MarketAnalysis: Kazakhstan, an unknown market for Spanish companies
Posted: Mon Dec 23, 2024 4:59 am
Kazakhstan is a transcontinental country, with most of its territory in Central Asia and a smaller part - west of the Ural River - in Europe. With an area of 2,724,900 km², it is the ninth largest country in the world.
Foreign trade
Tags: Internationalization , Companies
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market_analysis_-_kazakhstan.jpg
Kazakhstan is one of six independent Turkic states, along with Turkey, Azerbaijan, Kyrgyzstan, Uzbekistan and Turkmenistan. It shares borders with the latter three and with Russia and China, and has coasts on the Caspian Sea and the Aral Sea. The capital is Astana.
With 18.3 million inhabitants, Kazakhstan ranks 61st in terms of population in the world and has a low population density, being just over 7 inhabitants per square kilometer.
Kazakhstan has experienced intense growth in recent years, largely based mexico email list its vast reserves of energy resources. The economic recovery and the success of the measures taken by the Kazakh government are reflected in the GDP growth rate, which has increased from 1.2% in 2016 to 3.9% estimated for 2018.
Another positive indicator is the significant increase in foreign direct investment, almost 70% in the first few months of the year. This is not unrelated to the improvement in the country's attractiveness as an investment destination, which is reflected in the positions it occupies in international rankings of ease of doing business, the best of its neighbouring countries.
The government has approved a Comprehensive Strategic Development Plan for 2025, the aim of which is to become one of the thirty most developed countries in the world. In addition, it is making a special effort to boost private investment, improve public services, create job stability by guaranteeing an efficient labour market, reduce bureaucratic burdens, improve institutional governance and increase legal security.
2018 marks the 20th anniversary of the founding of its capital, Astana, a city that has become one of the most important centres in Eurasia and a driving force of regional development. In addition, Kazakhstan is fully aligned with the Chinese government's New Silk Road initiative, which adds opportunities for foreign investment.
Bilateral relations
Kazakhstan is still an unknown market for Spanish companies and trade figures are still modest. In 2017, Spanish exports reached 163.2 million euros, concentrated in railway equipment and aircraft, while imports amounted to 1,551.4 million euros, mainly in the oil sector.
Currently, the business opportunities that this country offers to Spanish companies are not only in the energy sector, but also in infrastructure, construction, modernization and digitalization of its industry, services, smart cities, equipment and hospital management.
Foreign trade
Tags: Internationalization , Companies
Image
market_analysis_-_kazakhstan.jpg
Kazakhstan is one of six independent Turkic states, along with Turkey, Azerbaijan, Kyrgyzstan, Uzbekistan and Turkmenistan. It shares borders with the latter three and with Russia and China, and has coasts on the Caspian Sea and the Aral Sea. The capital is Astana.
With 18.3 million inhabitants, Kazakhstan ranks 61st in terms of population in the world and has a low population density, being just over 7 inhabitants per square kilometer.
Kazakhstan has experienced intense growth in recent years, largely based mexico email list its vast reserves of energy resources. The economic recovery and the success of the measures taken by the Kazakh government are reflected in the GDP growth rate, which has increased from 1.2% in 2016 to 3.9% estimated for 2018.
Another positive indicator is the significant increase in foreign direct investment, almost 70% in the first few months of the year. This is not unrelated to the improvement in the country's attractiveness as an investment destination, which is reflected in the positions it occupies in international rankings of ease of doing business, the best of its neighbouring countries.
The government has approved a Comprehensive Strategic Development Plan for 2025, the aim of which is to become one of the thirty most developed countries in the world. In addition, it is making a special effort to boost private investment, improve public services, create job stability by guaranteeing an efficient labour market, reduce bureaucratic burdens, improve institutional governance and increase legal security.
2018 marks the 20th anniversary of the founding of its capital, Astana, a city that has become one of the most important centres in Eurasia and a driving force of regional development. In addition, Kazakhstan is fully aligned with the Chinese government's New Silk Road initiative, which adds opportunities for foreign investment.
Bilateral relations
Kazakhstan is still an unknown market for Spanish companies and trade figures are still modest. In 2017, Spanish exports reached 163.2 million euros, concentrated in railway equipment and aircraft, while imports amounted to 1,551.4 million euros, mainly in the oil sector.
Currently, the business opportunities that this country offers to Spanish companies are not only in the energy sector, but also in infrastructure, construction, modernization and digitalization of its industry, services, smart cities, equipment and hospital management.