Senate ratifies Kazakhstan-UAE agrt on investment protection
14:58, 15 December 2022
ASTANA. KAZINFORM Senators have ratified the Agreement between the Government of the Republic of Kazakhstan and the Government of the United Arab Emirates on encouragement and mutual protection of investments, Kazinform reports.
The document provides for encouragement and creation of favorable conditions, as well as protection and security for the investors in the two countries’ territories.
The document regulates free transfer of investment-related payments.
As per the law, the investments of one side cannot be nationalized, expropriated, seized in the territory of the second country, except for the measures taken for public purposes, in a non-discriminatory manner and in compliance with the legal proceeding, with payment of adequate, prompt and effective compensation.