Kazakhstan and Kyrgyzstan Update Investment Protection Agreement
Photo: Gov.kz
Kazakhstan’s Parliament has ratified a new agreement with Kyrgyzstan on the mutual promotion and protection of investments, Orda.kz reports.
Vice Minister of Foreign Affairs Alibek Kuantyrov presented the updated agreement, which was signed in Astana on April 19, 2024. The previous investment protection treaty between the two countries had been in place since 1997.
The updated version was proposed by the Kyrgyz side following changes to their executive government structure in 2021. After nearly 30 years, the old agreement needed to be revised,Kuantyrov explained.
He noted that the new agreement ensures legal safeguards for investors, offering more transparent and predictable conditions for investment activities. Key provisions include protection against expropriation, fair and equitable treatment of foreign investments, and the right to access international arbitration.
Kazakhstan currently has 51 bilateral agreements on investment protection, with 46 of them already in force.
As Prime Minister Olzhas Bektenov recently highlighted, Kazakhstan has attracted $130 billion in foreign direct investment over the past six years, $72.7 billion of which went to the manufacturing sector.
Original Author: Anastasia Prilepskaya
Latest news
- Tankers Stay Away From CPC Terminal, Putting Kazakhstan’s Oil Output at Risk
- Electricity in Exchange for Crypto: Kazakhstan’s New Mining Strategy Explained
- National Falconry Team Member Kept 35 Rare Birds Illegally
- Five Fields Where University Grants Will Be Hardest to Win
- Kazakhstan to Build 3 Billion Tenge Dam Along Lake Alakol
- From Driverless Trucks to Car Leasing: What Kazakhstan’s Government Discussed Today
- Kazakhstani Gets 3 Years for Fake Army Abuse Story
- Almaty Man Beaten After Being Mistaken for a Drug Courier
- PIN Code Parcel Pickup and Hybrid Mail: Kazakhstan Changes Postal Rules
- Kazakhstan Schools to Bring In Officers for New Constitution Classes
- Kazakhstanis Rescue Two Pelicans Exhausted by Extreme Heat
- 719 Million Tenge Tobol River Sand Mining Case Goes to Court
- Which Kazakh Product Is Finding New Buyers Abroad?
- Kazakhstan Seeks UNESCO Status for Mangystau Rock Mosques
- Fire Breaks Out in Almaty Region Mountains
- 19 Forest Fires Reported Across Kazakhstan’s Protected Areas
- Patient Fined for Threatening Kostanay Medical Worker
- Six Die from Gas Poisoning During Sewer Repairs in Pavlodar Region
- Kazakhstan Considers FIA Grade 1 Racetrack in Atyrau
- Drone Attacks Continue at CPC Terminal: Another Oil Tanker Hit
