Kazakhstan and Kyrgyzstan need to compile common list of unfair investors
28 October 2016 14:16

Kazakhstan and Kyrgyzstan need to compile common list of unfair investors

BISHKEK. KAZINFORM Kazakhstan and Kyrgyzstan need to establish close cooperation and compile a common list of unfair investors whose activity may impair national interests. National security expert of Kyrgyzstan, retired Major General Malik Jumagulov has said it today at the presentation of Kazakhstan 2050 Strategy and 100 Specific Steps National Plan held at the Embassy of Kazakhstan in Bishkek, Kazinform correspondent reports.

The Embassy staff informed the attendees about the measures launched by the Kazakh Government on increasing the country's investment attractiveness, protection of national interests from unfair investors, including Canada's World Wide Minerals which has been litigating with Kazakhstan for about 20 years.

Jumagulov emphasized the experience of Kazakhstan in building relations with foreign investors and resolution of regularly arising conflicts.
"In order to protect national interests, the Ministry of Justice of Kazakhstan has established a Department for Protection of the State's Property Rights. Over the period of its activity, the Department has ensured solution of 6 arbitration cases in favor of Kazakhstan to the amount of $9.4bln. To improve its investment attractiveness, the country has established the International Arbitration Court on the ground of the Astana International Financial Centre based on example of Dubai. The court will attract well-known international judges capable of reviewing the cases as per international standards," Jumagulov added.

"As part of exchange of experience in implementation of investment programs, Kazakhstan and Kyrgyzstan need to establish close cooperation and compile a common list of unfair investors whose activity may impair both countries' national interests," the expert stressed.

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