The delegation of Kazakhstan took part in the meeting of the OECD Committee on Investment in France

The delegation of Kazakhstan with participation of the chairman of specialized judicial collegium of the Supreme Court Kydyrbaeva A.K. at a meeting of the OECD Committee on Investment in France presented the second Review of Kazakhstan's investment policy.

As a result of the presentation the OECD Investment Committee decided to recommend to the OECD Council to invite Kazakhstan as a member of the Investment Committee and to join the OECD Declaration on International Investment and Multinational Enterprises.

Such decision was preceded by a large five-year work of all state bodies of the Republic of Kazakhstan, including the Supreme Court on the implementation of orders of the Head of State in this direction.

So, within the framework of Plan of Nation, in order to ensure the rule of law, from January 1 of the current year in the country for the first time created a separate legal proceeding on investment disputes, which allowed the implementation of the principle of legal certainty in cases related to investment activities.

For this purpose, the new Civil Procedure Code entered into legal force since the beginning of this year, is regulated by civil cases on investment disputes under the rules of the first instance court in Astana city court or the Supreme Court, depending on the status of the investor. For the first time in the Entrepreneurial Code and the Law "On investments" disclosed the concepts  "investor, a major investor and investment."

 Today, civil cases involving large investors get their final approval, passing only two courts: the first and cassation in the Supreme Court, and other investors - three instances: the first in the city of Astana court, appeal and cassation – at the Supreme Court.

Also, for the implementation of international best practices, under the Supreme Court established the International Council, which gives expert advice on the improvement of the national justice system. This is the first experience of such a body in the countries of near and far abroad. The Council consists of 12 reputable local and foreign lawyers, academics and judges who are elected for a period of one year. The Council is headed by the Chairman of the Supreme Court. 

In April 2016, the Law "On arbitration" regulating social relations that arise in the course of arbitration activity in the territory of the Republic of Kazakhstan, as well as the procedure and conditions for the recognition and enforcement of arbitral awards in Kazakhstan was approved.

In general, the Recommendation of the OECD Investment in Kazakhstan - is an indication that the investment climate in our country complies with the requirements of this high international organization.