On May 10, President Kassym-Jomart Tokayev of Kazakhstan signed economic changes with the aim of increasing investment opportunities, competition, and entrepreneurship, especially for Indian investors eyeing the region. A National Privatisation Office, improved corporate governance for the Samruk Kazyna Sovereign Wealth Fund, and increased competition in product marketplaces are some of the measures.
To facilitate digitization and optimise company processes, regulatory policies will be streamlined. Decriminalisation of some offences is one of the measures put in place to safeguard the rights of businesses. It is anticipated that these reforms will lessen the influence of government in the economy, improving conditions for private industry.
A liberalised economic climate and fair competition are what Indian investors are looking for in Central Asia, where Kazakhstan has the largest and most advanced economy in the area. India’s principal trading and investment partner in Central Asia is Kazakhstan, supported by programmes such as the Joint Business Council (JBC), founded by FICCI, and the Kazakhstan Chamber of International Commerce.
Kazakhstan is an attractive location for Indian companies wishing to increase their footprint because there are plenty of investment opportunities in industries including infrastructure, energy, IT, healthcare, and hospitality.
