Population: 19 million (2021) World Bank
Currency: Tenge (KZT)
Time: UTC+5 / +6 (West / East)
- Kazakhstan is the 9th largest country in the world (by land mass) and Central Asia’s largest economy.
- The UK is frequently among the top 10 investors in Kazakhstan.
- Kazakhstan possesses substantial fossil fuel reserves and other minerals and metals, such as uranium, copper, and zinc. It also has a large agricultural sector featuring livestock and grain. The government has made initial attempts to diversify its economy by targeting sectors like transport, healthcare, telecommunications, and food processing for greater development and investment.
- Kazakhstan signed the Paris Agreement on climate change in August 2016 and pledged to reach carbon neutrality by 2060 as part of the nation’s strengthened climate plan.
- Kazakhstan has a particular interest in development of the following renewable energy projects: wind power plants; hydropower plants; solar power plants; biopower plants.
- The country has a significant geothermal energy potential of 4.3 GW. Also, grey, blue and green hydrogen projects are being considered for implementation. Waste to value, electrical networks & energy storage and civil nuclear projects are of high interest for the government of the Republic of Kazakhstan.
- An auction mechanism for selection of renewable energy projects was introduced in 2018 and for waste-to-energy (WtE) in 2021, which is aimed at selection of the most effective projects at the lowest prices.
- Mining is one of the sectors of strategic importance of Kazakhstan, corresponding to around 1/4 of the country’s GDP.
- Kazakhstan has adopted the new Mining Code in 2018, ensuring transparent and comprehensible methods of state regulation of the industry, access to geological information, and harmonization of national standards with world standards.
- The country has almost every element in the periodic table in commercial quantities.
- This is leading to an increasing demand for geological exploration solutions, experts and equipment.
- In 2021 the new Environmental Code (based on the OECD standards) came into force aimed at tackling emissions and environmental issues in the industry. This is creating demand for sustainable mining solutions, technologies and services that reduce solid and gaseous emissions throughout the production process, waste and water treatment, legacy planning, closure bonds and mine closure. It also offers opportunities through the shift from diesel to electricity.
Financial and Professional Services
- Kazakhstan launched its Astana International Financial Centre (AIFC) in 2018 based on English Common Law and in accordance with standard practices of other international financial centres.
- More opportunities are foreseen in fintech, green finance, Islamic finance sectors, and sweeping privatization of state owned businesses by the end of 2023.
- The Govt of Kazakhstan wants to spend 7% of its GDP on education by 2025, a substantial increase.
- The Kazakhstani government's programme for education sector development (2020-2025) aims to develop the higher education system through trans-national education partnerships, establishing Kazakhstan as an educational hub in Central Asia.
- Another main strand of this programme is developing digital capacity across the education system, boosting use of EdTech both at schools and at universities. Areas of focus for digital development include for teacher training, development of school programmes and infrastructure (including software), and launching coding schools for adults.
- Kazakhstan's State Programme for the Development of Healthcare for 2020-2025 presents opportunities for UK suppliers. The objectives of the programme are to form healthy lifestyle habits, improve quality of medical care, develop public health services, and create a sustainable health system.
- This presents opportunities for UK businesses to participate in hospital construction programmes, partner with medical education institutions and provide consultancy services, academic exchange and training of personnel, localization of pharma manufacturing, creating a new healthcare digital ecosystem and medical equipment supply.
- Kazakhstan has great agricultural potential for crop production, dairy, livestock and aquaculture. Only 30% of agricultural land is being used whilst 70% is suitable for agricultural production.
- Kazakhstan plans to substantially expand agricultural production across the country.
- There are opportunities in agricultural machinery and software, animal health, precision agriculture, farm management technologies and services, full cycle of meat processing and production, and implementation of 'from farm to fork' model (water and irrigation infrastructure development; sheep breeding - export of live cattle and genetics; value Added Production Development).
Technologies and Smart Cities
- Kazakhstan plans to develop its information and communications technology (ICT) sector by 2025 and become one of the top 25 countries in the world in this field, which opens up the potential in the following sectors: GovTech; smart transportation; city infrastructure; process automation technologies; mobile & telecommunications (satellite applications & fibre optic cables); data centres; coding schools.
To learn more about the UK’s trade relationship with Kazakhstan, visit hereopens www.gov.uk in a new tab and contact EECAN.ExportHub@fcdo.gov.ukto discuss the opportunities in the region.