In 2020, Kazakhstan faces a hurricane in the form of the impact consequences of the COVID-19 pandemic and the plunge in the price of oil to a 20-year low, including, among others, decreased economic activities, devaluation of the local currency (tenge), reduced foreign direct investments in risky markets and shrinking state budgets.
The firm rises in the rankings released by Legal 500 and takes positions in eight jurisdictions – Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan.
Following the release of Chambers Global 2020, one of the most reputable international legal directories identifying best legal experts across the globe, GRATA International solidifies its position as one of the leading law firms in Eastern Europe and Central Asia by entering rankings in six countries.
Kazakhstan adopted relevant legislation for domestic Islamic banking transaction such as the governed Kazakh law more than ten years ago and established the Astana International Financial Center (AIFC) based on the Dubai International Financial Center’s model three years ago, Islamic finance is still in the early stages of its development and Islamic products are rarely used.
Kazakhstan, at least on the surface, seems to have a strong political will to attract investments in renewable energy projects as demonstrated by its official general policy.
Chambers&Partners has recently released its 2020 Asia-Pacific Guide, in which GRATA International has confirmed its status as one of the leading legal experts in Central Asia and Caspian region, with rankings in Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan.
GRATA International tops asialaw Profiles 2020 Kazakhstan rankings
Following in-depth research, asialaw Profiles have selected the best law firms and experts in 25 Asian jurisdictions: from Australia to Vietnam.
LAWASIA held the 32nd Conference: Harmonisation through Synergy
On November 5-8, 2019, the LAWASIA Conference in Hong Kong was held.
PPP Boom in Kazakhstan
As of 1 October 2019, 610 public-private partnerships agreements worth 1.5 billion tenge (about 3.8 million US dollars) have been executed in Kazakhstan. While PPP remains one of the areas of great interest to both Kazakhstani state authorities and prospective investors, it seems that the Government of Kazakhstan has decided to change its policy in relation to PPPs by shifting focus from quantity to quality of PPP projects to be implemented in Kazakhstan.
There is no doubt that Kazakhstan needs new economic drivers to facilitate the launch of innovative new businesses, to disrupt conventional industries and to transform intellectual capital into innovative start-ups.