In a bid to improve Kazakhstan's reputation with investors, a call for a transparent mechanism in investment obligations is made
Rising arbitration disputes targeted at Kazakhstan, indicated by deputy.
A parliamentary speach by Dariga Nazarbayeva in the Mazhilis, as reported by Total.kz correspondent, highlighted the need to address the negative impact of public arbitration proceedings on foreign investors.
"The negative coverage of public arbitration disputes between Kazakhstan and foreign investors increases our country's reputational risks," Nazarbayeva said at the plenary session.
She points out the flaws in the ongoing arbitration processes, where unscrupulous foreign investors might file claims for fake investments, which, if resolved in their favor, would unfairly burden the country and pose risks to state assets.
To rectify this issue, Nazarbayeva proposes a streamlined and transparent mechanism for fulfilling investment obligations to prevent inflated expenses when working with investors. She asks the government to present its position on this matter, stating its significance for the country's investment appeal.
Recent developments suggest a strategic approach to dispute resolution in Kazakhstan. The government is focusing on amicable settlements over contesting disputes, prioritizing capacity building and creating a culture that encourages friendly investor-state relations. The demand for qualified mediators and procedural mechanisms is growing as mediation becomes more prevalent.
Kazakhstan is also expected to engage in dynamic treaty negotiations, developing Model Bilateral Investment Treaties (BITs) that align with its negotiating stance. In addition, there are high-stakes cases like the $160 billion arbitration case against foreign oil companies, which involves claims over revenue distribution, environmental breaches, and alleged corruption.
While precise details about Nazarbayeva's proposals remain unclear, her role as a former high-ranking government figure might involve advocating for policies that improve Kazakhstan's investment climate. The proposed measures are part of a broader effort by Kazakhstan to create a more stable and predictable business environment to attract foreign investment.
- Dariga Nazarbayeva, in a recent plenary session, advocated for a transparent mechanism in handling investment obligations in Kazakhstan, aiming to mitigate the impact of public arbitration risks on the country's business relations with foreign investors.
- Nazarbayeva highlighted concerns over unscrupulous investors filing false claims during arbitrations, potentially leading to unfair burdens and risks to state assets.
- To address these issues, she proposed a streamlined, transparent system for fulfilling investment obligations, aiming to prevent inflated expenses and improve Kazakhstan's investment appeal.
- Kazakhstan's approach to dispute resolution has been strategic, emphasizing amicable settlements and capacity building, with a growing demand for qualified mediators and procedural mechanisms.
- In the broader context, Nazarbayeva's proposals aim to create a more stable and predictable business environment in Kazakhstan, aligning with a larger effort to attract foreign investment and POSITIVELY shapes Kazakhstan's general-news narrative with investors.
