PwC conducted 1st Kazakhstan CEO Survey jointly with Forbes

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PwC has conducted a Global CEO survey for 16 years. Each year the survey provides business leaders, governments and the world’s business community a unique insight into the vision and decisions of global CEOs. This year to complement the Global survey we conducted the survey in Kazakhstan jointly with Forbes magazine.

CEOs of Kazakhstan’s leading companies shared their views on the topics such as their business growth perspectives, how they have changed their approach to managing their companies during the global economic crisis and what near-term threats they see as most serious for their business.  Also, we identified a number of issues where the CEOs of Kazakhstan companies disagree with their peers in Western Europe, the United States, Russia and China, and where their views concur.

Half of the Kazakhstan top managers interviewed said that global economic conditions will not change in the next 12 months. This is largely consistent with the global CEOs’ responses: 52% of the CEOs of major multinationals also expressed confidence that the global economy will not change significantly. 33% of Kazakhstan respondents believe that global economic growth will go up in the next 12 months, the number of pessimistic respondents is 10%. Their Russian colleagues believe that global economic growth will slow down in the next 12 months, while 31% of global CEOs share similar views.

Kazakhstan top managers have positive views not only on future global economic growth but also on their expectations regarding corporate revenue growth. However, comparing the results of the global and Kazakhstan surveys the numbers of those who are fully confident in their corporate revenue growth varies significantly depending on the country: Kazakhstan – 73%, Russia – 66%, China – 42%, USA – 30% and Western Europe – 22%.

Among the business risks and economic threats that worry the most CEOs in Kazakhstan are bribery and corruption as well as excessive regulation. One third of respondents are worried about lack of qualified personnel. In Russia, CEOs are concerned about economic slowdown / instability and lack of qualified personnel. CEOs from Europe and the US are worried about governmental responses to budget deficits and the size of sovereign debt (77% and 93%, respectively).

As for today’s priorities for the government of Kazakhstan; respondents named infrastructure development, training of skilled personnel and financial sector stability. More than half of the survey participants believe the government doesn’t provide enough support to innovations in the private sector. According to Kazakhstan CEOs, the least effective government policy regards training of skilled personnel, with 77% of CEOs sharing this opinion.

Improved operational efficiency will be the main area for investment over the next 12 months for 43% respondents in Kazakhstan and 63% in Russia. For comparison, Chinese CEOs named R&D and innovation while their colleagues from Europe and the US selected client base expansion as the main areas for investment.

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About PwC

PwC provides industry focused assurance, tax and advisory services to build public trust and enhance value for its clients and their stakeholders. More than 180,000 people in 158 countries across our network share their thinking, experience and solutions to develop fresh perspectives and practical advice. "PwC" is the brand under which member firms of PricewaterhouseCoopers International Limited (PwCIL) operate and provide services. Together, these firms form the PwC network. Each firm in the network is a separate legal entity and does not act as agent of PwCIL or any other member firm. PwCIL does not provide any services to clients. PwCIL is not responsible or liable for the acts or omissions of any of its member firms nor can it control the exercise of their professional judgment or bind them in any way. © 2013 PricewaterhouseCoopers. All rights reserved.

About Forbes Kazakhstan

Forbes Kazakhstan is a monthly magazine that features stories of both successes and failures of businessmen, new businesses and investments ideas, topical society and economic issues, journalistic investigations, reportage and information on how to spend money with pleasure. The magazine also publishes a series of ratings based on the unique methodology that has been used by American Forbes for many years. The concept of the magazine is focused on exclusiveness, novelty and analytics. Forbes Life and Forbes Woman are integral parts of the Forbes Kazakhstan. Forbes Kazakhstan has been published since September 2011.