Tokayev Signs Off on New Business Rules for Kazakhstan

Kazakhstan’s president Kassym-Jomart Tokayev has signed a law on the creation of new rules for the country’s business sectors.

The move is designed not only to streamline forms of state control and supervision over business, but also to improve the general conditions for entrepreneurship in the country. “Our goal is to create more favorable conditions for the development of business in the country,” the Akorda press service said, outlining some key points of the new law. At the sectoral level, the amendments lay out mechanisms that will facilitate rapid response, investigations and preventive control procedures without any physical presence at inspection sites.

The changes apply to various business areas:

– Fisheries: it will now be possible to open aquaculture facilities on promising land plots intended for agriculture;

– Plant quarantine: the administrative burden on the movement of regulated products is significantly reduced with the cancellation of quarantine certificates;

– Industry: manufacturing enterprises will receive support in the form of supply of domestic raw materials;

– Oil & gas industry: requirements have been clarified regarding documents confirming the origin of refined oil products;

– Financial markets: procedures for business interaction with banks will become more simplified; and,

– Registration of legal entities: the processes of registration and re-registration of legal entities and their branches are being converted to electronic format, which will make the receipt of state services more accessible and transparent.

The purpose of these changes is not only to facilitate the process of doing business, but also to balance the interests of consumers, entrepreneurs and the state. This direction is part of a strategy to promote entrepreneurship in Kazakhstan — which confirms the desire to improve the business environment and stimulate economic growth outside of the extractive industries.


Times of Central Asia