Kazakhstan is the largest economy in Central Asia and home to more than 18 million people. As a country rich in coal, oil, natural gas and uranium, Kazakhstan’s economic focus remains firmly on its industrial sector and the extraction and processing of its natural resources.
Legal Alert: Mongolia has shifted to public emergency readiness regime
The Government of Mongolia has decided to shift from Enhanced Readiness Regime to Public Emergency Readiness Regime nationwide for five days from 12 November to 17 November 2020 under the Decree No178 dated11 November, 2020 after a local citizen tested positive for coronavirus.
The law of the Republic of Kazakhstan on Public-Private Partnership
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.
Public–Private Partnerships in Kazakhstan: Evolution of the Government Policy and Reality of PPP Deployment
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.
Obstacles to Public-Private Partnership Development in Kazakhstan
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.
Is Kazakhstan finally a rising star for public–private partnerships?
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.
The Kazakh gas market continues to be organized on the basis of central command and control, and quasi-monopolistic principles, with KazMunayGas (KMG) as the state owned and vertically integrated oil and gas company dominating gas production, supply and transportation through its direct and indirect subsidiaries.
Anti-crisis Economic plan
On April 24, 2020 Prime Minister of Georgia – Giorgi Gakharia, presented Anti-Crisis Economic plan. Prime Minister reviewed social programs and economic reliefs that the government of Georgia had already implemented. Prime Minister presented the following anti-crisis plan:
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 brochure provides you with the comprehensive information about the main forms of doing business in Kazakhstan, including a detailed comparison table of such forms, information on the tax structure, bankruptcy, PPP and frequently asked questions for starting and doing business in Kazakhstan.
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.