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In 2015 Kazakhstan ranked 41st position in Doing Business rating

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By the commission of the President of the Republic of Kazakhstan N.A.Nazarbayev on the Kazakhstan’s entering to the «Doing Business» Global bank rating of 30, the Government of the Republic of Kazakhstan was conducted a significant work upon the country’s business-climate and rating positions improvement.

In 2015 Kazakhstan essentially approached to the objective to be achieved after taking the 41 position among the 189 world economics.

In  «Doing Business» rating of  2016 Kazakhstan appears as the main relator and marked as the state that implemented the biggest reforms quantity – 19 reforms in seven of  10 directions.

For «Doing Business» rating’s positions improvements advanced the system work of the Government of the RK, conducting in accordance with the commission of Head of the state on a comprehensive solution of the business-climate’s improvements. For example, unprecedented measures were assumed on the functional sphere and administrative pressure reduction on business, through the applicable legislation reforming, regulatory approval system improvement, business creation and state monitoring and control activity’s optimization.

Ministry of National economics of the Republic of Kazakhstan conducted significant reforms on the Kazakhstan’s positions improvement in «Doing Business» rating of the permits on the building, and International trade obtaining procedures simplification indicators.

Global Bank’s report noticed that the reforms implementing by Kazakhstan significantly simplify the conditions of business conduction in country.

For example, in the sphere of objective to be achieved were accepted three packages of amendments in legislation, directed to the procedures quantity reduction, terms and financial charges of business. It is will provide an opportunity to degrade the assignment for the entrepreneurs.

Global Bank group also admonishes the reforms of the Government of the RK upon the following directions:

Registration of business

Kazakhstan simplified the procedures on enterprises registration with the cancellation of payment for the small and medium-sized businesses by abridging the registration terms and company’s stamp using requirement’s cancellation.

Obtaining the permissions on building

Kazakhstan simplified the procedures of the permissions on building by cancellation the requirement of implementation the land parcel topographic shooting.

Registration of property

Kazakhstan simplified the property disposal with cancellation of technical passport obtaining requirement for such disposal and of notarial affirmation of vendor and vendee’s registered documents.

Credit aids obtaining

Kazakhstan simplified the access on the credit aids obtaining, by enactment the law of covered mortgage loans including the general description of combined category of assets that provides as a token off.

Contract performance bond

Kazakhstan simplified the contract performance bond by the compact procedure application of minor lawsuits and by optimization of the law administration procedures and rules.

Pay inability sanction

Kazakhstan simplified the pay inability sanctions procedure with admission for creditors to initiate the reorganization procedures by encouraging the assets sale, also optimized the bankrupts regulations with admission of sponsorship and advantages granting owed to exist uncovered requirements.

Minority investor’s assertion

Kazakhstan enhanced the measures on the minority investors assertion by adding the new contributions that require immediately information disclosure of bargains with connected persons and detailed information in yearly financial reports; admitting a various methods of getting the court evidences; admitting the requirement that the changes in the rights connected  with a part of enterprise are liable for the confirmation of two-thirds of  other auctioneers votes; prohibiting to the affiliated undertakings to take up shares, that issued by the associated company; and requiring the information disclosure of  the case when the board members appear as the other companies’ managers and of their previous work places.

Last update: 11.03.2016


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