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Barriers for Franchise Business in Kazakhstan

In: Business and Management

Submitted By shinchik
Words 3301
Pages 14
Introduction to International Business

Course project:
Barriers for franchise business in Kazakhstan

Prepared by Shynar Galiyeva


Kazakhstan is the ninth largest country in the world, sharing its borders with Russia, China, Uzbekistan, Kyrgyzstan and Turkmenistan. Astana is the capital and Almaty is the largest city and considered to be a financial center of the country. The population of Kazakhstan is about, 16 million, which is low considering the large size of the territory.
Nowadays Kazakhstan is known as a country committed to the principles of democracy and market-based economy. After the collapse of Soviet Union and over 20 years of transition period, Kazakhstan has developed into one of the leading economies within the Commonwealth of Independent Countries (CIS). This was achieved mostly because Kazakhstan is very rich for natural resources. Up to the present time, around, 160 oil and gas deposits have been discovered on the territory of the country. Business in Kazakhstan is often focused on the oil and gas sector, which has been responsible for the country’s strong economic expansion over the last decades. However, these are not the only strong sectors of Kazakhstani economy, it possesses almost a quarter of the world’s uranium reserves, holds leading ranks in reserves of barite, chromite, phosphate, copper, lead, zinc, iron ore and gold.
Although, Kazakhstan’s economic growth is profoundly dependent on the oil and mining sectors, Kazakhstan is constantly undertaking efforts to build a diversified competitive economy. Like other former Soviet Republics, Kazakhstan is still developing transparent and effective business culture that is attractive to foreign investors. The government has been expediting economic reforms in order to move closer to Western/European standards. Nonetheless, new laws and regulations that should…...

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