Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Kazakh president hints he may seek to emulate Singapore's Lee

Published 06/03/2015, 16:14
© Reuters. Kazakhstan's President Nursultan Nazarbayev attends a meeting in Almaty

By Raushan Nurshayeva

ASTANA (Reuters) - Kazakhstan's veteran leader, widely expected to seek re-election in a snap poll next month, hinted on Friday he might yet decide to step down but keep the Central Asian nation under his control, citing Singapore's "founding father" as an example.

President Nursultan Nazarbayev, 74, has run Kazakhstan, rich in oil and gas reserves, since 1989 when he headed the local Communist Party within the Soviet Union. His current five-year term formally ends only in late 2016, but he has called an early election for April 26.

He said then that he had not decided if he would run in the election, and on Friday he raised new questions, saying it was time to "change scene" in his vast steppe nation of 17 million.

"Frankly speaking, my personal plans were completely different," he told a meeting with Kazakhstan's prominent women ahead of the International Women's Day celebrated on March 8.

"I have run Kazakhstan for many years already, I stood at the cradle of its independence, so maybe it's time to 'change stage', as they say in a theatre. I am thinking about this."

Nazarbayev oversaw liberal market reform and, balancing relations with Russia with Western ties, attracted massive foreign investment to his nation; but he is criticised in the West for his authoritarian style and opponents are not indulged.

On Friday, he cited the case of Singapore, where the three-decade rule of Prime Minister Lee Kuan Yew transformed a backward city state into a prosperous "Asian Tiger".

Lee, 91, who is admired by Nazarbayev, headed the country's ruling party and led Singapore in 1959-1990.

He later remained in control, holding the posts of senior minister and of minister mentor.

"The founding father of Singapore, Lee Kuan Yew ... once stepped down, and I asked him why," Nazarbayev said. "And the answer was: 'I had ruled for 31 years, and when I watched myself on television, I did not like myself'."

"And I said that television distorts things and that well, maybe it's not worth watching TV, but I have a similar plan," he said, laughing, but did not elaborate.

Friday's remarks are likely to rekindle speculation over a possible successor, a question that while closely watched by investors has not been encouraged by Nazarbayev.

© Reuters. Kazakhstan's President Nursultan Nazarbayev attends a meeting in Almaty

His Nur Otan party will hold a congress on March 11. Nazarbayev will participate as a delegate, but the party has not said if it will appoint him as candidate to run in the election.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.