ASTANA, Kazakhstan, Might 10. President of
Kazakhstan Kassym-Jomart Tokayev has signed a decree “On measures
to financial liberalization,” Pattern reviews by way of Akorda.
The decree promotes competitors, reduces governmental
involvement within the economic system, and lowers firm prices to advertise
entrepreneurship freedom, per the President of Kazakhstan’s
February 7, 2024 directive.
Key provisions embrace the creation of the Nationwide Workplace for
Privatization below Kazakhstan’s Company for Safety and
Growth of Competitors, which defines and compiles an inventory of
state belongings for privatization.
Moreover, the article outlines steps to enhance the autonomy,
high quality, and governance of Samruk Kazyna Wealth Fund and its
subsidiaries, in addition to streamline their procurement
procedures.
Moreover, particular measures are outlined to reinforce
competitors in commodity markets.
Proposed measures embrace regulatory reform and enterprise
liberalization. Technical circumstances and utility connections will be
simplified and digitized, as can buyer entry to
quasi-governmental group providers.
Moreover, it directs the usage of initiatives that adhere to
superior worldwide development requirements with out requiring
compliance with Kazakhstani documentation requirements.
One other provision of the decree protects enterprise rights and
reputable pursuits. These steps embrace decriminalizing financial
offenses and harmonizing authorities restrictions with
prosecutors.
Implementing the decree will speed up the numerous
discount of the general public sector’s share within the economic system, thereby
creating extra financial alternatives for personal
entrepreneurship.
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