Abstract:
This thesis investigates the influence of various characteristics on project costs and the
volume of attracted investments in Public-Private Partnerships (PPPs) in Kazakhstan. Using a
comprehensive dataset compiled from numerous PPP projects within the country, the study
employs Ordinary Least Squares (OLS) regression analysis to explore how factors such as project
level, object type, economic sphere, and type of initiative impact the financial metrics of these
projects.
The quantitative analysis reveals significant findings about how these variables affect project
costs and investment attraction. For instance, projects at the national level tend to have higher
costs but also attract more significant investments compared to local projects, likely due to the
scale of the projects and government backing, which reduces perceived investor risk. High-tech
projects are shown to be more expensive, highlighting the need for specialized investment in
technology-driven sectors. The analysis also points out that the economic sphere of a project has
varying impacts on its ability to attract investments; projects in sectors with government guarantees,
regardless of the economic sphere, tend to attract more investments.
Qualitative interviews with key stakeholders—including representatives from the government,
private investors, and a PPP development center—complement the quantitative findings. These
interviews underscore the importance of strategic government support and the need for balanced
regulatory frameworks to foster a conducive environment for PPP development. Stakeholders
emphasize the necessity of adopting international best practices and adapting them to the local
context to enhance the effectiveness of PPP projects in Kazakhstan.
The study concludes that both the government and private sectors must collaborate more
closely to leverage the full potential of PPPs. Recommendations for policy adjustments are
provided, focusing on improving legal frameworks, increasing transparency, and strengthening
government commitments to PPP projects. This research contributes to a deeper understanding of
how different project characteristics influence the economic outcomes of PPPs and offers insights
into strategic decision-making for future PPP initiatives in Kazakhstan.
This thesis not only contributes to academic knowledge by filling gaps in existing research on
PPPs in Kazakhstan but also offers practical recommendations that could help in refining the
approaches to PPP implementation, ensuring that these projects are both cost-effective and
attractive to investors, thereby facilitating sustainable economic development.
