The Council of Foreign Investors was established by Decree of the President of the Republic of Kazakhstan dated June 30, 1998 No. 3985 in accordance with subparagraph 20) of Article 44 of the Constitution of the Republic of Kazakhstan.
The Council of Foreign Investors (hereinafter - the Council) is a consultative and advisory body under the President of the Republic of Kazakhstan.
The main task of the Council is to develop recommendations and proposals on the following issues:
The Council Chairman is the President of the Republic of Kazakhstan.
Permanent members of the Council are the following: the Prime Minister of the Republic of Kazakhstan, the Chairman of the National Bank of the Republic of Kazakhstan, the First Deputy Prime Minister of the Republic of Kazakhstan, the Deputy Prime Ministers of the Republic of Kazakhstan, the Deputy Head of the Presidential Administration of the Republic of Kazakhstan or the Assistant to the President of the Republic of Kazakhstan in charge of socio-economic issues, Minister of Foreign Affairs of the Republic of Kazakhstan, Minister for Investment and Development of the Republic of Kazakhstan, Minister of Finance Of the Republic of Kazakhstan, the Minister of National Economy of the Republic of Kazakhstan and the First Head of the working body of the Council.
To solve systemic problems related to the improvement of the investment climate, the Council for the Improvement of the Investment Climate (hereinafter referred to as the Council), chaired by the Prime Minister of the Republic of Kazakhstan, is active. The Council was established by the Decree of the Government of the Republic of Kazakhstan dated March 1, 2012 No. 275.
According to the provision on the Council, its main objectives are to assist in attracting and efficiently using domestic and foreign investments, as well as supporting investors in resolving the problematic issues they face in their work in Kazakhstan.
Meetings of the Council are held as necessary, but not less than twice a year, at a time determined by the chairman of the Council.
Representatives of interested state bodies of the Republic of Kazakhstan, as well as representatives of domestic and foreign companies that are not its members may be invited to meetings of the Council.
The working body of the Council is the Ministry of Investments and Development of the Republic of Kazakhstan, which provides organizational and technical support for the work of the Council, including preparing proposals for the agenda of the meeting of the Council, necessary documents and materials.
The Investment Ombudsman Institute was established in 2014 to improve the country's investment climate. The main task is to protect the rights and legitimate interests of investors on issues arising in the course of investment activities, and to make recommendations for their resolution in extrajudicial and out-of-court procedures.
Investment Ombudsman Functions
1. In order to ensure and protect the rights and legitimate interests of investors, the investment ombudsman:
2. The recommendations of the investment ombudsman are drawn up in the form of letters and minutes of meetings with the investment ombudsman.
3. The Investment Ombudsman conducts consultations with government bodies and organizations and protocol meetings to resolve issues of investors arising out of court and pre-trial proceedings.
4. The Investment Ombudsman, if the issues of investors cannot be resolved in accordance with the legislation of the Republic of Kazakhstan, develops and makes recommendations for improving the legislation of the Republic of Kazakhstan to the Government of the Republic of Kazakhstan.
Rights and Obligations of the Investment Ombudsman1. The Investment Ombudsman has the right to:
The activity of the investment ombudsman is provided by the authorized investment body. Position Investment Ombudsman is approved by the Government of the Republic of Kazakhstan.