Kazakhstan floats its national currency, tenge, allowing the
market to determine the tenge rate. Despite uncertainty in the
strength of local currency, Kazakhstan is still pursuing the
attraction of new investments in the domestic market, including the
coming EXPO-2017. This issue of the Market eyesight will focus on
the country's decision to float tenge, as well as new legal
conditions for the investors in certain sectors of
Taxation of Subsoil Users
The Government of Kazakhstan will reduce the rate of the oil and
gas, mining and chemical industries starting from September,
Following certain analytical researches of oil and gas companies
and reduce the tax rate in order to stimulate the operations. This
is the opportunity to reduce the general tax burden on such
companies by 80%, around 46 billion tenge.
The Government is also planning to issue a number of
The New Antitrust Regulation
By 2017 Kazakhstan will move to the OECD standards
This will allow investors to plan their costs, and will tighten
control over the implementation of investment programs.
EXPO 2017 Participants
India along with China have expressed willingness to participate
in the Expo 2017 in Kazakhstan.
The participation might give a new impulse to the strengthening
of Kazakh-Indian strategic partnership, along with opening new
areas of cooperation, in particular in the field of
R. Zhoshybayev (the First Deputy Minister of Foreign Affairs)
met representatives of the Ministries of Foreign Affairs, Trade and
Industry, Tourism in India, India Trade Promotion Organization
(ITPO), the Association of Tour Operators, as well as high-level
representatives of the Confederation of Indian Industry along with
leading Indian companies in the field of renewable energy sources
During the meeting, the Ministry of Commerce and Industry of
India discussed issues of bilateral trade and economic relations,
prospects of cooperation in the field of «green» energy
and interaction of relevant government agencies and companies of
the two countries for participation in the exhibition.
As regards Chinese participation, it intends to present to the
world the concept of energy development. Kazakhstan is currently
considering the issue of simplification of tourism for Chinese
citizens in Kazakhstan, including through the signing two
agreements with leading Chinese tour operators.
Potential PPP projects in healthcare in Almaty and
The hospital for 300 beds in Almaty is planned for
construction as the concession project, with an estimated value of
$90 million US dollars. The Ministry of Health will provide the
exclusive right to build and operate to the concessionaire for the
period of 25 years. Similar concession project is planned for
construction in Kyzylorda. The local skimpy as the initiator of the
project is planning to attract investors for the construction and
operation of the facility. The available financial models are
planned to be employed based on the principles of PPP.
Both projects will aim to attract potential concessionaires,
experienced in construction and operation of similar facilities
within the realities of Kazakhstan environment.
The Damages Directive, which seeks to promote and harmonise the private enforcement of EU competition law before national courts across the European Union – and which was first published in December 2014 after more than ten years of debate – was due to be transposed into national law by each Member State by 27 December 2016
Turkey's Court of Cassation recently held that the Consumer Court is the appropriate forum for a lawsuit filed by a consumer against a bank, seeking compensation for damages arising from the bank's competition law violation.
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