Illegally acquired assets repatriated from abroad should be a source of investments – President
Illegally acquired assets returned from abroad should become a source of investments, believes Head of State Kassym-Jomart Tokayev, Kazinform News Agency reports.
He emphasized that repatriated funds should be considered a source of investments at the Wednesday extended session of the Kazakh Government.
After President Tokayev signed the law on repatriation of illegal acquired assets in July 2023, Kazakhstan has been working towards bringing them back from abroad and channeling into key investment projects. For instance, construction of comfortable schools countrywide as part of the namesake project.
The Head of State also urged to offer investors full support through a one-stop shop principle and launch an effective system to monitor the implementation of investment projects.
Kassym-Jomart Tokayev stressed local authorities should prioritize attracting big investments into economy and their work in that respect will be assessed.
The President also called on dramatically increasing the inflow of foreign and domestic investments through the efforts of recently established Investment Staff which is expected to shape an ecosystem of attracting investments, establish effective dialogue with business community and promptly made necessary decisions in that respect.