Since 1991, Kazakhstan, Central Asia’s largest economy and oil producer, has had to rely on the deteriorating infrastructure it inherited from the Soviet Union. As a result, nearly every piece of public infrastructure (e.g., roads, hospitals, power plants, kindergartens, sewerage) in Kazakhstan requires a different degree of upgrading or expansion. It is expected that proper PPPs and project finance deals will finally take off in Kazakhstan in the near future, firstly because proper legislation on PPPs has been put in place in 2015 and, secondly, after decades of neglect, the government of Kazakhstan has finally not only declared, but seems to confirm its readiness to improve the investment climate and to attract private investments through PPPs (including into the housing and utilities sector) and decided to invest at least part of the wealth from commodity exports in long-postponed infrastructure projects.
Notice
This is an unofficial English translation of the Law of the Republic of Kazakhstan On Public-Private Partnerships No. 379-V 3PK dated 31 October 2015 (the PPP Law), prepared by GRATA International Law Firm. We are in the process of reviewing and improving this translation. We kindly request your comments and suggestions. Please send them in writing to finance_securities@gratanet.com.
For more information on current legal framework in Kazakhstan please refer to our legal analysis on: https://gratanet.com/up_files/PPP_Kazakhstan.pdf
"PPP should be the primary mechanism for the development of infrastructure, including in social development." The President of Kazakhstan Nursultan Nazarbayev
