Kazakhstan

Kazakhstan, officially the Republic of Kazakhstan, is a country in Eurasia ranked as the ninth largest country in the world.

It is also the world’s largest landlocked country. Its territory of 2,727,300 km? is greater than Western Europe.

It is neighboured clockwise from the north by Russia, China, Kyrgyzstan, Uzbekistan, Turkmenistan, and also borders on a significant part of the Caspian Sea. The capital moved in 1997 to Astana from Almaty, Kazakhstan’s largest city. Kazakhstan declared itself an independent country on December 16, 1991, the last Soviet republic to do so. Its communist-era leader, Nursultan Nazarbayev, became the country’s new president. Since independence, Kazakhstan has pursued a balanced foreign policy and worked to develop its economy, especially its hydrocarbon industry.

While the country’s economic outlook is improving, President Nazarbayev maintains strict control over the country’s politics. Nevertheless, Kazakhstan’s international prestige is building. It is now considered to be the dominant state in Central Asia. The country is a member of many international organizations, including the United Nations, NATO’s Partnership for Peace, the Commonwealth of Independent States, and the Shanghai Cooperation Organisation. In 2010, Kazakhstan is chairing the Organization for Security and Co-operation in Europe.

Energy is the leading economic sector. Production of crude oil and natural gas condensate in Kazakhstan amounted to 51.2 million tons in 2003, which was 8.6% more than in 2002. Kazakhstan raised oil and gas condensate exports to 44.3 million tons in 2003, 13% higher than in 2002. Gas production in Kazakhstan in 2003 amounted to 13.9 billion cubic meters (491 billion cu. ft), up 22.7% compared to 2002, including natural gas production of 7.3 billion cubic meters (258 billion cu. ft); Kazakhstan holds about 4 billion tons of proven recoverable oil reserves and 2,000 cubic kilometres (480 cu mi) of gas.

Industry analysts believe that planned expansion of oil production, coupled with the development of new fields, will enable the country to produce as much as 3 million barrels (477,000 m?) per day by 2015, lifting Kazakhstan into the ranks of the world’s top 10 oil-producing nations. Taking in consideration all that and different other factors there is a plenty of investment opportunities in Kazakhstan as also establishing a permanent resident company in this jurisdiction.