The Venture Capital & Private Equity
Country Attractiveness Index
Alexander Groh, Heinrich Liechtenstein, Karsten Lieser and Markus Biesinger

Kazakhstan  
Rank: 53 · Score: 49.9  

Basic facts        
Population (millions) 19.6   IPOs and pulic issues (quartile) 3rd
GDP (US$ billions) 221.1   M&A volume (quartile) Bottom
GDP per capita (US$) 11,269.6   Venture capital investments (quartile) 2nd
GDP growth (per cent) 4.3   Private equity investments (quartile) Bottom
 
 
 
Performance Overview
Indicator   Rank / 125 Rank Trend Score
VC/PE Country Attractiveness Index 53 49.9
1 Economic Activity 34 80.2
2 Depth of Capital Market 50 40.0
3 Taxation 37 102.2
4 Investor Protection and Corporate Governance 40 78.2
5 Human and Social Environment 72 29.8
6 Entrepreneurial Opportunities 71 44.2


 
Historic performance, 2019-2023   Key driver performance, 2023
 

   
VC/PE Rank  
VC Rank  
PE Rank
Kazakhstan  
Asia
 
 
 
Peer Group Comparison
 
Regional Peers Economic Activity Depth of Capital Market Taxation Investor Protection and
Corporate Governance
Human and Social
Environment
Entrepreneurial
Opportunites
Indonesia 91.8 76.9 91.3 55.3 27.7 48.6
Philippines 86.8 66.7 89.0 55.5 29.9 41.6
Pakistan 77.2 56.3 67.0 60.7 29.3 48.0
Kazakhstan 80.2 40.0 102.2 78.2 29.8 44.2
Vietnam 87.0 36.9 98.3 51.7 29.4 50.1
Bangladesh 84.8 56.6 75.8 35.4 21.9 40.7
Russian Federation 88.0 35.5 103.3 9.8 37.0 69.2
Last updated: 4 Nov 2023