FDI and Its Significance on Economic Development in Kazakhstan: Issues and Prospects

The purpose of this research is to evaluate economic situation of Kazakhstan’s market and its attraction to Foreign Direct Investors, to provide clear view of potential that Kazakhstan economy has and the prospective of further development of the area of the economy and the future of this country. The country of Kazakhstan is one of the largest world energy markets due to its considerable reserves of natural gas and crude oil. With the help of FDI this country can become one of the largest oil producers, but for that the country must grow to be more modern and diversify its economy to help it to get more integrated in to the global economy. Foreign investment can become the main driver of the economic growth of the country. Today, this country has already gotten the highest per capita indicator in the whole former Eastern Block. However, current policy is to support and to strengthen the non-oil sector of the economy, by diversifying of higher-value added industries, therefore in order to do that additional capital flow is required that can be brought in to the country with FDI possibilities.