Kazakhstan bans creating new quasi-public companies until 2027

Kazakhstan imposed a ban on creating new quasi-public companies to be valid until December 31, 2026, Kazinform News Agency reports.

The ban was introduced by the Decree of the Kazakh President on economic liberalization.

For the first time, the moratorium was mentioned in the President’s Decree on economic liberalization measures as of May 10, 2024.

The prohibition of setting up new companies should free economic space for the full realization of the potential of private entrepreneurship.

The Kazakh National Economy Ministry issued the draft law in July this year.