USAID improves the investment legislation in Kazakhstan
Astana, Kazakhstan, February 2, 2024 – Today, the United States Agency for International Development (USAID) hosted a joint Investment Forum and Chairman of the Supreme Court Mergaliyev, and US Ambassador to Kazakhstan Daniel Rosenblum, aimed to explore proposals for enhancements to Kazakhstan’s investment legislation and to highlight important achievement supported by the USAID Kazakhstan Rule of Law Program, implemented by the American Bar Association Rule of Law Initiative (ABA ROLI). The program partnered with the Supreme Court of the Republic of Kazakhstan and the National Company “KAZAKH INVEST” under the Ministry of Foreign Affairs of the Republic of Kazakhstan.
The Supreme Court Chairman inaugurated the Investment Forum, stressing the need for administrative justice and investment jurisdiction reform to attract investors and improve the country’s investment appeal. Over 50 participants, representing the government, judiciary, business community, investors, and local and international experts in Kazakhstan, actively engaged in the Investment Forum. Discussions centered on investment jurisdiction, tax issues, and investment disputes in international arbitrations involving Kazakhstan. The forum allowed investors to express concerns, gain insights, and collaborate on recommendations to improve investment dispute resolution.
Within the Investment Forum, participants delved into a range of issues related to the investment climate. Ambassador Rosenblume noted, “Today’s Investment Forum organized by the American Bar Association is yet another example of the long-term and very strong U.S.-Kazakhstan partnership in support of the rule of law, as it relates to economic policy, foreign investment, and the business climate. I am pleased that this forum will be repeated next year as well, providing an ongoing platform for discussions on issues that are important to foreign investors. We also mark the conclusion of the USAID Rule of Law Program in Kazakhstan, which over the past four years has helped improve the legal environment for protecting investments and strengthen the professional development and independence of Kazakhstan’s judiciary. We are grateful to all the professionals who have taken part in the program’s activities..”
In the closing session, the ABA ROLI office in Kazakhstan and experts highlighted key achievements, including the adoption of several normative Supreme Court rulings on arbitration and tax disputes. Representatives from the judiciary, government agencies, and investors commended USAID and ABA ROLI for their significant contributions to improving the investment legal climate, enhancing the judiciary’s professionalism and independence. By developing effective legislation to safeguard investors’ rights during legal disputes with government agencies and improving the investment dispute resolution process, USAID actively contributes to the stability and confidence in Kazakhstan’s investment climate.
USAID is the world’s leading international development agency and a catalyst for achieving development results. For more information about USAID ‘s activities in Central Asia, visit Mission website and Facebook page .
ABA ROLI works with partners in 60 countries to build sustainable institutions and societies that promote equity, economic opportunity, and human dignity.