50 global companies left Russia for Kazakhstan

50 international companies that choose to leave Russia have relocated to Kazakhstan, and 50 more could follow soon, according to the reports.

Since Moscow invaded Ukraine in late February, more than 50 foreign businesses have moved from Russia to Kazakhstan, while another 56 have “indicated their willingness to settle in Kazakhstan.”

Alikhan Smaiylov, the prime minister of Kazakhstan, gave reporters a briefing on the subject this week and supplied the image. The update on the significant business relocation coincides with a significant move of Russian men, occasionally accompanied by families, to Kazakhstan in response to Vladimir Putin’s military mobilization to secure more troops for the war. This is happening in response to the economic pushback against Moscow for its war in Ukraine. According to Kazakh officials, 200,000 Russians fled to Kazakhstan in the weeks following the start of the mobilization in September to avoid being called up.

It’s unclear how many people have stayed and how many have migrated to third-world nations. The Korea Herald published an article from Project Syndicate on October 20 by Djoomart Otorbaev, a former prime minister of Kyrgyzstan and the author of the upcoming book “Central Asia’s Economic Rebirth in the Shadow of the New Great Game,” in which he discussed this and other related topics. He wrote: “Bishkek’s residents have been confronted with an unusual sight these past few weeks. Tens of thousands of educated men with European traits are swarming the streets of the city of Kyrgyzstan as Russian residents flee President Vladimir Putin’s ‘partial mobilization’ of 300,000 reservists to wage his war against Ukraine.

President Kassym-Jomart Tokayev of Kazakhstan noted the significant influx of Russian businesses into his country and stated that the relocated businesses should be settled by authorities in Almaty, the commercial center of the nation.

“This will have a big positive impact on our nation’s economy. Talk to the businesses and the government about this “Tokayev informed the authorities of Almaty.

Over a thousand foreign companies stopped or suspended their operations in Russia after the start of the war in Ukraine, while 320 foreign companies completely left the Russian market.

In March, Roman Vasilenko, Kazakhstan’s deputy foreign minister, told the German newspaper, Die Welt, that businesses that were leaving Russia due to the effects of the conflict in Ukraine were welcome to shift their production there.

On July 14, Kassym-Jomart Tokayev, the president of Kazakhstan, suggested providing “favorable conditions” for the roughly 1,000 foreign companies that had ceased business in Russia.

“We are seeing competition for investment capital on a global scale. In a cabinet meeting, he stated that one in two of the nearly 1,400 significant foreign businesses had stopped doing business in Russia or had completely abandoned it.

“The government ought to make it easier for them to move to Kazakhstan. This will provide us with a great opportunity to boost production, he continued.

The most recent statistics on businesses moving to Kazakhstan appear to be consistent with the nation’s previously stated aspirations.

Many of the tens of thousands of Russians who left Kazakhstan in response to Putin’s mobilization may have gone on to Uzbekistan and Kyrgyzstan, two other Central Asian nations. Many highly qualified information technology professionals that officials in all three nations view as “prize captures” as they attempt to develop domestic IT firms are among those seeking self-exile.