The Republic of Kazakhstan continued to assert itself as a dynamic transitional economy and attractive emerging market during 2005. With economic growth of 9.4% in 2004, the country's economic expansion continued as a result of increased oil and gas production spurred by rising global demands for energy. While Kazakhstan is attractive to international energy companies, the energy sector is not the only source of investor interest, with over $1.5 billion of investment projects currently underway. President Nazarbayev's re-election in December 2005, while not indicative of a fully-fledged democracy, continues to create a strong semblance of political stability in Kazakhstan, which is vital for attracting investment and facilitating growth.
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Dr. Marat Terterov holds a Ph.D. from St.Antony's College, Oxford. He is author of over a dozen books addressing the business environment in the former Soviet Union and the Middle East. He recently co-authored a major USAID study evaluating privatization in Egypt and, as a consultant to the UK government, has advised British companies on Uzbekistan, Kazakhstan and other countries. He speaks frequently at the Centre for International Briefing and is author of academic articles on the Middle East and the former Soviet Union. He also holds a Chevening Scholarship. He has edited over a dozen books for Global Market Briefings on foreign investment in countries of the former Soviet Union, the Balkans and the Middle East, including Russia, Ukraine, Georgia, Kazakhstan, Serbia, Croatia, Bahrain, Egypt and Libya.
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