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Kazakhstan places moratorium on creating quasi-public entities

3 July 2019 19:44
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Kazakhstan places moratorium on creating quasi-public entities

NUR-SULTAN. KAZINFORM - The Head of State, Kassym-Jomart Tokayev, has decreed to impose a moratorium on creating quasi-public entities, Kazinform cites Akorda.

With a view to reduce state participation in business activities and to create conditions for the development of the private sector, I hereby resolve:

1. To place a moratorium until 31st December 2020 on creating entities of the quasi-public sector, except for:

1) legal entities undertaking activities in the social sphere and (or) in the field of sustainment of human settlements;

2) legal entities being established in the course of the optimization of the existing legal entities through their reorganization (merger or transformation);

3) joint-stock companies (limited liability partnerships), where fifty or less percent of voting shares (ownership interests) in its charter capital will be owned by entities of the quasi-state sector;

4) legal entities being established at the instruction of and (or) as agreed upon with the President of the Republic of Kazakhstan.

2. The Government of the Republic of Kazakhstan, jointly with the local executive authorities and entities of the quasi-state sector, as well as the government authorities directly subordinate and accountable to the President of the Republic of Kazakhstan, shall take the necessary measures to implement this Decree.

3. This Decree shall enter into force from the day of its first official publication.

It is to be recalled that President Kassym-Jomart Tokayev announced a moratorium on the creation of new government-owned companies.

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Almas Zheksenbekov

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