For Immediate Release
Press Release
Astana, Kazakhstan, May 26, 2023 – Today, the United States Agency for International Development (USAID), in collaboration with the American Bar Association Rule of Law Initiative (ABA ROLI), held an investment roundtable in Kazakhstan. The event aimed to discuss proposals for amendments and improvements to Kazakhstan's investment legislation through the Kazakhstan Rule of Law Program funded by USAID. The program operates in partnership 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 roundtable commenced with opening remarks from Tukiev Aslan, the Chairman of the Administrative Collegium of the Supreme Court, and Dzhumagalieva Larisa, the Deputy Chairman of the Committee on Investments under the Ministry of Foreign Affairs of the Republic of Kazakhstan. Both emphasized the significance of enhancing court practices to foster a favorable investment climate in the country.
More than 60 representatives offline and 100 representatives online from the government, judiciary, business community, investors, and local and international experts in Kazakhstan actively participated in the roundtable. The discussions focused on investment jurisdiction and violations of antitrust legislation during investigations against investors. The forum provided an opportunity for investors and business representatives to voice their concerns regarding the resolution process of investment disputes, seek feedback from judges and government representatives, and collectively develop recommendations to enhance dispute resolution practices.
Throughout the roundtable, participants deliberated on recommendations put forth by ABA ROLI experts. These recommendations aimed to assist investors and courts in improving investment legislation by providing legal guarantees in court proceedings. Notably, it was proposed that investor disputes should be considered in the local court of Astana and the Supreme Court. The discussions also aimed to clarify the definitions of "investor," "investment activity," and "investment jurisdiction," while highlighting strategies for safeguarding investors' rights in investment and business disputes within the judicial system. Judges received practical methodological guidelines for resolving administrative and antitrust cases.
Aigul Kenzhebayeva, Managing Partner for Kazakhstan and Central Asia at Dentons, emphasized the need for clarity in determining departmental jurisdiction for disputes involving investors. She stated, "The lack of this clarity often leads to missed appeal deadlines, inappropriate protection methods, claim returns or rejections. Clarity in determining the departmental jurisdiction of disputes involving investors is not only a guarantee of the right to judicial protection but also a factor contributing to the investment attractiveness of Kazakhstan."
By developing effective legislation to protect investors' rights during legal disputes with government agencies and improving the investment dispute resolution process, USAID is actively contributing to the stability and confidence in Kazakhstan's investment climate.
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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.
