Majilis ratifies Kazakhstan-Singapore agrt on mutual protection of investments

Majilis deputies approved the bill “On ratification of the Agreement between the Government of the Republic of Kazakhstan and the Government of Singapore on encouragement and mutual protection of investments,” Kazinform News Agency correspondent reports.

Nazira Nurbayeva, Deputy Minister of Foreign Affairs, made a presentation of the draft law.

She said that investment cooperation had been an important aspect for strengthening the economic ties between the two countries.

Singapore is one of the key partners of Kazakhstan in Southeast  Asia and one of the world’s leading financial hubs. Today we observe active development of bilateral relations in the field of investments. Singapore may share its experience and technologies in efficient management of investments to boost Kazakhstan’s economic development, Nazira Nurbayeva noted.

In her words, the agreement has an “umbrella character” and secures investors’ rights from political risks while carrying out investment activity in the territories of the countries.