Kazakh Government reviews proposals on investment climate improvement
Kazakhstan proposes to implement a number of comprehensive measures to further improve the investment climate. For example, to lower the investment threshold for obtaining state support and to reduce the time required for approval of applications for preferences from entrepreneurs by the government. Such proposals were considered at a meeting of the Economic Policy Council chaired by Kazakh Prime Minister Alikhan Smailov. He stressed that the emphasis should be put on measures to reduce the pressure on business made by law enforcement agencies. It is also necessary to revise the Code of Criminal Procedure in order to eliminate unjustified grounds for instituting criminal proceedings against employers. In general, there is a gradual recovery of activity observed despite the wait-and-see attitude of investors due to the external economic situation, according to the Minister of National Economy. Moreover, there has been an increase in foreign investment in the non-oil sector. The total volume of investment in fixed assets amounted to around 15 trillion tenge last year, which is about 94 percent of the plan.