The 2-Minute Rule for www.transparencykazakhstan.org
The 2-Minute Rule for www.transparencykazakhstan.org
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Functions to business contracts, which includes foreign investors, can search for dispute settlement in Kazakhstan’s courts or Worldwide arbitration, and courts nominally implement arbitration clauses in contracts. On the other hand, Submit is aware of at the least a single case when The federal government is alleged to possess refused to honor a totally litigated Global arbitral final decision.
Сбор и анализ информации о формах коррупции в Казахстане и в других странах;
Intercontinental fiscal institutions look at Kazakhstan to become a relatively eye-catching vacation spot for his or her functions, and many Global companies have founded regional headquarters during the region.
The law eases bureaucratic requirements for bankruptcy filings, gives creditors a greater say in continuing functions, introduces a deadline for adopting rehabilitation or reorganization strategies, and adds court docket supervision prerequisites.
Implementation of such requirements, nonetheless, is poor because of the deficiency of a unified common and inadequate regulatory oversight.
Overseas firms contemplate this to generally be coercion to localize output and differential treatment method of foreign and domestically produced products. In 2024, the government introduced further more reductions in expense subsidies for imported agricultural machines. International producers seen this final decision as out of compliance Together with the WTO primary principle of non-discriminatory treatment method.
The GOK has undertaken actions to improve steadiness and prudent asset high quality management in the banking sector, which includes by way of money injections, Increased oversight, and expanded regulatory authorities. The ratio of non-undertaking financial loans overdue by much more than ninety times to banking property was two.
The federal government encourages foreign investors to utilize the capacities of your AIFC arbitration Centre along with the AIFC courtroom much more actively.
Funds marketplaces stay underdeveloped and illiquid, with compact equity and financial debt markets dominated by SOEs and missing retail buyers. Most domestic borrowers attain credit score from Kazakh banks, While international buyers usually come across desire prices and collateral prerequisites onerous, and it is actually often cheaper and simpler for overseas buyers to employ retained earnings or borrow from their house nation.
The solution has to be made in Kazakhstan, and the organization bidding need to be on the sign up of trustworthy producers.
Kazakhstan joined the Intercontinental Labor Firm (ILO) in 1993 and it click here has ratified 25 outside of 189 ILO conventions. The Structure and Labor Code warranty essential employees’ legal rights, together with occupational protection and wellness, the best to arrange, and the proper to strike. In February 2023, The federal government enacted amendments to labor-similar legislation to relieve the necessities for strikes.
Overseas investors may well be involved in authorities and quasi-authorities procurement tenders if they've got founded manufacturing facilities in Kazakhstan and so are acknowledged being a pre-competent bidder.
The Entrepreneurial Code permits the point out to nationalize assets in emergency instances but fails to provide apparent standards for expropriation or to involve prompt and suitable payment at honest industry worth.
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