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The rating considers a number of macroeconomic and financial components, such as market measurement, GDP, tax rates, infrastructure growth, etc. In 2012, the World Economic Forum listed corruption as the largest problem in doing enterprise in the nation, whereas the World Bank listed Kazakhstan as a corruption hotspot, on a par with Angola, Bolivia, Kenya, Libya and Pakistan. Kazakhstan scored 31 points kazakh woman out of a hundred in Transparency International’s 2018 edition of the Corruption Perceptions Index, indicating high levels of corruption. « Kazakhstan’s Little Brother takes Federal Foreign Office award at goEast ». Islam in Kazakhstan Archived 18 September 2009 at the Wayback Machine.

In 2012, Kazakhstan conducted the primary evaluate of the OECD investment standards, which resulted in 12 suggestions on how to improve the funding climate of the nation. In order to achieve the 26% progress of FDI, Kazakhstan executes economic diplomacy. Key actors of Kazakhstan’s international economic coverage are the Ministry of Foreign Affairs, Ministry of Trade and Integration of Kazakhstan, KazakhInvest and Qaztrade.

Foreign direct funding increased 30 percent in 2015 in Kazakhstan’s agricultural trade and 80 % within the nation’s petroleum products sector. According to the Agency of Statistics of the Republic of Kazakhstan the Kazakhstan’s GDP development in the first quarter of 2014 was three.eight%. In 2017, the World Economic Forum compiled its Global Competitiveness Ranking rating Kazakhstan 57th out of 144 international locations.

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The Kazakh authorities permitted in August 2017 a national funding technique, which seeks to increase foreign investments by 26% in 5 years and create a extra favorable funding local weather. The technique additionally identified 27 international locations as crucial sources investments. These nations include the US, UK, China, Russia, Germany, France, Italy, Turkey, Japan, the UAE, South Korea and others.

GE Transportation acquired 50% stake in Lokomotiv Kurastyru Zauyty in a joint venture with Kazakhstan’s nationwide railway company Temir Zholy. Kazakhstan has the potential to be a world-class oil exporter in the medium time period. The landmark international funding in Kazakhstan is the TengizChevroil three way partnership, owned 50% by ChevronTexaco, 25% by ExxonMobil, 20% by KazMunaiGas of Kazakhstan, and 5% by LukArco of Russia. The Karachaganak natural fuel and gasoline condensate area is being developed by BG, Agip, ChevronTexaco, and Lukoil. The Agip-led Offshore Kazakhstan Consortium has discovered potentially big Kashagan oil subject within the northern Caspian.

« Kazakh foreign minister insists balanced international policy remains intact ». « Constitution of the Republic of Kazakhstan » Archived 14 July 2014 at the Wayback Machine.

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The development of SME’s is an integral part of Kazakhstan’s Business Road Map 2020 state programme. The share of SMEs in Kazakhstan’s GDP elevated from 24.9% in 2015 to 28.4% in 2018. Kazakhstan plans to raise this indicator to 50% by 2050.

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Kazakhstan’s economic future is linked to oil and fuel growth. GDP development will depend upon the worth of oil, in addition to the flexibility to develop new deposits. In 2016 Kazakhstan’s economy started to recuperate from the disaster brought on by low oil costs and the tenge devaluation. According to the Minister of National Economy of Kazakhstan, in nine months of 2016 the GDP progress reached zero.4%. Sectors of economic system that skilled the best development included development (6.9%), agriculture (four.9%), and transport sector (four.0%).

In 2016 the number of Kazakhstan’s telecom begin-ups increased by 10% in comparison with 2015. Around 9,400 small telecom firms are presently registered in the nation. According to Ministry of Investment and Development of Kazakhstan, as of May 2016, attraction of international funding in oil refining elevated by 80%, food trade – 30%, in engineering – by 7 times. The Ministry additionally reported that there have been 200 investment initiatives in nation worth greater than $forty billion.

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Religious Situation Review in Kazakhstan Archived 11 May 2010 at the Wayback Machine Congress of World Religions. « In Surprise State of the Nation Address, Kazakh President Unveils Massive Infrastructure Investments ». Carnegie Endowment for International Peace Moscow Center. « Readout of the President’s Call to President Nazarbayev of Kazakhstan » | The White House Archived 20 November 2015 at the Wayback Machine. Joint Statement on the meeting between president Obama and Kazakhstan president Nazarbayev | The White House Archived 20 November 2015 at the Wayback Machine.

The Ministry for Investment and Development works with Ministry of Foreign Affairs to develop individual plans of actions for each country. On 22 December 2014 the World Bank approved an $88 million mortgage that would help Kazakhstan’s efforts to facilitate commercially and socially viable innovation in know-how. The Fostering Productive Innovation Project goals to improve the country in areas that are in a position to foster and support technological innovation.

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In the final three Olympic Games, their efficiency was assessed as one of the best they usually had more medals than any country on the earth, except Cuba and Russia (in all three video games). In boxing, Kazakhstan carried out well in the 2000 Summer Olympics in Sydney. Two boxers, Bekzat Sattarkhanov and Yermakhan Ibraimov, earned gold medals. Another two boxers, Bulat Zhumadilov and Mukhtarkhan Dildabekov, earned silver medals.

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