian Economic Union. Acknowledging the inviolability of national sovereignty, the Union will allow the lowering of more economic barriers and the creation of a free business environment.

The World Expo 2017 in Astana will promote economic ties with our international partners. It will not only address innovations in renewable energy and the green economy in general, but also promote the establishment and enforcement of partnerships in the sector.

The furthering of Kazakhstan's integration with the global economy and the nurturing of mutually beneficial partnerships will ensure that the country joins the world's top-30 economies. Ultimately, this can only improve business opportunities in the country.