Kazakh Senate returns law on doing business to Mazhilis

Kazakh Senate returns law on doing business to Mazhilis

The Senate, an Upper House of the Kazakh Parliament, reviewed the law envisaging the modernization of national legislation in the field of entrepreneurial activity and the creation of favorable conditions for business development. The MPs disagreed with certain provisions of the corresponding document and returned it to the Mazhilis, a Lower House of the Kazakh Parliament, after making a number of amendments and proposals. They particularly provide for bringing certain law provisions in line with the principles and approaches of regulatory policy. Besides, the changes concern the establishment of the procedure for the application of the marginal trade mark-up determined by the authorized body in the field of trade regulation. According to Senate members, the procedures for implementing mechanisms to stabilize prices for socially significant goods were also reviewed, given targeted support for vulnerable segments of the population. Furthermore, among the amendments there was the issue of improving the mechanism for ensuring domestic raw material supply to processing industry enterprise. First Vice Minister of National Economy Timur Zhaksylykov noted that members of the working group carried out extensive work to improve the law under discussion by reviewing about 3,000 normative legal acts and 128,000 mandatory requirements, 10,000 of which were found to be inconsistent with the new regulatory policy.

“Business inspections will be reduced by more than 2.5 times. Overall, nearly 120,000 inspections were conducted annually before the moratorium was introduced in 2020. Following the law’s adoption, the number is expected to decrease to 45,000-50,000 inspections. An automated selection of subjects and objects of public control will be introduced based on automated risk management systems. In addition, as I mentioned earlier, requirements will be drastically reduced. All these measures suggest that our business climate will be significantly enhanced,” said Zhaksylykov.