The bill includes adjustments to legal inconsistencies in the current Investment Law.
The Ministry of Economy and Commerce has presented a new bill aimed at correcting existing errors in the "Investment Law" and simplifying the process of interaction between investors and government authorities.
According to the innovations, the rules for the confiscation of investors' property will be revised — this measure will now be applied exclusively in accordance with criminal legislation, rather than civil law as it was before. In addition, the bill eliminates the erroneous reference to the article concerning the size of the investment agreement and cancels the requirement for mandatory notarization of document copies.
In the Ministry's opinion, these changes will allow investors to more effectively and promptly conclude agreements with the state, leading to reduced costs and the elimination of legal inaccuracies.
The bill has already passed its first reading in the Committee of the Jogorku Kenesh, which deals with finance, budget, entrepreneurship, and competition development.
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