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E-commerce to reach $1.2 billion a year by 2014: Minister of Communications and Information

15 september 2011, 00:44
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E-commerce is expected to reach $1.2 billion a year by 2014, Minister of Communications and Information Askar Zhumagaliyev told September 14, Novosti Kazakhstan reports.

“We expect Internet advertisements to double by 2014 (…) As of today, annual e-commerce turnover makes up $300 million, with Internet advertising turnover standing at $6 million”, Minister Zhumagaliyev told at the Digital Communications Kazakhstan 2011.

“The Ministry is working on some legislation drafts to facilitate the market, including through stiffer competition (…)”,according to the Minister.

June 9 cited Mr. Ignatov of video service as saying that the on-line advertisement market in Kaznet was estimated at $8.8 million in 2010 ($5 million in 2009).

Late July reported that thenumber of Internet users in Kazakhstan had exceeded 5 million people (34% of the country’s population), citing the Ministry of Communications.

Over 58 000 domain names had been registered in the Kazakhstan’s segment of the worldwide web by that time. The annual growth of the figure stands at 20-25%.

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