AIFC and the Investor Protection Committee of the Prosecutor General’s Office of the Republic of Kazakhstan signed a Memorandum of Understanding
On 3 July, the Astana International Financial Centre (AIFC) and the Investor Protection Committee of the Prosecutor General’s Office of the Republic of Kazakhstan signed a Memorandum of Understanding aimed at strengthening cooperation in the field of investor protection, enhancing the investment climate, and reinforcing mechanisms for engagement with investors operating within the jurisdiction of the Republic of Kazakhstan and the AIFC.
The Memorandum establishes a sustainable framework for cooperation between the parties to ensure effective protection of investors’ rights and legitimate interests, promptly identify and eliminate systemic barriers, and coordinate efforts to further improve the investment climate in the Republic of Kazakhstan and within the AIFC jurisdiction, while avoiding any duplication of mandates or jurisdictions.
Under the Memorandum, the parties will exchange information on issues affecting investors, including AIFC participants, jointly identify and address the root causes of systemic violations of investors’ rights, cooperate in the pre-trial settlement of disputes between investors and government authorities, and develop proposals to improve the legislation of the Republic of Kazakhstan and the AIFC regulatory framework in the areas of investment activity and investor protection. The parties also intend to coordinate their engagement within international organisations on matters related to investor protection.
A stable legal environment, effective regulation, and robust investor protection form the foundation of a favourable investment climate. These conditions are ensured within the AIFC jurisdiction, where regulation is based on international best practices. Effective protection of investors’ and businesses’ rights is provided by the AIFC Court and the International Arbitration Centre (IAC), two independent institutions that have established themselves as reliable dispute resolution mechanisms in line with international standards.
Renat Bekturov, Governor of the AIFC, noted:
“Investor protection is one of the key prerequisites for a favourable investment climate. The signing of this Memorandum will strengthen cooperation between the AIFC and the Investor Protection Committee, enabling us to respond more effectively to investors’ concerns, promptly identify systemic barriers, and further improve Kazakhstan’s investment environment in line with international best practices.”
Bauyrzhan Yeraly, Chairman of the Investor Protection Committee of the Prosecutor General’s Office of the Republic of Kazakhstan, noted:
“The development of effective investor protection mechanisms and stronger interagency cooperation are essential to enhancing Kazakhstan’s investment attractiveness. Today, attracting investment is a priority for all government bodies. I am therefore confident that closer cooperation between the Investor Protection Committee and the Astana International Financial Centre will give fresh momentum to our joint efforts.”
The signed Memorandum provides a framework for implementing joint initiatives and projects aimed at strengthening investor protection and further enhancing Kazakhstan’s investment ecosystem.
Reference:
The Astana International Financial Centre (AIFC) is an independent jurisdiction where investors and business meet emerging opportunities of Kazakhstan and Central Asia in a transparent and sustainable environment backed by the principles of English Common Law. www.aifc.kz
The AIFC Expat Centre is a specialised multifunctional facility aimed at creating favourable conditions for the entry and stay of foreign investors, employees of AIFC participants, and other international residents in Astana. The Centre ensures smooth integration into Kazakhstani society by offering access to a wide range of government and social integration services through a one-stop-shop system, provided in English.
AIFC Press Office
Ainur Issabayeva, press secretary
E-mail: [email protected]
