An international business forum on the theme "Investment Climate in the Republic of Kazakhstan: Institute of the Investment Ombudsman and Mechanisms for Combating Corruption" was held in Astana today.

Chairman of the Agency for Civil Service Affairs and Anti-Corruption, Alik Shpekbayev, Minister of Foreign Affairs, Kairat Abdrakhmanov, Minister for Investments and Development, Zhenis Kassymbek, Commissioner for the Protection of Entrepreneurs' Rights, Bolat Palymbetov, deputies of the Senate and the Majilis of the Parliament, representatives of diplomatic missions in Kazakhstan , local executive bodies, AIFC, foreign and Kazakh business circles, international financial institutions and representatives of the public, took part in the work of the forum.

The issues of improving the investment climate, creating favorable conditions for attracting investments, protecting investors' rights, countering corruption, reducing costs for business, the work of the investment ombudsman, and others were discussed at the forum.

In this connection, within the framework of the business forum, a memorandum on cooperation between ACSAAC, MFA and MID RK was signed. The document provides for the creation of a special Project Office "Protecting Investments," joint monitoring of compliance with legislation during inspections of investment activity subjects and prevention of violation of legislation by state bodies, rapid exchange of information, holding joint meetings on a regular basis.

For reference: In 2017, more than 43 appeals were addressed to the investment ombudsman, of which 11 actions were taken to ensure compliance with and protection of rights of legitimate investors (issues were resolved in favor of investors), on 18 appeals, recommendations were made for their resolution (clarifications were given, consultations were held) 14 applications were not within the competence of the ombudsman (subject of a dispute between business entities, litigation, etc.). More often investors face difficulties arising in the sphere of tax, customs and labor legislation, as well as in the sphere of licensing and land relations.

 

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