Kazakhstan has seen an increase in the number of legal entities with foreign capital, rising 10% year over year to 65,952 companies, according to the Bureau of National Statistics.
Regional neighbors drive growth
The main drivers of this growth over the past year have not been Western countries, but Kazakhstan’s immediate neighbors — particularly Uzbekistan.
The number of companies with Uzbek capital surged 57.4% year over year, exceeding 9,600. The increase suggests that economic integration between Kazakhstan and Uzbekistan has reached a new level, with stronger logistics and trade ties.
Chinese firms expand rapidly
Chinese businesses are also expanding actively. The number of Chinese legal entities rose 58.8%, surpassing 8,700 companies.
This growth has been driven largely by manufacturing, energy and the fast-growing e-commerce sector.
Russia remains dominant despite decline
Russia still holds the largest share of foreign business in Kazakhstan, with about 22,700 companies — or 34% of the total.
However, the number of Russian companies declined by 2.1% compared with 2025.
Analysts describe this as a market «stabilization.» Rather than an influx of small firms that arrived during the relocation wave of 2022-2023, the market is now seeing the establishment of medium and large companies with sustained operations.
Notably, in the second quarter of 2025, more than 720 Russian companies exited Kazakhstan.
