Kazakhstan 2018

A top-down shift toward a free market is a key part of Kazakhstan's growth narrative as it aims to transform into a diversified and digitalized economy. And with several notable achievements in 2017, including hosting Syria peace talks and Expo 2017, Kazakhstan entered 2018 with a newfound optimism and global stature.

Sneak peek at what's inside:


TBY Analytics reviews all interviews conducted for The Business Year: Kazakhstan 2018 and examines trends and sentiment among the country's business leaders.
60% of our interviewees in the real estate and construction sector mentioned where they plan to expand their operations in the coming year.

100% Almaty
67% Aktobe
33% Astana
33% Kamenogorsk
33% Karaganda
33% Pavlodar
33% Shymkent


Digital transformation is touching every sector, including smart city construction projects and financial integration, and Kazakhstan's leaders are embracing the revolution. This is just a selection of the international investors we interviewed for their take on what makes Kazakhstan a great place to do business:

Béla Ferenczi, CEO, GE Central Asia & Azerbaijan
Attila Onat, General Manager, Bureau Veritas Kazakhstan
Andrey Kurilin, CEO, Citibank Kazakhstan
Dmitry Shuster, General Director, Cisco Kazakhstan


As the government moves to encourage more Islamic financing and the appetite for sharia-compliant finance products grows organically outside of Almaty and Astana, opportunities will be rife in the coming years.

“The issue of independent bonds will be a great benchmark for the entire local market, as it will raise awareness from both local investors and foreign institutions looking at Kazakhstan as a potential sukuk hub in the future."

- Daniyar Uspanov, Chairman of the Board, Al Saqr Finance