Interaction with investors

The Council of Foreign Investors was established by Decree of the President of the Republic of Kazakhstan dated June 30, 1998 No. 3985 in accordance with subparagraph 20) of Article 44 of the Constitution of the Republic of Kazakhstan.

The Council of Foreign Investors (hereinafter - the Council) is a consultative and advisory body under the President of the Republic of Kazakhstan.

The main task of the Council is to develop recommendations and proposals on the following issues:

• determine the main directions of the investment policy of the Republic of Kazakhstan;
• improving the investment climate in the Republic of Kazakhstan;
• improving the regulatory framework of the Republic of Kazakhstan on investments;
• assistance of foreign companies to diversify the economy, industrialization of the industrial sector, development of small and medium business of the Republic of Kazakhstan;
• integration of the economy of the Republic of Kazakhstan into the world economic processes;
• strategies to attract foreign investment in the economy of the Republic of Kazakhstan;
• implementation of major investment programs and projects of the Republic of Kazakhstan of international importance.

The Council Chairman is the President of the Republic of Kazakhstan.

Permanent members of the Council are the following: the Prime Minister of the Republic of Kazakhstan, the Chairman of the National Bank of the Republic of Kazakhstan, the First Deputy Prime Minister of the Republic of Kazakhstan, the Deputy Prime Ministers of the Republic of Kazakhstan, the Deputy Head of the Presidential Administration of the Republic of Kazakhstan or the Assistant to the President of the Republic of Kazakhstan in charge of socio-economic issues, Minister of Foreign Affairs of the Republic of Kazakhstan, Minister for Investment and Development of the Republic of Kazakhstan, Minister of Finance Of the Republic of Kazakhstan, the Minister of National Economy of the Republic of Kazakhstan and the First Head of the working body of the Council.

To solve systemic problems related to the improvement of the investment climate, the Council for the Improvement of the Investment Climate (hereinafter referred to as the Council), chaired by the Prime Minister of the Republic of Kazakhstan, is active. The Council was established by the Decree of the Government of the Republic of Kazakhstan dated March 1, 2012 No. 275.

According to the provision on the Council, its main objectives are to assist in attracting and efficiently using domestic and foreign investments, as well as supporting investors in resolving the problematic issues they face in their work in Kazakhstan.

Meetings of the Council are held as necessary, but not less than twice a year, at a time determined by the chairman of the Council.

Representatives of interested state bodies of the Republic of Kazakhstan, as well as representatives of domestic and foreign companies that are not its members may be invited to meetings of the Council.

The working body of the Council is the Ministry of Investments and Development of the Republic of Kazakhstan, which provides organizational and technical support for the work of the Council, including preparing proposals for the agenda of the meeting of the Council, necessary documents and materials.

The Investment Ombudsman Institute was established in 2014 to improve the country's investment climate. The main task is to protect the rights and legitimate interests of investors on issues arising in the course of investment activities, and to make recommendations for their resolution in extrajudicial and out-of-court procedures.

  Investment Ombudsman

1. An investment ombudsman is an official appointed (determined by) the Government of the Republic of Kazakhstan, who is charged with assisting in the protection of the rights and legitimate interests of investors.
2. In its activities, the investment ombudsman is guided by the Constitution of the Republic of Kazakhstan, the laws of the Republic of Kazakhstan, acts of the President of the Republic of Kazakhstan and the Government of the Republic of Kazakhstan, other normative legal acts of the Republic of Kazakhstan.

  Investment Ombudsman Functions

1. In order to ensure and protect the rights and legitimate interests of investors, the investment ombudsman:

• considers investors' appeals on issues arising in the course of investment activities in the Republic of Kazakhstan, and makes recommendations for their resolution, including interacting with government bodies;
• assists investors in resolving emerging issues out of court and out of court;
• develops and makes recommendations to the Government of the Republic of Kazakhstan on improving the legislation of the Republic of Kazakhstan on investment activities.

2. The recommendations of the investment ombudsman are drawn up in the form of letters and minutes of meetings with the investment ombudsman.
3. The Investment Ombudsman conducts consultations with government bodies and organizations and protocol meetings to resolve issues of investors arising out of court and pre-trial proceedings.
4. The Investment Ombudsman, if the issues of investors cannot be resolved in accordance with the legislation of the Republic of Kazakhstan, develops and makes recommendations for improving the legislation of the Republic of Kazakhstan to the Government of the Republic of Kazakhstan.

  Rights and Obligations of the Investment Ombudsman

• request and receive from state bodies and organizations, regardless of the form of ownership, the information necessary for the consideration of applications, with the exception of information constituting a commercial secret;
• for immediate admission by managers and other officials of government bodies and organizations;
• to hear the heads of interested state bodies and organizations or their deputies on the appeals of investors;
• other rights necessary for the implementation of functions assigned to the investment ombudsman.

• take measures to ensure the observance and protection of the rights and legitimate interests of investors;
• consider, in the order and terms established by the legislation of the Republic of Kazakhstan, investors' appeals regarding actions (inaction) of officials, decisions of state bodies, other organizations and their officials, as well as take necessary measures on them;
• be objective and impartial when considering appeals;
• not to perform any actions that impede the realization of the rights of the investor who applied for protection.

The activity of the investment ombudsman is provided by the authorized investment body. Position Investment Ombudsman is approved by the Government of the Republic of Kazakhstan.