Project Office for Investors Protection will be established in Kazakhstan
A Project Office for Investors Protection will be established in Kazakhstan. At an international business forum in Astana, a memorandum was signed by Kazakhstan’s Agency for Civil Service Affairs, the Ministry of Investments and Development and the Ministry of Foreign Affairs. The Project Office will assist investors and ensure observance of legislation during business audits.
DIDAR SMAGULOV, SENIOR STAFF, KAZAKH AGENCY FOR CIVIL SERVICE AFFAIRS:
- Jointly with the Ministry of Investments and Development and the Ministry of Foreign Affairs, we developed a memorandum that will help simplify cooperation as much as possible, first, among the three government bodies and, secondly, between us and investors. This Project Office will be made up of the staff from the three government bodies and will be operating on a regular basis. It will be directly engaged in protecting the rights of investors and providing support for them, as well as ensuring business-friendly environment in general.
Improvement of investment attractiveness is a top priority for Kazakhstan. Last year, Kazakhstan became a member of the OECD Investment Committee. It is a testimony of Kazakhstan’s investment environment’s compliance with international requirements. Kazakhstan has successfully dialogue platforms such as the Foreign Investors’ Council under the President, the Council for Investment Environment Improvement under the Prime Minister, and the Investments Ombudsman.
SALAUAT MUKSIMOV, DEPARTMENT DIRECTOR, KAZAKH AGENCY FOR CIVIL SERVICE AFFAIRS:
- The government is working on it. In Kazakhstan, visa-free arrangements have been introduced for 56 states. The Kazakh government has also signed the Convention on Investments. And we have also concluded over 50 bilateral and multilateral treaties on investments protection.
Experts believe that the government’s efforts to improve protection of investors’ rights and interests will significantly enhance Kazakhstan’s investment attractiveness for foreign business. It means that a lot of new interesting projects will soon be established in Kazakhstan.