Kazakhstan is the largest country of the Central Asian republics in terms of geography, and also the most developed in terms of its economy and business environment. In 2020, Kazakhstan ranked 25th in the World Bank´s Ease of Doing Business report. From the region, Uzbekistan is Kazakhstan´s closest competitor in terms of the development level of the business environment. Apart from Kazakhstan, the Central Asian region includes Kyrgyzstan, Tajikistan, Uzbekistan and Turkmenistan.

Kazakhstan´s main challenge in terms of its economy during recent times has been to diversify and support growth in sectors other than minerals and hydrocarbons. Traditionally commodities have been the main supporting block of the economy. In order to secure long-term economic growth, investments into a broader spectrum of economic activity and supporting structural reforms are needed.

Kazakhstan is integrated into the global economy via the following memberships in various associations:

• World Trade Organization;
• Commonwealth of Independent States;
• Eurasian Economic Union (along with Armenia, Belarus, Russia, Kyrgyzstan);
• Economic Cooperation Organization (along with Pakistan, Turkey, Iran, Azerbaijan, Afganistan);
• Shanghai Cooperation Organization.

The key economic sectors in Kazakhstan currently are oil & gas extraction and mining, construction, agriculture, logistics, and information technology. As mentioned the country is rich in minerals and hydrocarbons. Due to its geographic location, it is also a key transport hub for rail and other logistics between east and west.

The IT sector is growing fast in Kazakhstan, as it is globally. There are several organizations in Kazakhstan that support startup activity and IT firms. The Astana Hub for IT firms and startups is a special economic zone that provides tax breaks and easier visa regimes for IT investors. There are also many business incubators and accelerator organizations such as MOST and iStartUp.

Many business communities and chambers of commerce are active in Kazakhstan. For Finnish companies there is a well-established network of Business Finland active in the country.

QUALITY

We follow international accounting and business standards and we understand the needs of international clients. Our competitive edge is based on experience, quality and a Finnish background. We know that safety and reliability in financial matters is of the utmost importance for foreign companies in Kazakhstan and assist you from the first steps.

Feel free to contact us for client references.

CLIENT BASE

Leinonen Kazakhstan serves international clients of all sizes. As Finns we are culturally closest to Scandinavian and European companies, and always ready to help companies from farther away as well.

SOFTWARE WE USE

The accounting program 1C is used in the Kazakhstani market almost exclusively, the same as in Russia and most of the CIS region. In case of more complex client needs, our group has experience with various accounting programs such as Microsoft Dynamics, Sedab, Axapta, Hyperion, SAP, Scala, Hansa World and Directo.