Kazakhstan's Dynamic Economy: A Business and Investment Review

The Republic of Kazakhstan continued to assert itself as a dynamic transitional economy and attractive emerging market during 2005. With economic growth of 9.4% in 2004, the country's economic expansion continued as a result of increased oil and gas production spurred by rising global demands for energy. While Kazakhstan is attractive to international energy companies, the energy sector is not the only source of investor interest, with over $1.5 billion of investment projects currently underway. President Nazarbayev's re-election in December 2005, while not indicative of a fully-fledged democracy, continues to create a strong semblance of political stability in Kazakhstan, which is vital for attracting investment and facilitating growth.