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Kazakhstan joins OECD Declaration on International Investment

21 June 2017 20:44 2316

ASTANA. KAZINFORM Today, Kazakhstan has become the 48th country that joined the Declaration on International Investment and Multinational Enterprises of the Organisation for Economic Co-operation and Development, and an associated participant of the OECD Investment Committee, Kazinform reports.

According to the KAZAKH INVEST national company press service, joining the Declaration and participating in the OECD Investment Committee is testimony to the fact that Kazakhstan strives to ensure a fair and transparent environment for international investment and ready to encourage investments stimulating positive contribution to economic and social progress, as well as environment protection.

By joining the Declaration, Kazakhstan will participate in the OECD Investment Committee work, which is the leading government forum for cooperation on international investment issues, and will actively discuss its policies with the OECD countries.

OECD and Kazakhstan will continue to work together for development and implementation of effective policies aimed at improving the life in Kazakhstan.

For this period, two reviews of Kazakhstan's investment policy have been carried out jointly with OECD experts, and a lot has been done to improve the investment climate in accordance with OECD standards.

Owing to the OECD recommendations, the list of the countries, whose citizens are staying in Kazakhstan in a visa-free regime, has been expanded since January 1 this year. The number is 61 countries, and this list includes all OECD countries. Moreover, the conditions for attracting immigrant laborers have been improved, and the Specialized Judicial Board for Investment Disputes under the Supreme Court has been established.

The OECD Investment Committee membership will enable Kazakhstan to consistently adopt the advanced standards of the OECD countries, attract large investors and multinational companies, and will make a positive impact on the rankings and investment opportunities of the country.

This is also indicative of the high level of the business environment, competition and protection of investors' rights.

 

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