2020 delivered a major and global shock to all businesses; lockdowns, negative oil prices and the tourism, entertainment and aviation sectors shrinking to levels that were unthinkable 18 months ago. But out of the cloud of Covid there is hope as businesses adapt and learn to access new markets in new ways. UDB Venture Support has set out to make Kazakhstan an easy market to access – giving you the benefit of local, tailored support at a reasonable price.
The pandemic has impacted business through:
Raising market access costs
- travel and meeting face to face has become difficult, and expensive if not impossible.
- border controls have increased due to pandemic precautions, freight rates have increased but there are also increased barriers to trade from Brexit in the Uk.
- whole sectors have been forced into an extended hibernation; aviation, tourism, entertainment and the return to normality has been slow and faltering.
- oil prices went negative – but have now returned to normal bands.
- online has become the new normal.
Reducing risk appetites
- while billionaires have got richer, most SMEs have struggled to sell product and keep going.
- focus has become localised – local and regional rules govern our everyday lives and the media. How do we break outside that box?
- long term impacts on health and the economy are unknown – no-one knows what the “new normal” will be or how this will affect the political and economic landscape to come. Uncertainty breeds uncertainty.
- Paying back pandemic debt will hamper countries without a diverse resource base – particularly if key sectors remain depressed.
Raising environmental awareness
- The risks of climate change were becoming clearer to us all pre-pandemic. The economic and practical dislocations to our lives of the last year has made the downside risks feel real.
- Policies are moving forward – renewables and forestry together with protecting red list species, biodiversity and sustainable tourism are playing a bigger role on the Kazakh agenda.
At UDB we believe that Kazakhstan will be one of the winners in the new world – Kazakhstan adopted broad public health measures early and showed economic growth in late 2020. It is well positioned with a low population, strategic position, large resource base, modernising economy and vaccination program. As Kazakhstan becomes a full WTO member, implements e-government, simplifies laws and looks to diversify its economy we believe it will provide a centre for growth in Central Asia.
At UDB we believe that Kazakhstan needs to access new expertise and sources of capital from abroad, and that foreign SMEs need a simpler way to access the Kazakhstan market. To help you look at the Central Asian Market simply and seriously, we have built a structured set of solutions that gets you from initial market assessment and opportunity identification through to registration with potential clients on their procurement systems, direct marketing, participation in tenders and following success, ongoing support to ensure that your project runs smoothly and to help you grow your business further.
Please contact us for a consultation – Kazakhstan is only a click away: firstname.lastname@example.org