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Investment climate and its influence on the development of entrepreneurship: practice of the Republic of Kazakhstan

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  • Arslan Kulanov

    (Turan University, Kazakhstan)

  • Saltanat Tamenova

    (Turan University, Kazakhstan)

  • Kamilya Amenova

    (Narxoz University, Kazakhstan)

  • Alma Karshalova

    (Narxoz University, Kazakhstan)

  • Leila Tussupova

    (Turan University, Kazakhstan)

Abstract

The purpose of this study is to identify problems that impede the investment activities of small and medium-sized enterprises (SMEs) in the Republic of Kazakhstan, as well as to study the recommendations of the leading representatives in the business community regarding the activities of the authorities in creating a favorable investment climate. Expert interviews with the Kazakhstan’s entrepreneurs, representatives of Akimats, and representatives of the scientific community have been conducted during the study. The results of the expert survey allow to conclude that the Republic of Kazakhstan has developed a rather favorable investment climate in general, and the authorities have done significant work to create conditions for business development. However, according to the expert review, some problems in the implementation of investment projects by SMEs still remain. According to the experts, the most significant problems include the underdeveloped transport and logistics infrastructure, the lack of available production and office space, and difficulties with registering land, attracting foreign labor, as well as obtaining various permits required for doing business. As a result of the study, the recommendations have been made for eliminating the barriers that hinder the creation of a favorable investment climate and the successful development of SMEs in the Republic of Kazakhstan. According to the experts, the attention should be focused on creating and developing ready-made platforms for doing business for investors, improving transport and logistics infrastructure, speeding up the state property privatization, etc.

Suggested Citation

  • Arslan Kulanov & Saltanat Tamenova & Kamilya Amenova & Alma Karshalova & Leila Tussupova, 2020. "Investment climate and its influence on the development of entrepreneurship: practice of the Republic of Kazakhstan," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(2), pages 421-437, December.
    • Handle: RePEc:ssi:jouesi:v:8:y:2020:i:2:p:421-437
    DOI: 10.9770/jesi.2020.8.2(25)
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    References listed on IDEAS

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    1. Carmen Pagés-Serra & Reyes Aterido & Mary Hallward-Driemeier, 2007. "Investment Climate and Employment Growth: The Impact of Access to Finance, Corruption and Regulations Across Firms," Research Department Publications 4559, Inter-American Development Bank, Research Department.
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    3. Carmen Pagés-Serra & Reyes Aterido & Mary Hallward-Driemeier, 2007. "Investment Climate and Employment Growth: The Impact of Access to Finance, Corruption and Regulations Across Firms," Research Department Publications 4559, Inter-American Development Bank, Research Department.
    4. Marina Gennadievna Nikitina & Viktoriya Viktorovna Pobirchenko & Elena Alekseevna Shutaieva & Anna Ivanovna Karlova, 2018. "The investment component in a nation’s economic security: the case of the Russian Federation," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 6(2), pages 958-967, December.
    5. Gary Lynch-Wood & David Williamson, 2014. "Understanding SME responses to environmental regulation," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 57(8), pages 1220-1239, August.
    6. Jean-Jacques Dethier & Maximilian Hirn & Stéphane Straub, 2011. "Explaining Enterprise Performance in Developing Countries with Business Climate Survey Data," The World Bank Research Observer, World Bank, vol. 26(2), pages 258-309, August.
    7. Solomon Akpoviroro Kowo & Olusegun Adeleke Oba Adenuga & Olalekan Owotutu Sabitu, 2019. "The role of SMEs development on poverty alleviation in Nigeria," Post-Print hal-02188849, HAL.
    8. Galizhan MADIYEV & Ukilyay KERIMOVA & Aidos YESPOLOV & Assel BEKBOSSYNOVA & Gaukhar RAKHIMZHANOVA, 2018. "Fostering Investment Innovative Activity within the Agro Industrial Complex of the Republic of Kazakhstan," Journal of Advanced Research in Management, ASERS Publishing, vol. 9(3), pages 533-541.
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    More about this item

    Keywords

    investment climate; business environment; entrepreneurship; business climate; investment activities;
    All these keywords.

    JEL classification:

    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility

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