OECD to prepare second review of Kazakhstan’s investment policy

ASTANA. KAZINFORM - In September the current year, experts of the Organization for Economic Cooperation and Development (OECD) began work on the second review of the investment policy of Kazakhstan, this has been announced by Rahim Oshakbayev, vice Minister for Investment and Development at today's press briefing.

Note that the first review was conducted in 2011-2012. As a result, there have been made recommendations for 12 areas for further improvement of the investment climate of the country. In particular, the recommendations related to the expansion of access of investors to international commercial arbitration, development of public-private partnerships, direct investments in agriculture, enhancement of responsible business practices, creating the conditions to reduce administrative and corruption burden on foreign investors and so on. According to Rahim Oshakbayev, the OECD recommendations are planned to be fulfilled until the end of 2016. "The main section of the second review would ensure activities of the national contact center in Kazakhstan, the functions of which are assigned to the Investment Committee under the Ministry for Investment and Development," said the vice Minister. The mission of the Organisation for Economic Co-operation and Development (OECD) is to promote policies that will improve the economic and social well-being of people around the world. The OECD provides a forum in which governments can work together to share experiences and seek solutions to common problems. The OECD works with governments to understand what drives economic, social and environmental change.