Year In Review

Good Mood

The government had its hands full mitigating a broad spectrum of economic and diplomatic challenges in 2014, but the country is in good hands, and its long-term prospects have never been better.

Review: Diplomacy

Asia Central

As Kazakhstan seeks to expand its diplomatic footprint, the country's economic interests are at the forefront of its mind. With reduced barriers to entry, and promotion abroad, the country is becoming a destination for business and travel.

Inside Perspective

HE Nursultan A. Nazarbayev, President, Republic of Kazakhstan

HE Nursultan A. Nazarbayev, President of the Republic of Kazakhstan, on the country's challenges for 2015 and plans for the future.

Guest Speaker

Vladimir Putin, President, Russia

Vladimir Putin, President of Russia, on the benefits of the Eurasian Economic Union (EEU).

Focus: Euriasian Economic Union

Eastern Approaches

Entry into the Eurasian Economic Union (EEU) heralds the establishment of a new market that will allow Kazakhstani goods and services to compete in a much larger economic area.

Guest Speaker

Barack Obama, President, United States

Barack Obama, President of the United States, on nuclear security and Kazakhstan's efforts at the international level.

Guest Speaker

David Cameron, Prime Minister, UK

David Cameron, Prime Minister of the UK, on ties between the two nations, strengthening regional relations, and educational cooperation.

Guest Speaker

His Majesty Hamad bin Isa Al Khalifa, King, Bahrain

His Majesty Hamad bin Isa Al Khalifa, King of Bahrain, on economic cooperation, the Joint Bahrain-Kazakhstan Business Council, and the development of bilateral ties.

Guest Speaker

Carlo Calenda, Italian Deputy Minister, Economic Development

TBY talks to Carlo Calenda, Italian Deputy Minister for Economic Development, on bilateral relations between Kazakhstan and Italy.

Focus: WTO Membership

Gaining Currency

Membership in the WTO is imminent, and along with enhanced trade relations, meeting the requirements of membership in the organization is bringing Kazakhstan's legal system and business practices in line with global norms.

Review: Economy

Stay Sanguine

While President Nazarbayev has warned of hard times ahead, a closer look at the country's strong regional position and ability to attract investment shows that the fundamentals of the economy are strong and the smart money is still on long-term growth.

Interview

Erlan Sagadiev, Vice Minister, Investment and Development

TBY talks to Erlan Sagadiev, Vice Minister of Investment and Development, on reforms in the industrial sector and current investment policy in the country.

Interview

Borisbiy Zhangurazov, Chairman, KAZNEX INVEST

TBY talks to Borisbiy Zhangurazov, Chairman of KAZNEX INVEST, on developing the country's reputation, attracting FDI, and new opportunities for diversification and trade.

Interview

Doris Bradbury, Executive Director, American Chamber of Commerce (AmCham)

TBY talks to Doris Bradbury, Executive Director of the American Chamber of Commerce (AmCham) in Kazakhstan, on promoting economic reform, engendering government-private sector cooperation, and creating space for international investment.

Focus: EXPO

Brand New

Expo 2017 is an unprecedented opportunity for the country to flaunt its advances of the last two decades. But beyond exposure, businesses in the country are enthusiastic about the financial windfall.

Interview

Talgat Yermegiyaev, Chairman of the Executive Board , Astana EXPO-2017” National Company JSC

TBY talks to Talgat Yermegiyaev, Chairman of the Board of the “Astana EXPO-2017" National Company JSC, on the longer-term benefits of Expo 2017 for Astana and the wider economy.

Forum: Why Kazakhstan?

Steppe Up Your Expectations

In terms of business climate, growth potential, and natural resources, Kazakhstan is fertile ground for both multi-nationals and local firms looking to expand into the region.

Focus: Business Confidence

The Long Haul

An expected decrease in GDP growth for 2015 is not stopping many firms in Kazakhstan from ramping up their operations, and maintaining a positive outlook for the year ahead.

Review: Banking

Braving The Storm

Kazakhstan's banking regulator is adamant to shore up any loose ends that might jeopardize the sector's broader role in the national economy.

Interview

Bolat Zhamishev, Chairman, Development Bank of Kazakhstan

TBY talks to Bolat Zhamishev, Chairman of the Board of the Development Bank of Kazakhstan, on Nurly Zhol, the role of non-energy investment in the new economic policies, and collaborating with international financial institutions.

Interview

Anthony Espina, Chairman of the Management Board, ATFBank

TBY talks to Anthony Espina, Chairman of the Management Board of ATFBank, on international networking, coping with currency fluctuations, and deploying programs that capitalize on existing assets.

Interview

Michael James Eggleton, CEO, Eurasian Bank

TBY talks to Michael James Eggleton, CEO of Eurasian Bank, on technology and banking, developing the small business sector, and staying competitive in a changing market.

Focus: Islamic Finance

Point of Principle

Approximately 70% of Kazakhstan's population is Muslim, and the country is looking to make Almaty an Islamic finance hub of the CIS and Central Asia region.

B2B: International Banks

Everyone’s Backyard

With its abundant resources and prime placement in Central Asia, Kazakhstan is popular with foreign banks looking to get in on the action.

Forum: Local Banks

Good Times/Bad Times

Most banks in the country were able to mitigate the devaluation, and economic slowdown through a combination of rigorous financial planning and smart investment.

Review: Capital Markets

The Currency of Trading

Despite the “People's IPO" program, a culture of IPOs will need to be inculcated for the KASE to contribute notably to the private sector.

Interview

Erlan Ospanov, CEO, Verny Capital

TBY talks to Erlan Ospanov, Managing Partner and CEO of Verny Capital, on investing in private firms, the Talan Towers project, and targets for 2015.

Focus: PEOPLE’S IPO

MARKETS' PLACE

Entry into the Eurasian Economic Union heralds the establishment of a new market that will allow Kazakhstani goods and services to compete in a much larger economic area.

Review: Insurance

Wait & See

Insurers remain upbeat despite a lack of private individual pickup, with large-scale projects likely to lead growth over 2015.

Forum: Insurance Companies

Under Construction

Kazakhstan is ripe for insurance penetration, with the sector set to grow in line with the economy.

Review: Mining

Looking For A Glow

The country's mining sector is in its infancy as a commercial enterprise; however, a new exploration program is likely to locate new highly-desired resources, while its current flagship, uranium, battles a temporary slump in prices.

Interview

Azamat Bektybayev, Vice-President Of Operations, Eurasian Resources Group (ERG)

TBY talks to Azamat Bektybayev, Vice-President of Operations of Eurasian Resources Group (ERG) on new exploration projects, accommodating market shifts, and cost saving measures necessitated by lower commodity prices.

Interview

Gary Hodgkinson, Director, Central Asia District Rio Tinto

TBY talks to Gary Hodgkinson, Director of the Central Asia District Rio Tinto, on joint ventures, exploration activities, and government investment.

Interview

Tengiz Bolturuk, CEO & President, Syrymbet Mining Company

TBY talks to Tengiz Bolturuk, CEO and President of Syrymbet Mining Company, on the intricacies of the tin market, the benefits of international partnerships, and bureaucratic impediments to development.

Focus: Coal

Hello Darkness

In spite of efforts to move towards green energy, coal mining remains central to the Kazakhstani economy, and output will increase at least for the short term.

Interview

George Apostolopoulos, General Manager, Atlas Copco

TBY talks to George Apostolopoulos, General Manager of Atlas Copco, on regional operations, socially responsible mining, and future opportunities.

Interview

Tony Thornton, General Director, SRK Consulting (Kazakhstan)

TBY talks to Tony Thornton, General Director of SRK Consulting (Kazakhstan), on the national mining sector, new potential commodities, and exploration opportunities.

Review

Ready to Rock

The oil and gas sector has long been the workhorse of Kazakhstan, with some of the largest reserves in the world; however, a number of delays to major projects have postponed the country's step to the next level.

Interview

Vladimir Shkolnik, Minister , Energy of the Republic of Kazakhstan

Despite the fact that the Republic of Kazakhstan is abundant in traditional energy sources, such as oil, coal, gas, and others, we fully understand that these energy sources are non-renewable.

Interview

Christopher Hopkinson, First Deputy Chairman, KazMunayGas (KMG)

TBY talks to Christopher Hopkinson, First Deputy Chairman of KazMunayGas (KMG), on the effect of falling oil prices, the Kashagan field, and exploration challenges.

B2B: Alternative Energy

Because Why Not?

Kazakhstan needn't worry about showing up to the party without enough natural resource potential, and Expo 2017 will be a good opportunity to show off its new technologies.

Focus: Green Energy

Powering The Future

While Kazakhstan has ready access to fossil fuels that it uses for power generation, a series of reforms are ensuring that energy generation capitalizes on the country's more sustainable sources such as wind and solar energy.

Interview

Anastacia Nismelainina, Country Manager, HERMES Datacomms

TBY talks to Anastacia Nismelainina, Country Manager of HERMES Datacomms, on the challenges of serving such a large country.

Forum: ENERGY SOLUTIONS

Energetic Developments

Kazakhstan is making serious investments in new energy technologies, and a number of key global players are providing their ideas, people, and support to realize these plans.

Vox Populi: Ancillary Support

Power Punch

Energy production and power generation are vital to the Kazakhstani national economy, and specialized support services are the veritable engine on which the sector runs.

Review: Industry

Crucial Elements

A Central Asian success story, the country's industry sector is experiencing steady growth as the export market for minerals and natural resources—particularly to China—continues to increase.

Column

Talgat Akhmetov, General Director, G4S Kazakhstan (Group 4 Securicor Kazakhstan LLP)

TBY talks to, Talgat Akhmetov, General Director, G4S Kazakhstan (Group 4 Securicor Kazakhstan LLP) on the security sector.

Interview

Serkan Eriş, Managing Director, Efes Kazakhstan

TBY talks to Serkan Erifl, Managing Director of Efes Kazakhstan, on trends in the market, innovations at the company, and new products.

Interview

Tomas Mateos Werner, CEO, Kazakhstan Kagazy

TBY talks to Tomas Mateos Werner, CEO of Kazakhstan Kagazy, on the evolution of the firm and creating environmentally friendly boxes.

B2B

Serving The Consumer

Kazakhstan is vibrant market for tobacco sales, and TBY spoke with two senior executives on the specifics of the industry.

Interview

Farrukh Makhmudov, Chairman of the Board Group of Companies, Autodom

TBY talks to Farrukh Makhmudov, Chairman of the Board Group of Companies “Autodom," on the nuances of the local car market, packaging offerings, and competing with a slew of new companies entering the market.

Focus: AUTOMOTIVE INDUSTRY

Hitting the Highway

Kazakhstan is one of the largest countries in the world. Owning a means of transportation is a must for many in a country characterized by wide-open spaces and a relatively small population.

Column

Xavier Verfaille, Managing Director, BASF Central Asia

TBY talks to Xavier Verfaille, Managing Director, BASF Central Asia on chemical sector.

B2B: Carmakers

Suits You

Automakers are increasingly looking to set up shop in Kazakhstan as a base for production thanks to a growing middle class and excellent opportunities for export.

Review: Telecoms & IT

I’m On The Phone!

New IT solutions are working to help overcome Kazakhstan's vast geography, while economic growth continues to underline a robust telecoms sector.

Interview

Andrey Khan, General Director, KazTransCom

TBY talks to Andrey Khan, Director General of KazTransCom, on developing the IT network, improving service, and sector trends.

Forum: IT Companies

Log Me On

Despite the devaluation causing headaches across the sector, demand remains high for new ICT technologies, both from individuals and businesses.

Focus: Smart City

The Holistic Approach

Without the burden of obsolete infrastructure to replace, the smart city comprehensively manages the delivery of key utilities, while fostering resident safety and comfort.

Review: Transport

Kazakh it to Me

As vast as it is sparsely populated, with industry concentrated in cities, Kazakhstan's potential as a regional transportation hub faces significant challenges. Private investment and government foresight are teaming up to fill the infrastructure gap.

Interview

Edil Iskakov, President, KedenTransService

TBY talks to Edil Iskakov, President of KedenTransService, on developing rail networks between Central Asia and China, and the long-term growth strategies moving forward.

Interview

Kamill Gafurov, CEO, IFC COLOS

TBY talks to Kamill Gafurov, CEO of IFC COLOS, on the rapid growth of the business, the client portfolio, and railway projects across the country.

B2B: Couriers

Carry All

Despite its large size, Kazakhstan is perfectly situated as a regional center for logistics, providing a dynamic environment for local and international couriers services.

Focus: The Silk Road

Only Connect

The network of trade routes connecting markets from Europe through Asia known as the Silk Road, has linked Central Asia's countries and markets for centuries, uniting peoples, cultures, and traders from China to Western Europe.

Vox Populi: Logistics

Nick of Time

In such an expansive country, logistics services become crucial for any business activity. Industry leaders meet the country's unique transportation challenges through strategic regional partnerships and innovative solutions.

Interview

Andrey Padalko, Director, KAZAIRJET

TBY talks to Andrey Padalko, Director of KAZAIRJET, on what it takes to maintain the best jets in the country, and meet the demands of exacting clients.

Forum: Aviation Industry

Onwards and Upwards

Kazakhstan's air transport sector is developing rapidly and expanding throughout the country's vast territory. A growing number of air services have arisen to meet the rising need. TBY talks to some of the most influential players in the market to understand these rapid developments.

Interview

Tristan Serretta, General Director, Eurocopter Kazakhstan Engineering

TBY talks to Tristan Serretta, General Director of Eurocopter Kazakhstan Engineering, on the status of the industry, production capacity, and exporting aircraft.

Focus: Kazakhstan-Turkmenistan-Iran Railway

For a Grainy Day

Over 900km of railways linking Kazakhstan to Turkmentistan and Iran are part of an aggresive strategy to increase trade by lowering transportation costs in the region.

Forum: Trucking

Rollin’ Rollin’

Trucks are big business in Kazakhstan, with many clients in it for the long haul. The providers themselves are also concerned with maintaining safety standards and developing a qualified workforce.

Review: Construction

Concrete Growth

While ongoing external developments associated with decreasing oil prices, the domestic currency devaluation, and a falling Russian ruble could impact the construction industry in the short term, overall the sector looks healthy and set to grow steadily in the coming years.

Interview

Aidar Tatygulov, President, KAZGOR Design Academy

TBY talks to Aidar Tatygulov, President of KAZGOR Design Academy, on construction and design, and bringing knowledge to the sector.

Focus: Astana’s Rise

Stacking Bricks

Building Kazakhstan's capital from the ground up has galvanized the construction sector and created possibilities for architectural innovation.

Vox Populi: Construction

Pile it On

More complex consumption patterns go hand-in-hand with integration into the global economy. In Kazakhstan, this is especially apparent in construction and manufacturing where firms are growing increasingly sophisticated.

Column

Doncho Penchev, Managing Partner, Office Solutions

TBY talks to Doncho Penchev, Managing Partner, Office Solutions, on the real estate sector.

Column

Olga Voronova, Director, V-TIME Object Office

TBY talks to Olga Voronova, Director, V-TIME Object Office on office space.

Interview

Bayan Kuatova, Managing Director, Partner of Colliers International Kazakhstan

TBY talks to Bayan Kuatova, Managing Director and Partner of Colliers International Kazakhstan, on navigating currency fluctuations, market characteristics, and demand for professional expertise.

B2B

We Built This City

TBY talks to Rolandas Kliucinskas, Architect in Chief and Partner, and Algirdas Urbonas, Architect of Almaty Vilnius Architects, on moving beyond utilitarianism, improving dialogue with clients, and architecture that creates experiences.

Forum: The Real Estate market

Two Towers

Having moved its capital from Almaty to Astana, real estate sector executives in Kazakhstan discuss the benefits and pitfalls of each.

Review: Agriculture & Food

Space Industry

Kazakhstan has vast potential to develop its already large agriculture industry. There is no shortage of fertile land, and new technologies together with a strategy for diversification are changing the face of farming on many different levels.

Column

Renaud Chamonal, General Manager, Danone Berkut

TBY talks to Renaud Chamonal, General Manager, Danone Berkut on dairy products.

Interview

Asylzhan Mamytbekov, Minister , Agriculture of the Republic of Kazakhstan

TBY talks to Asylzhan Mamytbekov, Minister of Agriculture of the Republic of Kazakhstan, on ensuring optimal utilization of agricultural land, enabling farmers to succeed and grow, and the sectors investment climate.

Focus: Wine

Vine Traditions

Winemakers are fighting to reclaim the country's storied wine-making legacy and recover from decades of neglect.

Column

Zeinulla Kakimzhanov, Founder, Arba Wine

TBY talks to, Zeinulla Kakimzhanov, Founder, Arba Wine on wine sector.

Interview

Ruslan Idrissov, Director, Rustar Food

TBY talks to Ruslan Idrissov, Director of Rustar Food, on the snack foods market, promoting key brands, and regional expansion.

B2B: FOREIGN FOOD COMPANIES

It’s All Here

Major international food companies are cheerful about their prospects in Kazakhstan, where consumers are only starting to latch onto their products.

Review: Tourism

Steppe On In

The Kazakhstani tourism sector holds much promise, and with the prospect of the Astana 2017 Expo on the horizon, will soon receive the attention it deserves.

Interview

Ilya Urazakov, Director, Winter Universiade

TBY talks to Ilya Urazakov, Director of the Winter Universiade, on organizing an international sporting event and the legacy it will leave.

Interview

Engin Asralan, General Manager, Khan Shatyr

TBY talks to, Engin Asralan, General Manager of Khan Shatyr, on the rapid development of the country's high end retail sector, introducing new concepts to the market, and staying ahead of the competition.

Focus: NEW RETAILERS

Shop Till You Drop

As more young professionals and students take up residence in major cities, high-end retailers are re-evaluating the market's potential, and the first movers are already reaping the benefits of this savvy and affluent demographic.

Forum: Hotel Management

Stay In Comfort

The hospitality sector in Kazakhstan is developing and expanding, and major hotel brands are positioning themselves to take advantage of increased business and leisure travel.

Interview

Almas Abdygapparov, Founder, Parmigiano Group

TBY talks to Almas Abdygapparov, Founder of the Parmigiano Group, on the restaurant industry, promoting a culture of food, and innovating the fine dining experience.

Review: Legal

Open For Business

Viktoriya Tyan, Deloitte Kazakhstan's Senior Legal Consultant, provides a brief overview of the facts you need to know when approaching the Kazakhstan market

Inside Perspective

Mark Smith, Managing Director, Deloitte in Kazakhstan

Mark Smith, Managing Partner of Deloitte in Kazakhstan, explains how economic diversification and strong regulations are the key to surviving the global financial crisis.

Focus: Attracting Skilled Workers

People Power

Despite being the hardest to quantify, human capital has emerged as the most important asset in modern economies, and in Kazakhstan, where land and natural resources are abundant, skilled workers are the linchpin of economic success.

B2B: RECRUITER

Anywhere The Wind Blows

The EEU agreement and an influx of multinationals are upending local labor markets and forcing human resource specialists to take into account increased mobility and changing legal structures.