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OECD Investment Policy Reviews: Kazakhstan 2012

image of 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.

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Kazakhstan's Policy Framework for Investment

Based on the OECD Policy Framework for Investment, which helps to evaluate various policies relevant for a country’s investment climate, Kazakhstan has deployed significant efforts to improve its investment environment. Recent initiatives have focused on reducing administrative burdens for small and medium-sized enterprises, including simplifying registration procedures and reducing minimum capital requirements. But performance is not yet satisfactory in areas such as public consultation. Corruption also remains a serious challenge, and investors still complain about inadequate enforcement of intellectual property rights protection although an adequate legal framework is now in place. Investment promotion and facilitation are a priority for the government but could be further streamlined. Kazakhstan’s pending accession to the WTO will be an important step in enhancing the transparency and predictability of the country’s trade policy. The entry into force of the Customs Union between Belarus, Kazakhstan and the Russian Federation means gradual harmonisation in the business environment in the CU area which might lead to some reallocation of economic activities among the member countries.

English

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