Lack of political will threatens Kazakhstan’s gas sector reforms
Kazakhstan’s gas sector has vast potential as recoverable gas reserves in Kazakhstan are approved at the level of 3.9 trillion cubic meters, about 1.7% of the world’s gas reserves. A significant part of natural gas resources is concentrated in western regions of Kazakhstan, whereas the biggest and most promising export market for Kazakh natural gas is in the east — China.
In April 2020, the Government of the Republic of Kazakhstan adopted a number of measures to support taxpayers, including the exemption of some business entities from taxes and social payments from the wage-fund.
The enactment of the new rules on issue of accompanying notes was postponed for the fourth time.
This Law determines legal conditions of public-private partnership, ways of its implementation, and regulates social relations arising in the process of preparation and implementation of public-private partnership projects, conclusion, performance and termination of public-private partnership agreements.
This chapter examines public–private partnership (PPP) development in Kazakhstan from 1991 to the time of writing and reviews evolution of the PPP legislation and approaches used to create a PPP-enabling environment in order to draw lessons for the country’s future policy.
Capital market in Kazakhstan – is there a positive outlook?
The recent outbreak of COVID-19 pandemia has not created any new issues for Kazakhstan’s economy, it has just uncovered the existing ones. Long before the pandemia it was already clear to the Kazakh Government that “oil era” is coming to an end and new instruments shall be developed to attract money to the country. As a response to the challenging reality, the Kazakh Government has to apply non - resource based means to boost the economy. Creating a strong capital market that will attract regional and foreign investors to Kazakhstan is one of such non - resource based measures.
By 2016 Kazakhstan established what was considered a solid legal and institutional basis for public-private partnership (PPP) projects that led to a sharp increase in PPP formation with 15 PPP agreements signed in 2016, 161 in 2017, 292 in 2018 and 294 in 2019. In addition to being the leader in Central Asia in terms of establishing a PPP legal and institutional framework and the number of PPP Agreements executed, Kazakhstan has also been successful in pursuing the 66 km Big Almaty Ring Road benchmark concession project (a toll road around the city of Almaty), also known as BAKAD. This project finally reached its financial closure on 7 August 2020, making it the largest PPP project in Central Asia.
The 66 km Big Almaty Ring Motor Road concession project (a toll road around the city of Almaty), also known as BAKAD, fi nally reached a financial close on the 7th August 2020, making it the largest public–private partnership (PPP) project in Central Asia. The project is supported by the European Bank for Reconstruction and Development, the Bank of China, PGGM, Eurasian Development Bank and the IsDB.
There is no special law in the Republic of Kazakhstan that regulates the protection of trade secrets. Moreover, the legislation of the Republic of Kazakhstan does not provide for an exhaustive definition of the term 'trade secret'. The provisions on trade secrets are differentiated through various regulatory legal acts, which causes some inconvenience in determining how far the definition of trade secrets can extend.
Naphtyzinum: ‘Soviet’ Trademark or Public Interest?
In Kazakhstan’s judicial practice there are growing disputes related to the early termination of legal protection for trademarks that have come into common use for the designation of goods of a certain type by virtue of Article 6.1.1 of the Law of the Republic of Kazakhstan 'On Trademarks, Service Marks and Appellations of Origin of Goods' No. 456-I, dated 26 June 1999 (hereinafter - the 'Trademark Law').