Improvement of business legislation in the Republic of Kazakhstan

The Ministry of Justice of the Republic of Kazakhstan together with Reed Smith LLP company held a round table on: «Improvement of business legislation in the Republic of Kazakhstan». The event was attended by international experts, representatives of interested state agencies and organizations.

The goal is to present and discuss the approaches developed by international experts on the further development of certain provisions of the Business Code, which will be used in the future for legislative activities.

During the work of the round table, issues related to the reform of corporate law, as well as contract law, were also discussed.In addition, participants of the event discussed some issues regarding foreign investment and disputes between the investor and the state.

The initiatives put forward for discussion were developed in the course of the analysis of national legislation, law enforcement practice, doctrine and foreign experience.In particular, the legislation of the countries of both the Anglo-Saxon and the Roman-Germanic legal traditions was studied. Among them: the UK, Germany, Singapore, etc.

In general, the ideas and recommendations discussed at the round table will contribute to the further development of Kazakhstan legislation, namely:

• the provision of civil circulation entities with greater freedom for entrepreneurial activity;

  increase contractual discipline;

• enhancing the competitiveness of Kazakhstan law in the regulation of foreign trade transactions;

  improving the investment climate and business environment.