Internationalisation of entrepreneurship in Kazakhstan Online publication date: Fri, 10-Apr-2009
by Martine Spence
International Journal of Globalisation and Small Business (IJGSB), Vol. 3, No. 3, 2009
Abstract: Following a turbulent history, Kazakhstan became independent in 1991. Ranked as the ninth largest country in the world, it possesses significant energy resources which consist of its main exports. The elected President since independence, Mr. Nazarbayev, implemented a range of reforms to modernise the economy and increase Small and Medium Enterprises' (SMEs') participation. After a few years of rapid growth stimulated by an influx of foreign direct investments at the turn of the century, the country is experiencing a slowdown and a surge in inflation. The country's heavy dependence on oil, gas and minerals, the low density of the transportation network and administrative burdens impede upon the creation of a truly modern state within the global economy. This in turn jeopardises SMEs' internationalisation. Development of a solid infrastructure would stimulate SMEs' contribution to the economy, as well as the diversification of industrial sectors.
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