Companies in Russia hit by the international sanctions imposed in reprisal for d’ intervention of Ukraine are increasingly exploring ways to relocate to neighboring countries, including Kazakhstan, according to entrepreneurs working in the export sector.

Speaking at a press conference, Alexander Tsygankov, a representative from Kazakh-Export, a state-owned Nur-Sultan-based export insurance company, said that some are looking to use Kazakhstan as a transit nation for goods, while others want to move production facilities there altogether.

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Kazakhstan’s development institutions, including KazakhExport, which is designed to support the export of non-mineral resource goods, is adapting to meet the challenge on that unfolding situation.

Earlier this week, Ramil Mukhoryapov, the head of a major IT company in Kazakhstan, revealed that a Russian-founded cab-hailing app, InDriver, is poised to move to Almaty.

The strongest people from Russia (and the world) will come to live in Kazakhstan, pay taxes, spend money, train and transfer knowledge and technology to the people of Kazakhstan.

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By all accounts, the bulk of the enterprises and individuals making the move out of Russia to Kazakhstan are involved in the IT sector. The government had been trying to poach this talent before.

The Astana Hub, a government-backed IT park in Nur-Sultan that was created in 2017, was made the centerpiece of that initiative. Hundreds of people currently working out of the hub enjoy tax breaks and other incentives.

Arman Abdrasilov, chairman at Zerde, a state-owned IT holding company, told Eurasianet that Kazakhstan should be eagerly welcoming the influx of foreign talent.

Oil Price.com / ABC Flash Point News 2022.

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Bob Barker
Bob Barker
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04-04-22 23:57

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