|
|
Home
::
Discover India
:: Kazakhstan Central
Asia
Kazakhstan Central Asia Tours
Kazakhstan
aims to be Central Asia's Dubai
KAZAKHSTAN IS positioning it self as the financial,
high technology and energy hub of its region, says Ambassador
Kairat Umarov." There are obvious complementaries
between the Indian economy and what Kazakhstan plans."A
variety of Indian firms, ranging from Punjab Bank to
Larsen & Toubro to 3i Infotech, have already set
up shop in the largest Central Asian country.
President Nursultan Nazarbayev used his recent annual
address to set a goal of making his country one the
world's "50 most competitive economies." Umarov
said his country was already on the World Bank's list
of 20 most investor friendly nations and is modeling
itself after Singapore and Dubai.
Despite path breaking economic reforms, including banking
norms that match western standards and full currency
convertibility, Kazakhstan is still lumped together
with its troubled neighbours. "Our GDP is larger
than all the other central Asian and Caucasus countries
put together." Says Umarov.
Another stereotype: the Kazakh economy is only oil and
gas. Energy represents 60 per cent of GDP, admits the
ambassador, but Nazarbayev's goal is an "English
speaking society and a hi-tech industry."Kazakhsthan
is promoting several clusters in software, Biotechnology,
Pharmaceuticals and space - it is home to the famous
Soviet space center Baikonur, but is also building its
own satellites launch site. Kazakhstan is using $8 billion
development fund to promote these industries.
Alma Aty's ambitions to be a financial hub, its e-governance
plan and its software parks are an opportunity for Indian
IT. " We are inviting India firms to come,"
says Umarov.
A pharmaceutical cluster delegation is expected to visit,
looking for Indian firms prepared to set up joint ventures
in Kazakhstan. "The embassy can help match Indian
firms with Kazakh counterparts."
His country is also seeking value-adding investments
in areas like textiles, construction materials and petrochemicals.
Umarov says the belief China dominates the Kazakh economy
is misplaced. "The European Union is a bigger trading
partner even though it has no geographical border."
One of the most successful and biggest foreign investor
in Kazakhstan is the Indian steel baron, Lakshmi Mittal.
" The issue is that India needs to rediscover Central
Asia and especially Kazakhstan,"says Umarov.
|