.

Over the past 10 years, major changes around the world have led companies to put increased emphasis on emerging markets in making investment decisions for the future. As a developer of infrastructure and hospitality industries in a number of markets, I have seen first-hand where the greatest opportunities exist and how much a decision to invest is influenced by the vision and stability of the leadership in a particular country. And often times, this is also a key indicator of economic opportunity.

Take Kazakhstan, for example. It is where I have worked for the past 10 years, and where I have witnessed the tremendous economic transition that has taken place. Yet the opportunity for growth is still quite significant. Today, Kazakhstan is the 9th largest country in the world, boasting a vibrant business sector that presents tremendous opportunities for foreign investors.

A poster child for such opportunity is Kazakhstan’s capital, Astana, where I decided to strategically place my first hotel in the country, the Rixos Astana. As recently noted by President Nursultan Nazarbayev, Astana is the only capital in the 21st century built in the last 10 years. The President remarked that, “the development of Astana is closely linked to the nation’s fate and its independence record.” The city itself has become an important symbol for the future of the country—a symbol of nationhood and sovereignty for its citizens.

For this reason, I think it is fitting that Astana will host the Expo 2017—an expo that promises to be an exciting demonstration of transitions, just like Kazakhstan itself. The focus will be on showcasing innovative solutions for the future in critical sectors like energy. For example, why is diversifying away from, or in concert with, traditional petroleum-based resources not only the smart thing to do, but the right thing to do? Using the Expo to highlight these transformational ideas and technologies can bring a new way of thinking and doing to the entire region. Kazakhstan, with its historic position on the Silk Road, will be the regional catalyst for increasing the important role Central Asia plays in our global economy.

Kazakhstan’s Expo 2017 Future Energy is indeed a fitting topic. The country is rich in natural resources and is playing a leading role in the promotion of peaceful nuclear energy, an important global effort in which they are leading by example. The expo also has the potential to provide Astana—an increasingly vibrant, modern city—and Kazakhstan as a whole with the necessary connectivity, infrastructure, and development to further diversify the economy and start its next chapter in economic growth.

This is why I am excited to lead the development of this important and transformational event for Astana and for Kazakhstan. It is an opportunity to share a city and country I have come to know quite well—a country for which I, and the rest of the world, have great respect.

In November, Kazakhstan’s President Nazarbayev announced a shift in economic policy and a multi-billion dollar increase in funding for a network of modern highways, power lines, ports, and ferry services in the Caspian Sea, along with a transport hub on the border with China. Kazakhstan’s goal is to use this new domestic infrastructure to improve its economy and to increase foreign trade. Prior to this year's Asia Pacific Economic Cooperation Forum, Chinese President Xi Jinping discussed in detail China’s plans to make massive investments in a new Silk Road and to develop infrastructure throughout central Asia, especially Kazakhstan, where the initiative was originally announced. At the same time, the Customs Union of Russia, Belarus, and Kazakhstan, which allows Kazakh goods to easily move between member countries, is continuing with economic integration.

Kazakhstan is positioned to become an export center from which goods can reach Russia, China, and the rest of continent, and also to become a transport hub connecting Europe with the quickly growing economies of Asia. Kazakhstan—already a regional leader in attracting foreign direct investment because if its high GDP growth rate, macro-economic stability, low taxes, and the importance the government places on welcoming foreign companies—will become an even greater draw for multinationals interested in Kazakhstan's market and markets in the rest of Eurasia.

I speak from first-hand experience as a foreign investor who is now a proud honorary citizen of the country, and I invite bold and progressive investors to join me in this interesting journey.

Fettah Tamince is President of SML Construction Co. and Chairman of Rixos Hotels.

Photo: Astana Times.

This article was originally published in the Diplomatic Courier's January/February 2015 print edition.

The views presented in this article are the author’s own and do not necessarily represent the views of any other organization.

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Kazakhstan and Expo 2017: Showcasing the Future Central Asia

February 11, 2015

Over the past 10 years, major changes around the world have led companies to put increased emphasis on emerging markets in making investment decisions for the future. As a developer of infrastructure and hospitality industries in a number of markets, I have seen first-hand where the greatest opportunities exist and how much a decision to invest is influenced by the vision and stability of the leadership in a particular country. And often times, this is also a key indicator of economic opportunity.

Take Kazakhstan, for example. It is where I have worked for the past 10 years, and where I have witnessed the tremendous economic transition that has taken place. Yet the opportunity for growth is still quite significant. Today, Kazakhstan is the 9th largest country in the world, boasting a vibrant business sector that presents tremendous opportunities for foreign investors.

A poster child for such opportunity is Kazakhstan’s capital, Astana, where I decided to strategically place my first hotel in the country, the Rixos Astana. As recently noted by President Nursultan Nazarbayev, Astana is the only capital in the 21st century built in the last 10 years. The President remarked that, “the development of Astana is closely linked to the nation’s fate and its independence record.” The city itself has become an important symbol for the future of the country—a symbol of nationhood and sovereignty for its citizens.

For this reason, I think it is fitting that Astana will host the Expo 2017—an expo that promises to be an exciting demonstration of transitions, just like Kazakhstan itself. The focus will be on showcasing innovative solutions for the future in critical sectors like energy. For example, why is diversifying away from, or in concert with, traditional petroleum-based resources not only the smart thing to do, but the right thing to do? Using the Expo to highlight these transformational ideas and technologies can bring a new way of thinking and doing to the entire region. Kazakhstan, with its historic position on the Silk Road, will be the regional catalyst for increasing the important role Central Asia plays in our global economy.

Kazakhstan’s Expo 2017 Future Energy is indeed a fitting topic. The country is rich in natural resources and is playing a leading role in the promotion of peaceful nuclear energy, an important global effort in which they are leading by example. The expo also has the potential to provide Astana—an increasingly vibrant, modern city—and Kazakhstan as a whole with the necessary connectivity, infrastructure, and development to further diversify the economy and start its next chapter in economic growth.

This is why I am excited to lead the development of this important and transformational event for Astana and for Kazakhstan. It is an opportunity to share a city and country I have come to know quite well—a country for which I, and the rest of the world, have great respect.

In November, Kazakhstan’s President Nazarbayev announced a shift in economic policy and a multi-billion dollar increase in funding for a network of modern highways, power lines, ports, and ferry services in the Caspian Sea, along with a transport hub on the border with China. Kazakhstan’s goal is to use this new domestic infrastructure to improve its economy and to increase foreign trade. Prior to this year's Asia Pacific Economic Cooperation Forum, Chinese President Xi Jinping discussed in detail China’s plans to make massive investments in a new Silk Road and to develop infrastructure throughout central Asia, especially Kazakhstan, where the initiative was originally announced. At the same time, the Customs Union of Russia, Belarus, and Kazakhstan, which allows Kazakh goods to easily move between member countries, is continuing with economic integration.

Kazakhstan is positioned to become an export center from which goods can reach Russia, China, and the rest of continent, and also to become a transport hub connecting Europe with the quickly growing economies of Asia. Kazakhstan—already a regional leader in attracting foreign direct investment because if its high GDP growth rate, macro-economic stability, low taxes, and the importance the government places on welcoming foreign companies—will become an even greater draw for multinationals interested in Kazakhstan's market and markets in the rest of Eurasia.

I speak from first-hand experience as a foreign investor who is now a proud honorary citizen of the country, and I invite bold and progressive investors to join me in this interesting journey.

Fettah Tamince is President of SML Construction Co. and Chairman of Rixos Hotels.

Photo: Astana Times.

This article was originally published in the Diplomatic Courier's January/February 2015 print edition.

The views presented in this article are the author’s own and do not necessarily represent the views of any other organization.