Economy of Kazakhstan

Video Transcript

Kazakhstan's economy was in a very harsh situation after the collapse of the Soviet Union. Nothing was working at full speed, everything was half broken. Because there was a time already for a lot of things to be modernized, rebuilt, maintained. And that was all that Kazakhstan was left with. Basically what happened was that we need investments, we need money, we need funds to fund these projects. And the first thing, again, our government did was attracted all the investors from different countries. And I think the biggest one was the United States.

What happened then was that things started recovering. So we had the, again, the metallurgical, metal [unclear], metal industry working back on track. We started developing the oil infrastructure; now it's working. And then by that, also by building those main driving forces of the economy, everything else started improving. So in the service industry, what do you call it? Service industry? That started improving, so people started having back jobs, salaries.

In this video, a Kazakh native discusses the economic structure of Kazakhstan.