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Kazakhstan promises uniform investor protection, ending regional disparity
🇰🇿 Kazakhstan /Economy & Trade

Kazakhstan promises uniform investor protection, ending regional disparity

From Tengrinews · () English

Translated from English, summarized and contextualized by DistantNews.

At a glance

News Sources not specified New plan
  • Kazakhstan has launched an Expert Council for the Protection of Investors' Rights to ensure uniform protection standards nationwide.
  • The council aims to build trust by turning law into a competitive advantage, reducing administrative pressure and criminal prosecution on businesses.
  • This initiative seeks to eliminate regional disparities and improve the business environment, particularly in the construction industry.

Kazakhstan is implementing a new, comprehensive system to protect investors and foster trust, aiming to make its legal framework a competitive advantage on the global stage. The Prosecutor General's Office announced the launch of an Expert Council for the Protection of Investors' Rights, a permanent platform bringing together government bodies, businesses, lawyers, and economists.

Prosecutor General Berik Asylov emphasized that "Competition for trust, not just resources" is key in today's global economy. He presented an end-to-end business protection system designed to provide prosecutorial supervision at all stages of investor interaction with the state. This system has already protected the rights of over 3,000 investors and ensured the implementation of more than 270 investment projects, expected to create 30,000 jobs.

Today, global competition is not for resources, but for trust. We must turn the law into Kazakhstan's competitive advantage. This requires more than just cosmetic changes; it demands a consistent improvement in the relationship between the state and business.

— Berik AsylovProsecutor General Berik Asylov speaking at the launch of the Expert Council for the Protection of Investors' Rights, highlighting the importance of trust and legal framework in global competition.

The initiative also addresses systemic issues like administrative pressure on businesses, which has seen a nearly 40 percent decrease in legal disputes with government agencies and a 16 percent fall in administrative liability cases. The criminal prosecution of entrepreneurs is also trending downward, with over 800 government decisions potentially violating investor rights blocked this year alone.

A significant focus is on establishing uniform protection standards across Kazakhstan, eliminating "regional variances." Recent legislative changes empower the Prosecutor General to enforce a unified procedure for supporting investment projects, making prosecutorial supervision orders binding on state and quasi-state organizations. Solutions are also being developed to streamline the construction industry, historically burdened by administrative barriers.

Competition for trust, not just resources

— Berik AsylovProsecutor General Berik Asylov's statement on the nature of global competition.
DistantNews Editorial

Originally published by Tengrinews in English. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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