The number of Chinese companies registered in Kazakhstan has surged, with a 3.3% increase in August 2024 alone, as 150 new entities were added, bringing the total to 4,700 legal entities, according to the First Credit Bureau (FCB). This marks the highest monthly growth since 2022. Analysts attribute the steady rise to favorable business conditions in the region, despite a slight dip in November 2023, when the number of registered Chinese firms decreased by 20.
Of the registered Chinese companies, more than 3,000 are currently operational, indicating strong market engagement. No other foreign partner country showed a similar increase in August. Additionally, the number of jointly owned Chinese companies rose by 2.6% month-on-month (MoM), reaching 902.
In contrast, the number of Russian companies in Kazakhstan has been decreasing for the first time since Russia’s invasion of Ukraine in February 2022. In August, the number of registered Russian enterprises dropped by 13 compared to July, and operating Russian firms fell by 138, reducing the total to 23,500. However, joint ventures with Russian partners increased slightly by 0.6%, bringing the total to 5,000.
According to the Bureau of National Statistics, Kazakhstan had 31,900 registered foreign companies by August, with 12.1% based in Almaty, 11.7% in Astana, and 6.7% in the Karaganda region. The largest sectors for company registration were services, wholesale and retail trade, and professional research and engineering activities.
