Economics

It is offered to establish an investment court in Kazakhstan

The initiators of the project believe that this court will provide a more professional approach to economic cases.
To support investors in settlement of disputes, as well as to improve the existing legislation in investments in Kazakhstan it is suggested to create a specialized court, Kazpravda.kz reports citing "Novyi vestnik".

This proposal was made by participants of a round table organized by the Supreme Court of the Republic of Kazakhstan. According to them, the establishment of the court should play a decisive role in the country's investment attractiveness.

"We believe that the creation of a specialized court and a Board in the Supreme Court, the reduction of the order of review of judicial acts, will significantly speed up the final resolution of investment disputes, " - said the chairman of RK Supreme Court Kairat Mami.

However, Karaganda entrepreneurs, represented by the Chamber of entrepreneurs of the region, were not so enthusiastic about the news. In particular, it was noted that the establishment of a specialized court in the first place touches the large investment companies rather than small and medium-sized businesses.

"Our participation in establishing a specialized court is very small. The National Chamber is not involved in regulation of such moments, when a dispute arises between two business entities. In general, we are involved, when a businessman is dissatisfied with the work of government agencies and state-owned companies. We still did not have cases in investment area. I am confident that the investment court will be focused on large foreign companies first. Because the primary task is to protect the large foreign investors, if they fail to resolve a conflict on their own. Small and medium businesses are left alone, "- said in the press service of the chamber of entrepreneurs in Karaganda region.



Author:
Elmira Kirgeyeva
13:23, 12 February 2015
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