|
|
Since the beginning of 2009 official Astana gradually alleviates the tax burden of the mining sector enterprises, looking to minimize the negative socio-political consequences of the world economic crisis.
|
|
|
In the background of the world economic recession, official Astana is planning to change the game rules in the Kazakhstani "petroleum field". At the same time, the challenging economic situation forces the government to make some tradeoffs in its relationships with investors.
|
|
|
The nationalization of BTA Bank and Alliance Bank, 25% devaluation of tenge and another downgrade of international ratings of Kazakhstan second-level banks are the major events in the financial market that will make the first quarter of 2009 remembered.
|
|
|
Kazakhstan’s industrial sector remains under increasing pressure from anemic domestic consumer and investment demand as well as the weakening global economy. In February, retail sales fell for the second month in a row, shrinking by 4.5% yoy, while fixed capital investments declined by 5.6% yoy
|
|
|
Yesterday, Kazakhstan was among the rapidly developing republics of former USSR. However, the world recession has given an estimate for the genuine price of the nation’s “success”, where the major vector of economic development was the export of mineral resources.
|
|
|
The economic boom that swept across Kazakhstan until recently was matched by the vigorous growth in the electrical and heat energy consumption. However, today our energy sector, which was largely established in the Soviet times, has reached its potential. The Ministry of Energy confirmed that despite the ongoing financial crisis and the resultant internal problems Kazakhstan's plans for the energy sector development had not changed.
|
|
|
Kazakhstan, which is one of the first CIS countries that began to reform the railway industry, has already made many mistakes in this area. The problem is that the national company Kazakhstan Temir Zholy (KTZ) is directly involved in the reforms of the railways in Kazakhstan. Clearly, it is unlikely that any company, be it even a state-run one, will actively help to create favourable conditions for competition if this clashes with its financial interests.
|
|
|
Despite the on-going global economic crisis, Russian businesses have stepped up their activities in creating new positions and expanding existing ones in Kazakhstan’s mining sector. In addition, current and future purchases of assets are integrated into transnational industrial companies. It is quite clear on the map of joint investment projects that Kazakh mineral resources attract Russian mining giants.
|
|
|
Small and medium-sized businesses (are the basis of stability in civil society, and the Kazakh population's well being depends on their development. SMB do not only play a big social role, supporting the economic activity of the majority, but also provide significant tax revenues. In today’s difficult situation, small and medium-sized businesses can act as a stabiliser – this is why they have the right to rely on appropriate social and government support.
|
|
|
The 20th session of the Foreign Investors’ Council (FIC), which is chaired by the Kazakh president, was held in Almaty on 5 December 2008. Increasing Kazakhstan’s share in the investment in and operational costs of the international mining companies operating in our country was the key issue on the agenda of the FIC’s anniversary meeting.
|
|
|
Despite the crisis in the world economy, Kazakhstan was steadily increasing its hydrocarbon production from January to October 2008. As compared to the same period in 2007, the production of oil and natural gas in the country has grown by 6% and 11.4% respectively, while the production of gas condensate has dropped by 1.4%.
|
|
|
Perhaps last year's most significant event in the banking sector was the government’s offer to the four major players, Bank TuranAlem (BTA Bank), Kazkommertsbank, Halyk Bank and Alliance Bank, to buy 25% of their voting shares, through the Samruk-Kazyna National Welfare Fund.
|
1.gif)
