Cabinet tasked to renovate investment attraction system
President Kassym-Jomart Tokayev has set a task to the Government to draw up an action plan to renovate the country's investment attraction system, Kazinform News Agency reports.
“The country has a cumbersome and fragmented system of interaction with investors. It inevitably leads to bureaucracy and duplication of functions. As a result, the work is carried out unsatisfactorily. In the current difficult situation, attracting investment is our top priority, which requires new approaches from us,” he said.
According to him, this issue has been under the jurisdiction of 3-4 institutions and does not find its solution.
The Prime Minister was tasked to develop certain measures on this issue within a 10-day period. The Government was entrusted with a task to draw up an action plan on drastic renovation of the investment attraction system.
As it was reported, Kassym-Jomart Tokayev is presenting his annual State-of-the-Nation Address at the joint sitting of the Parliament chambers.
The Head of State said that AI Ministry will be set up in Kazakhstan. He also proposed to rename the Asset Recovery Committee as the Committee for the Protection of Investors' Rights. He also said that Alatau City will receive a special status.
