Nur-Sultan, Kazakhstan, April 15, 2022 – Today, the United States Agency for International Development (USAID) through its Kazakhstan Rule of Law program organized an investment roundtable to discuss proposals for amendments and improvements to Kazakhstan’s investment legislation. The program is implemented by the American Bar Association Rule of Law Initiative (ABA ROLI), in cooperation with both the Supreme Court of the Republic of Kazakhstan and the National Company "KAZAKH INVEST" under the Ministry of Foreign Affairs of the Republic of Kazakhstan.
More than 50 representatives from the government, judiciary, business community, investors, and international and local experts discussed international investment jurisdiction, proposals, and suggestions in clarifying the legislative terms of "investor" and "investment activity." These recommendations will enhance investment legislation and provide legal guarantees in court proceedings such as investor disputes in the local courts and in the Supreme Court of the Republic of Kazakhstan.
“Special attention should be paid to the resolution of disputes with investors. In particular, the practical experience of the U.S. state and federal courts shows that the tools for successfully adjudicating complex commercial and financial disputes, including investor disputes, provide for the creation of a specialized division for commercial disputes within the judicial system, with judges, court staff training, and resources,” said U.S. expert Judge Elizabeth S. Stong.
Roundtable participants increased their understanding of how to defend their rights in investment and business disputes in the courts. They also developed recommendations for the clarification and addition of specific terms to be included into the national legislation obligatory parameters, such as the duration of investment activity and the volume of investments. The event promotes legal guarantees during investment-dispute resolution and will strengthen investor confidence in the court system. By developing effective legislation to protect investors’ rights during disputes and improving the investment-dispute resolution process, USAID is contributing to the stability of and confidence in Kazakhstan’s investment climate.
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