Kazakhstan opens door for foreign companies, leaving Russia

Kazakhstan intends to transfer to its market 250 Western companies that have left Russia, Prime Minister of Kazakhstan Alikhan Smailov.

The Kazakh prime minister said that 45 foreign companies have already decided to move to the Kazakhmarket.

“We are now carrying out such relocation work. In particular, more than 250 companies that have left the Russian market are mainly Western companies in non-commodity sectors. We compiled a target list, presented information that Kazakhstan is interested in their coming to work in our market,” Tengrinews.kz quoted Smailov as saying. He is confident that this will increase investment projects in Kazakhstan.

Smailov said that Kazakhstan has set up working groups for each company to help them relocate. Among the companies intending to move to Kazakhstan are Skoda, GE Healthcare, Philips.

Honeywell has already opened its production in Alma-Ata. In July, President of Kazakhstan Kassym-Jomart Tokayev instructed the government to prepare favorable conditions for the relocation of foreign business to Kazakhstan.

After the start of the military operation in Ukraine and the withdrawal of a number of Western companies from the Russian market, Kazakhstan became a supplier of goods for Russia under the parallel import scheme. This opens prospects for the creation of new jobs for Kazakhstan. Equipment, such as Samsung smartphones, is already being imported to Russia through Kazakhstan.

August 26, 2022