Huge Opportunities Beckon U.S. Investors in Top Central Asian Market
His Excellency Bolat Zhamishev, Finance Minister of the Republic of Kazakhstan, will use his U.S. visit to expand economic ties and cooperation between Kazakhstan and the United States, a major trading partner.
Promoting increased trade and investment in Kazakhstan will be the focus of his September 22, 2009 address at the Princeton Club of New York in New York City to representatives of the financial and investor community.
“For U.S. investors and companies looking for new business and growth opportunities, Kazakhstan is theleading market in the rapidly expanding Central Asian region and economy today,” said Finance Minister Zhamishev.
The economic leader emphasized Kazakhstan’s robust economic growth, strong consumer demand and rising incomes, favorable business climate, skilled labor, and abundant natural resources that make it an attractive market and investment target with tremendous prospects.
According to the U.S. State Department’s most recent investment climate assessment for Kazakhstan, the country “…has made significant progress toward creating a market economy since its independence.” In 2000, the U.S. Department of Commerce and the European Union—recognizing the success of Kazakhstan’s economic liberalization, privatization, and other reforms—granted the country market economy status.
The latest State Department figures demonstrate that Kazakhstan is attracting foreign investment. To date, foreign investors have invested about $76.1 billion in the country.
The United States is the leading investor or one of the top investors in Kazakhstan. According to the Office of the United States Trade Representative, U.S. foreign direct investment was $4.9 billion in 2007 (latest data available), a 7.1 percent increase over 2006. Today more than 100 U.S. firms are active in the country through subsidiaries, joint ventures, representative offices, or as contractors, according to the U.S. Department of Commerce.
“I strongly encourage U.S. companies to take a good look at Kazakhstan and discover why other companies have chosen to invest. Unlimited opportunities and financial rewards await those who are willing to do business in Kazakhstan. And we’re open for business and ready to help,” concluded Minister Zhamishev.
Contacts:
For Republic of Kazakhstan/Finance Minister
of the Republic of
Kazakhstan:
Joshua B. Heath, 703-303-7839
jheath@policyimpact.com
or
Craig
Steinburg, 703-839-5883
csteinburg@policyimpact.com