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  • Kazakhstan guarantees investors 100% protection of 5 trillion tenge

    Daniyar Sabirbayev, the director of Anti-Corruption Policy Department, claims that Agency for Civil Service and Anti-Corruption (ACSAC) supports 126 agreements with local and foreign investors for the total amount that exceeds five trillion tenge.

    "Of the 126 projects, 54 projects, i.e. 43% , are being executed with foreign companies. We consult them to prevent corruption offenses so that no part of this money sponsors corruption."

    "We ask entrepreneurs to abstain 100% from corruption schemes in their activities, and in return, we provide a 100% guarantee that they will be protected from corruption risks,” Daniyar Sabirbayev noted at ACSAC briefing.

    According to his speech, 59 representatives of business communities addressed the regional front-offices. 40 requests (which accounts for 68% of requests) were promptly reviewed and resolved.

    "In Kostanay region, the project office defended the rights of Zarya JSC,when the akimat of Mikhailovsky rural district illegally terminated the memorandum on management and use of pastures. The department of the agency in Kostanay region conducted an official investigation, the akimat was disciplined and fired," Sabirbayev commented.

    In Almaty, VTB Travel LLC applied to the project office requesting the support in the problem with the migration policeas an error occurred when completing the questionnaire by the invited foreign engineers. After the meeting of the management of Almaty agency and the migration police, the issue was positively resolved.

    Sabirbayev notes that most of the requests relate to disputes between entrepreneurs themselves.

    In the first half of the year, the investment ombudsman reviewed 30 requests, nine of them of which pertain to issues that arose between business entities. These requestsare often unresolved, as investment and business ombudsmen do not have the right to interfere in disputes between entrepreneurs under the current legislation.

    They act only in cases when the state agency illegally interferes in business or refuses in state services. Together with Atameken Organization, it is planned to introduce a mediation institute to resolve such disputes through ethics advice.

    "We believe that this institute will be implemented before the end of this year," Sabirbayev concluded.

    On July 20, Alik Shpekbayev, chairman of the Agency for Civil Service and Anti-Corruption of the Republic of Kazakhstan, warned officials against interference in business projects.
    Information source: "В АДГСПК гарантировали инвесторам 100-процентную защиту 5 трлн тенге"
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