Hot news:
Historic Chinese church gutted by fire: Xinhua Nissan says April-June net profit jumps 37% on-year to $1.1 bn Geneticists offer clues to better rice, tomato crops Japan rolls out more sanctions over Ukraine There is more to Golovkin than everyone thinks: Sapiyev, Shaw and Geale comment on Golovkin-Geale fight Carl Froch: Golovkin too dangerous Astana's Vincenzo Nimbali celebrates his victory at Tour de France Golovkin: Ready to fight Quillin and Cotto to unify titles Golovkin's KO ratio highest in history of middleweight boxing Nursultan Nazarbayev congratulates Kazakhstanis on Eid al-Fitr Kazakhstan urges resolving Gaza Strip crisis Every second Kazakhstani relies on self-treatment: Ministry of Health Gloves on for WSB 5th season: Astana Arlans opponents announced Almaty can host MotoGP: Jorge Lorenzo Almaty tending to its rivers Marooned in Central Asian desert that was once sea Ukrainian Embassy in Kazakhstan: airplane crash is Russian terrorist attack Kazakh scientists find way to mitigate eco damage of bureaucracy Arab states to mark end of Ramadan from Monday Suspected militants kidnap Cameroon minister's wife, kill 6: police Russia ordered to pay Yukos shareholders $50 billion North American box office loves 'Lucy' Mexico arrests 32 cops for alleged organized crime ties Uzbek cars hinder development of Kazakhstani car manufacturing George Groves and Ryota Murata help Golovkin succeed Plane crash-lands on US beach, killing father Two Americans, Freetown resident latest Ebola victims Kazakhstani climber to ascend Volcanic Seven Summits Eight hospitalized after US lightning strike Student survivors testify in Korea ferry trial Golovkin TKOs Geale in 3rd round Australia approves huge India-backed mine Aruba releases Venezuelan wanted in US on drug charges Kazakhstan's anti-corruption movement to eradicate corruption through education Kazakhstani guitar player aspires to win Guitar Idol 2014 Bungee jumping in Astana on July 27 No Kazakhstanis among Air Algerie plane crash victims Glamourous Salzburg Festival kicks off amid budget worries Halle Berry lends star power to fight hunger in Nicaragua Golovkin-Geale weight-in, KO predicted Giant anteaters kill two hunters in Brazil UK journalist for Russian TV says Ukraine deported him Cameroon sends 14 Boko Haram members to prison: report Slovak president hands over salary to the poor, sick Japanese PM opens LatAm tour with Mexico energy deals Veteran Catalan leader reveals family kept money abroad Azamat Tazhayakov refuses to frame Dias Kadyrbaev in exchange for freedom Bose sues Beats over headphone patents Kazakhstan does not need its own payment system: experts One of five 9/11 accused to be tried separately: judge Obama, Central American leaders meet on child migrants Air Algerie crash wipes out entire families Maillot brings sexy 'Shrew' to scandal-hit Bolshoi US congratulates Iraq on electing new president South Africa to host 2016 AIDS conference Iran confirms arrest of Washington Post correspondent Golovkin debuts on Broadway 50 Kazakh tourists stuck in Tel Aviv airport after missile attack Kazakh expedition sets out to China 34,000 education grants up for taking in Kazakhstan in 2014 Cautious Royal Bank of Scotland reports sharp recovery Kazakh swims 70km to commemorate 70th Victory Day Effect of potential free trade zone between Turkey and Customs Union on Kazakhstan Ukraine forces take another strategic city: Kiev Tazhayakov's verdict could affect other Boston bombing cases Azamat Tazhayakov's lawyer to lodge an appeal Media predicts Golovkin to TKO Geale in 7th round Israeli fire brings Gaza deaths to 808: medics Chain of halal shops may open in Astana Iraqi jihadists order genital mutilation of all women Underage teens risk live to take photo in Astana Gunmen kill 15 civilians travelling in central Afghanistan Greek policeman, 8 others charged with smuggling antiquities Wreckage of missing Algerian airliner found in Mali Australian mogul Packer gives away $188 million Sudanese Christian woman spared death sentence meets Pope Chinese billionaires criticised for giving Harvard $15m Paracetamol no better than placebo in low-back pain: study US food firm sorry over China 'bad meat' scandal Air Algerie flight seen 'falling' in northern Mali Kazakh experts doubt anti-Russian sanctions can damage Kazakhstan 66% fail Complex Testing of Entrants in Kazakhstan President Nazarbayev writes Golovkin: 2 days to Golovkin-Geale fight Grim reality of Kazakhstani rehab centres for abused children Armenia to become full member of EEU in January: Armenian PM High-flying hopes of nonexistent planes in Kazakhstan Kazakhstan steps up space research Movie with Kazakh composer's soundtracks shortlisted for Toronto Film Festival Climate change ravaging Antarctic fur seals: study Seizure of land plots in Astana is legal: General Prosecutor's Office Condemned man's US execution takes nearly two hours Surgeons remove 232 teeth from Indian teenager India train hits school bus, at least 11 children dead Kazakhstan and Russia discuss extending sales contract for Karachaganak gas More than 2.2 billion people 'poor or near-poor': UN report Russian cargo craft docks with ISS, science satellite fails Three women arrested for helping Somalia's Al-Qaeda-linked Shebab Canadian aviation giant Bombardier to cut 1,800 jobs Australian Medical Board bans prominent euthanasia doctor 48 killed, 10 survivors in Taiwan plane crash: airline Funeral demands justice for NY man choked by police Beetles devour George Harrison tribute tree MH17 black boxes to be sent to UK lab: Malaysia S. Korean police slammed over ferry tycoon's body In the footsteps of a great Kazakh traveler Kazakh tycoon's legal team doubt French justice Kazakhstan and Kyrgyzstan exchange blows as latter prepares to join Customs Union Kazakh students meet Chinese President Ilya Ilyin of Kazakhstan 99.9% sure about getting 4th World Championship gold Houdini challenged by Kazakhstani illusionist Life in once flooded Kokpekty village goes on Formula One: S.Africa's Kyalami track to be sold Netherlands no longer biggest investor into Kazakh economy Indonesia's Prabowo to challenge election result in court Heatstroke kills three in Japan, thousands hospitalised Central Bank Governor advises against borrowing Canada expels 20 Hungarians for human trafficking Only one place to swim in Astana Gaza rocket halts Israel flights as foes resist truce efforts New NATO commander for Europe takes over Kazakhstan-based car makers facing obstacles to car exports to Russia Malaysia Airlines plane brought down by mistake: US intelligence officials Four children, two adults killed in France minibus crash Qatar emir in surprise Saudi visit, holds talks on Gaza Chrysler to recall 792,300 SUVs for ignition problem Geneticists find 100+ DNA pointers for schizophrenia Colombia posts lowest murder rate in 10 years: officials Encephalitis kills 60 in eastern India in fortnight Taiwan battens down for Typhoon Matmo Kazakhstan’s Central Bank Governor on banks’ net worth and deposits restrictions Air Astana conducts first flight to Ukraine since MH17 crash I was in the air over Ukraine when Malaysia Airlines plane crashed: Netherlands ambassador to Kazakhstan Central Bank Governor on prices for real estate at the threshold of EXPO-2017 Turkey arrests more than 50 senior police officers: TV Here's sellin' to you, kid. Casablanca piano up for sale Body of Honduras journalist found; 45th killed since 2003 Deal reached over US gynecologist who secretly taped patients Muslim rebel attacks kill 18 in Philippines: military Accused Android app pirates face criminal charges Texas governor to send 1,000 troops to Mexico border US court makes first conviction in Boston attacks Tazhayakov's lawyer presents no witnesses Monthly average shopping expenses revealed in Kazakhstan Tazhayakov avoided Tamerlan Tsarnaev: FBI Tsarnayev knew how to make bombs: Tazhayakov S. Korea police find body of fugitive ferry owner Kazakhstan announces grain exports figure Brazil construction magnate Norberto Odebrecht dies at 93 N. American box office goes bananas for 'Apes' Russian steelmaker Severstal announces sale of US plants Little boy dragged to death outside hijacked car in S.Africa Lost toddler saved by dog in forest Kazakh helicopter squadron completes tactical flight exercises Astana Opera soloists to perform in Italy Tazhayakov's father accuses FBI agent of false testimony Mountain race ends in tragedy in Kazakhstan's Almaty Three injured in oil refinery fire in western Kazakhstan Russia & Kazakhstan quid pro quo on Baikonur Kazakh company reinsured downed Malaysia Airlines Boeing for $3mln Harmony Lessons actor runs away from orphanage Hailstorm in Ust-Kamenogorsk in July Kazakhstan ranked 8th out of 85 countries at 45th International Physics Olympiad Rebels move MH17 air crash bodies as US accuses Russia Weather is not affected by rocket launches: Kazakh Minister of Emergency Situations Kazakhstan to host 2016 AIBA Women's World Boxing Championships Turkey willing to join free trade area with Customs Union Akon on food, female beauty in Kazakhstan Ukraine risks repeating Afghanistan scenario: Kazakh analyst Industrial State Program had little effect on Kazakhstan's economy: Nazarbayev Prince George, 'style icon', to celebrate first birthday Kazakhstan ranks 79th in Global Innovation Index 2014 Philippine sect opens 'world's largest indoor arena' Kazakhstan and EU negotiate new Partnership and Cooperation Agreement Instructor to appear in India court over alleged child rape China shuts meat factory supplying McDonald's, KFC 'Maverick' star James Garner dies Sky News apologises for rummaging through MH17 luggage Mediterranean migrant boat death toll rises to 30 Xi seeks energy deals in Venezuela Battle for Libya airport leaves at least 47 dead Obama calls for immediate truce as Gaza toll soars US warns against 'pure caffeine' after teen dies Tennis: Kazakhstani Zarina Diyas gets in WTA Top-100 Facebook wants to beam the Internet from the sky

Corruption in Kazakhstan is a major obstacle to FDI: MP

Thursday, 05.06.2014, 12:13
Comments (0)
Corruption in Kazakhstan is a major obstacle to FDI: MP
© Tengrinews archive

Bribe. This is the only way to obtain a public service in Kazakhstan, MP Tursunbek Omurzakov is quoted by Tengrinews as saying.

The MP declared that despite the Government's attempts to improve the business climate in Kazakhstan, their efforts did not have the desired effect. All because of bribes.

Numbers show that the investment climate in Kazakhstan has become less attractive,  Omurzakov said quoting the National Bank's report that showed that in 2013 the gross inflow of direct investment in Kazakhstan decreased by 17 percent.

Citing the recent report of Transparency International, an international watchdog, Omurzakov declared that the scale of corruption in Kazakhstan was steadily growing. “In the recent report of Transparency International Kazakhstan was ranked 140th out of 180 countries, sliding down 7 lines. The NGO believes that despite the measures adopted by the Kazakhstan leaders in order to develop the economy and attract investment, corruption is becoming a major obstacle to doing business in the country. According to the study, a bribe is the only way to obtain a public service. 33 percent have paid bribes to speed up the process of being provided public services, while 39 percent have given bribes in the form of gifts,” said Omurzakov during the review of the draft amendments to the legislation on improving the investment climate.

Omirzakov also referred to the research made by Ernst and Young consulting firm that concluded that in the upcoming three years about three quarters of all foreign direct investments would be made in the traditional industries of Kazakhstan - energy and mining. Kazakhstan’s economy is based on export of raw materials, while light industries - clothes, shoes, furniture, consumer electronics and home appliances - remain highly underdeveloped. The worsening of the investment climate is hardly helping the development in the light industries.

Omirzakov also talked about potential investors being not fully aware of Kazakhstan’s investment potential. "75 percent of investors who are not represented in Kazakhstan, could not even name a single city in Kazakhstan that they considered attractive for investments," he said.

However, the MP is sure that the government will take notice of the points he outlined.

Earlier this year Kazakhstani government put forth a new package of incentives to attract foreign investors, so the Government is clearly concerned about improving the situation.

Reporting by Renat Tashkinbayev, writing by Dinara Urazova editing by Tatyana Kuzmina

Views: 130    Comments: 0
preloader
Add a comment
preloader

2014
2008
2009
2010
2011
2012
2013
2014
July
January
February
March
April
May
June
July
August
September
October
November
December

News
Archive

Mo Tu We Th Fr Sa Su
1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31

Feature stories

Поделиться:
Corruption in Kazakhstan is a major obstacle to FDI: MP
http://en.tengrinews.kz/userdata/news_en/2014/news_253963/thumb_b/photo_40562.jpg
http://en.tengrinews.kz/laws_initiatives/Corruption-in-Kazakhstan-is-a-major-obstacle-to-FDI-MP-253963/