Substantiation of business models in the agro-industry: The case of Kazakhstan and Central Asian countries

Abstract

The purpose of the study was to investigate the key factors influencing the choice and effectiveness of business models in the agro-industrial sector of Kazakhstan and Central Asia. The research methodology included an analysis of statistical data, a comparative analysis of business models, and an assessment of the impact of external economic and climatic factors on the sustainability of agribusiness in the region. In the course of the study, the existing business models of agricultural enterprises were investigated and categorised, their key features and factors influencing their choice were identified. The dynamics of the total volume of agricultural production in Kazakhstan, Uzbekistan, and Kyrgyzstan was analysed with the conversion of indicators into USD, which helped to objectively assess the scale and trends of the agricultural sector. The total volume of agricultural production in Kazakhstan in 2023 amounted to USD 16.12 billion, in Uzbekistan – USD 35.26 billion, and in Kyrgyzstan – USD 4.44 billion. Investment projects in the agro-industry, including large investments in greenhouse complexes, processing of agricultural products and digitalisation of the industry, were considered in detail. Using the example of Atameken-Agro, a detailed financial analysis was carried out, fluctuations in profitability and the impact of economic factors on business profitability and sustainability were revealed. The results showed that digitalisation, the introduction of precision agriculture, vertical integration, and an export orientation for processed products are the key drivers of the region’s agro-industry growth. Based on the identified trends, recommendations have been developed for the selection and adaptation of business models for agricultural companies in Kazakhstan and Central Asia. These include the development of cooperative structures, the introduction of sustainable agricultural technologies, increasing the investment attractiveness of the sector and the diversification of production. The conclusions of the study confirmed the need for an integrated approach to the development of agribusiness in a region where digitalisation, government support, and integration into global markets play a crucial role in increasing the competitiveness of agricultural enterprises