OECD Investment Policy Reviews: Kazakhstan 2012
This review assesses Kazakhstan's ability to comply with the principles of liberalisation, transparency and non-discrimination and to bring its investment policy closer to recognised international standards such as the OECD Declaration on International Investment and Multinational Enterprises. Based on the OECD Policy Framework for Investment, the Review considers the interaction and coherence of investment policy with other areas such as investment facilitation, trade and competition policy as well as responsible business conduct practices critical for enhancing the investment climate.
Foreign Direct Investment Regime
Kazakhstan has no general screening mechanism for foreign investment and few sectoral restrictions. The Constitution of Kazakhstan provides the same rights and obligations to foreign entities and individuals as to Kazakhstani citizens, unless specified elsewhere in legislation. In terms of the typical statutory restrictions on FDI found in other emerging economies, Kazakhstan is relatively open to foreign investment. Foreigners may invest in any sector, with equity limits in only a handful of sectors. But at the same time, a number of measures introduced in the past decade to diversify the economy and create greater local value added from foreign investments, particularly in the subsoil sector, have increased operational restrictions on foreign investment and added greater uncertainty for investors.