Who Is Now Protecting Investors In Kazakhstan

Kazakhstan’s Prosecutor General’s Office says it has expanded its role in protecting investors and now oversees major investment projects across the country, Orda.kz reports.

A forum on investment protection with domestic and foreign investors opened at the Prosecutor General’s Office under the chairmanship of Berik Asylov.

The agency said the president’s position remains unchanged: investors must be confident in protection, transparency, and stable working conditions.

According to Asylov, Kazakhstan currently has 48 intergovernmental agreements on investment protection. Support has already been provided to 2000 investors, covering more than 250 projects and about 30,000 jobs.

Officials say every major investment project is now supervised by the prosecutor’s office, with a specific prosecutor assigned to each investor.

The agency also highlighted the role of the government’s investment headquarters. Over the past two years, it has reviewed more than 200 projects worth over $100 billion. Asylov added that the volume of investment agreements has increased 15 times.

Now the law provides for the so-called prosecutor’s filter for all state bodies. They have no right to inspect an investor, suspend their activities, revoke licenses, or impose other restrictions without the consent of the prosecutor. This is the implementation of our supervisory function. If the decision or action of a state body is illegal, we will cancel it, and the guilty officials will be punished. If there are obstacles in the legislation, they will also be eliminated.Asylov said.

He also said the prosecutor’s office has begun reviewing by-laws for hidden barriers to business.

Original author: Alexander Smolin

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