Kazakhstan - a safe port for business?

Kazakhstan is becoming the favourite destination for Polish firms interested in doing business in Central Asia. Kazakhstan is chosen as the basis for business development thanks to modern law, preferential conditions and allowances for foreign investors. However, there are many minor legal peculiarities that one should be aware ofwhen deciding to operate on this market.

There is a great deal of interest in doing business in Kazakhstan, though it is important to be aware of numerous restrictions, such as geographical distance, mentality, specific non-tariff procedures to be followed, and competition from other countries. To do business in Kazakhstan, another requirement is patience. We have noted in recent years that, despite the unfavourable geopolitical situation that has impacted on the level of trade, Polish exports are again on the rise. According to Polish data, in January-May 2017 Polish Companies exported goods valued at USD 162.2 million to Kazakhstan, against USD 123.5 million in the same period last year. According to preliminary Polish data, grass Polish FDI in Kazakhstan in 2016 stood at around USD 100 million, indicating the potential for developing economic cooperation", said Tomasz Zapalski, First Secretary, Polish Embassy - Department for the Promotion of Trade and Investment in Almaty. 

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Source: Polish Market, Nr 9 (261)/2017