Word: dorofeyev
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Dates: during 2000-2009
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...rapidly privatized over 10,000 trading, service and industrial firms. As often happened in post-Soviet countries, the best of these firms were sold off to insiders, shoring up the power bases of important clans. But the biggest economic engine was oil, and that required outside help. Says Mikhail Dorofeyev, public relations director of KazMunaiGaz: "We offered oil to the West in exchange for technology, know-how and money...
...rapidly privatized over 10,000 trading, service and industrial firms. As often happened in post-Soviet countries, the best of these firms were sold off to insiders, shoring up the power bases of important clans. But the biggest economic engine was oil, and that required outside help. Says Mikhail Dorofeyev, public relations director of KazMunaiGaz: "We offered oil to the West in exchange for technology, know-how and money." To help attract that money, Kazakhstan established a single investment regime for both domestic and foreign investors, and since 1993 over $40 billion in gross direct foreign investment has flowed...