Нийтлэл

The importance of the so-called natural monopolies in Kazakhstan can be seen in the fact that some of Kazakhstan’s largest and most powerful corporate empires, such as the KEGOC (national transmission grid operator) and KTZ (national railway company), are officially subject to natural monopoly regulation.

Agriculture is one of the most attractive sectors of Kazakhstan’s economy. Kazakhstan has approximately 24 million hectares of arable land and 188 million hectares of pasture.

This Law determines legal conditions of concession, types of state support of concessionaire and regulates social relations arising during conclusion, execution and termination of concession agreements.

Although the Kazakhstan securities market is the most developed in Central Asia, its development has been slow compared to the country’s banking sector.

The Law on Amendments Intended to Improve Business Conditions(the “Business Improvement Law”) came into effect on 12 March 2017, except certain provisions.
The purpose of the Business Improvement Law is to further improve the investment climate in line with the general policy of the country to support local entrepreneurs and foreign investors.

I. Why renewable energy?

Renewable energy development has recently become hot topic in Kazakhstan that is actively being discussed among market existing and potential participants, relevant state bodies including the Ministry of Energy of the Republic of Kazakhstan (the “MoE”), international development institutions and other stakeholders.

Kazakhstan has high ambitions in China’s Belt and Road initiative (BRI) as it is geographically an ideal junction between China and the west. There may, however, be some roadblocks for the BRI’s projects in Kazakhstan. It is therefore important to examine past experiences in order to be able to predict what legal challenges may await Chinese investors when they engage in business with Kazakhstan.

On 29 July 2018 several Federals Laws were signed off amending the Federal Law 'On Currency Regulation and Currency Control' as follows:

Modeled on the Dubai International Financial Centre, the Astana International Financial Centre (AIFC) was officially launched on the 5th July this year, established with the aim of bridging the gap between the world’s major financial centers and a regional gateway for capital and investments.

From 2000, global policy, documentation and software on international taxation have been developed and many countries have joined to the implementation of Base Erosion and Profit Shifting (BEPS) Package. In order to effective implementation, Inclusive framework of four minimum standards of BEPS package and the Global Forum on Transparency and Exchange of Information for Tax Purposes, a multilateral framework is implemented. Over 100 countries are members of these international taxation initiatives which means many countries are proactive on international taxation matters and being a part of it.

Kazakhstan authorities have come to recognize that they cannot fi nance the necessary investments in public infrastructure from current budgets and that a major part of future fi nancing must fl ow from the private sector.

New Law on National Payment System, dated 31 May 2017, shall become effective from 1 January 2018. The importance of the new law is an integrated payment system launch between the Central Bank, commercial banks, legal entities, other financial institutions and individual customers.