Kazakhstan

President Nazarbayev announces business friendly measures


Published

President Nursultan Nazarbayev has announced a moratorium on audits of small businesses until 1st January 2015 along with moves to streamline legislation and regulations. The president intends to work with the National Chamber of Entrepreneurs to identify relevant legislation described as ‘inefficient, cumbersome and not relevant anymore’.

A deadline of 1st June this year had been given to establish a new draft business code and the country intends to adopt the OECD principles of regulatory impact as well as a business ombudsman designed to protect the rights of entrepreneurs, according to an article on the Kazakh TV website.

The statement concerning a business moratorium as published on the presidential website is as follows:

“Statement of the President of Kazakhstan on Drastic Measures to Improve the Conditions for Development of Entrepreneurship in the Republic of Kazakhstan

27.02.2014

Today the President of Kazakhstan unveiled the signing of a Decree on drastic measures to improve the conditions for development of entrepreneurial activity.

“According to the Decree, starting from April 2 and until January 1, 2015, I declare a moratorium on inspections of small and medium-sized businesses. I charged the Government to take a number of concrete measures aimed at further improvement of the conditions for doing business by entrepreneurs of Kazakhstan,” the head of state stated.

Nursultan Nazarbayev informed on the measures which would be taken in order to improve the state control.

“The practice of scheduled inspections will be cancelled. The state bodies should elaborate unbiased system of inspections determination that meets international standards and is subject to agreement with the Administration of the President. According to this system, since January 1, 2015, those entrepreneurs who have a high probability of violations will be subject to inspection. If an entrepreneur fulfils all legal requirements, inspection authorities should not come to them at all,” the President of Kazakhstan said.

The head of state emphasised that the format of inspections will be radically revised in the near future. As a result, the total number of requirements will be reduced by more than 30 percent. The Government should revise all inspection regulations for that.”

More detailed briefing on the politics and risk of doing business in this country is available to clients and subscribers. If you would like to know more then please contact enquiries@tradebridgeconsultants.com