Kazakhstan フロンティア市場
Central Asia · Astana · KZT (Kazakhstani Tenge)
経済・産業概況
Kazakhstan is the largest landlocked country in the world and the dominant economy in Central Asia, with nominal GDP of approximately $296–313 billion in 2024. The economy is heavily driven by hydrocarbon extraction — oil and gas account for a significant share of export revenues and fiscal receipts — alongside substantial mining of uranium, copper, zinc, chromite, and other metals. Kazakhstan is home to the world's largest uranium producer, Kazatomprom, which supplies over 40% of global primary uranium output. The financial technology and banking sectors have grown rapidly, exemplified by Kaspi.kz, which became one of the region's most valuable publicly traded companies. The government has pursued economic diversification efforts under successive national development programmes, with growing contributions from trade, construction, and digital services.
主要セクター
📘 Kazakhstanのすべてを知る →マクロ
| GDP 名目, USD | $296.70B |
| GDP成長率 実質, 年率 | 4.8% |
| インフレ率 年率 | 8.6% |
| 人口 人 | 19.8M |
| 一人当たりGDP USD | $14,005 |
| 時価総額 上場総額, USD | $57.00B |
| 時価総額/GDP | 19.2% |
| 失業率 | 4.6% |
| 上場企業数 | 130 |
| 取引所 | Kazakhstan Stock Exchange (KASE) |
データ年度: 2024. 出典: IMF World Economic Outlook 2024, World Bank Open Data 2024, Bureau of National Statistics of Kazakhstan, Kazakhstan Stock Exchange (KASE) 2024 Annual Market Summary, Macrotrends (World Bank CPI/Unemployment series), Qazaq Association of Minority Shareholders (QAMS) market cap rankings Dec 2024, Kursiv Media Kazakhstan, Astana Times, Wikipedia – Economy of Kazakhstan, Wikipedia – Kazakhstan Stock Exchange, Wikipedia – Kazatomprom.
主要上場企業
現地主要取引所における時価総額上位企業。
| # | 企業 | セクター | 時価総額USD | 米国上場 |
|---|---|---|---|---|
| 1 | KazMunayGasKMGZ · KASE | Oil & Gas | $19.70B | — |
| 2 | Kaspi.kzKSPI · KASE / Nasdaq | Fintech / Financial Services | $16.70B | KSPI |
| 3 | KazatompromKZAP · KASE / AIX / LSE | Uranium Mining | $11.20B | KAP |
| 4 | Halyk BankHSBK · KASE / LSE | Banking | $6.50B | HSBK |
| 5 | KazakhmysKAZ · KASE | Metals & Mining (Copper) | $3.50B | — |
| 6 | KcellKCEL · KASE | Telecommunications | $1.30B | — |
| 7 | KazakhtelecomKZTK · KASE | Telecommunications | $909.00M | — |
| 8 | Bank CenterCreditCCBN · KASE | Banking | $700.00M | — |
| 9 | KazTransOilKZTO · KASE | Energy (Pipeline / Oil Transport) | $650.00M | — |
| 10 | KEGOCKEGC · KASE | Electric Power / Utilities | $600.00M | — |
| 11 | Air AstanaAIRA · KASE / AIX | Aviation / Transportation | $550.00M | — |
米国上場ETF
この市場へのエクスポージャーを持つ米国上場ファンド — 多くの米国投資家にとって最もシンプルなアクセス手段です。
現地取引所とアクセス方法
| 取引所 | Kazakhstan Stock Exchange |
| コード | KASE |
| ウェブサイト | kase.kz |
| 通貨 | KZT |
現地ブローカーアクセス
Foreign investors can access KASE-listed shares through a limited number of Kazakhstani brokers that accept non-residents, including Freedom Finance (FRHC, US-listed), Halyk Finance, BCC Invest, and SBK. Kazatomprom trades on the London Stock Exchange (KAP) and the AIX; Kaspi.kz trades on the Nasdaq (KSPI). Direct retail brokerage access to KASE from Western platforms is limited; many international investors gain Kazakhstan exposure through regional ETFs or London/Nasdaq-listed shares and GDRs.
海外市場対応のグローバルブローカー
- Interactive Brokers — Direct access to 90+ markets worldwide, including many emerging exchanges.
- Saxo Bank — Multi-market access across Asia, Europe and the Middle East.
- Charles Schwab (Global) — Foreign ordinary shares on select markets; US-listed ADRs and ETFs.
- Fidelity International Trading — International stock trading on a number of developed and emerging markets.
参考情報として掲載しており、推奨ではありません。対応市場、手数料、口座開設条件はブローカーや居住国によって異なります。
移住・居住権
投資ビザ・居住権プログラム
付与内容 No formal investment-migration programme
Kazakhstan does not operate a formal Golden Visa or Citizenship-by-Investment programme in the conventional sense. Foreigners can obtain a long-term visa or temporary residency through investment, employment, or business activity under the general immigration framework, and the Astana International Financial Centre (AIFC) offers streamlined work-permit and residency pathways for qualifying financial-sector professionals and their families. There is no published minimum investment threshold for a dedicated residency-by-investment scheme comparable to EU golden visa programmes.
申請のサポートが必要な場合は、投資移住専門のアドバイザー（例： Henley & Partners.
外国人投資家のアクセス
Kazakhstan allows foreigners to obtain temporary residence permits through employment, business registration, or investment. The AIFC in Astana provides a distinct legal and regulatory environment under English common law with preferential work-permit processing for qualifying participants. Long-term (up to 10-year) visas are available to investors and highly qualified specialists. Kazakhstan does not grant citizenship by investment; naturalisation typically requires five or more years of continuous legal residence.
米国上場ADR・クロスリスティング
米国でも株式が取引されている当該国の企業 — 通常の米国証券口座で投資可能です。
| 企業 | 米国ティッカー | 現地ティッカー | 備考 |
|---|---|---|---|
| Halyk Savings Bank of Kazakhstan | HSBK | HSBK | Halyk Bank GDRs trade on the London Stock Exchange under HSBK. There is no active US-exchange ADR; OTC pink-sheet trading may be available to some US investors under HSBNF but liquidity is very limited. |
| Kaspi.kz JSC | KSPI | KSPI | Kaspi.kz listed ordinary shares on the Nasdaq Global Select Market in January 2024, making it the first major Kazakhstani technology company to achieve a US exchange listing. Each Nasdaq-traded share represents one ordinary share of the company. |
| NAC Kazatomprom JSC | KAP | KZAP | Kazatomprom's global depositary receipts (GDRs) trade on the London Stock Exchange under the ticker KAP; there is no direct US OTC or exchange ADR, but the LSE GDRs are accessible to many US institutional investors. The company also trades on the Astana International Exchange (AIX). |