Country Risk Profile – Kazakhstan

Key Facts

A land-locked country in Central Asia, Kazakhstan serves as a key economic transit hub in the region, connecting the major markets of China and Europe. Despite occasional ethnic conflicts and disputes in its territory, Kazakhstan does not have any major on-going conflicts with its neighbours. Its security environment nevertheless continues to suffer from issues of organised crime, porous borders, and spill-over geopolitical tensions, especially since the start of Russia’s war in Ukraine. The country enjoys a relatively stable political system, dominated by the figure of the president. Domestic, economic, and social reforms have been underway since popular unrest in 2022 turned violent, calling into question the legitimacy of established institutional practices. Kazakhstan is currently considered a consolidated authoritarian regime. Despite persistent challenges, notably in currency regulation, Kazakhstan’s economy has enjoyed moderate growth in the past few years, consistently surpassing growth forecasts. Due to incomplete regulatory frameworks and uncertain development model, the country remains a sensitive risk environment for business. The country also suffers from a persistent threat of natural disasters, notably flooding; inadequate infrastructure and inefficient usage contributes to worsening water security.

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