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Tengrinews.kz - President Kassym-Jomart Tokayev addressed business leaders regarding the return of assets and urged the government and the General Prosecutor's Office to eliminate negative factors affecting the investment climate.
Tengrinews.kz - President Kassym-Jomart Tokayev addressed business leaders regarding the return of assets and urged the government and the General Prosecutor's Office to eliminate negative factors affecting the investment climate.
During his Address to the Nation, Tokayev emphasized the need for clarity in the interaction between the state and capital owners, particularly concerning the ongoing efforts to repatriate assets.
"Last year, during a meeting with the business community, I made my position clear. We agreed that a key condition for the amnesty of capital would be the reinvestment of these funds into Kazakhstan’s economy. It is crucial that this money works for the benefit of the country. This condition must be legally enshrined. Entrepreneurs included in the relevant registry should be allowed to enter into agreements without having to acknowledge any illegality in the transferred assets. This is a significant concession in favor of major entrepreneurs. However, these businessmen must, in turn, cooperate with the government and the General Prosecutor's Office by directing these funds into the national budget," said the President.
He further emphasized that business leaders should act out of goodwill and not haggle over every tenge. As citizens of Kazakhstan, they are expected to contribute significantly to the construction of schools, hospitals, stadiums, museums, and other socio-cultural infrastructure.
"Such individuals can have their names placed on a 'golden list' of benefactors. However, if they refuse or delay the process, the conversation with these entrepreneurs will be different. It is also necessary to systematize all information regarding the assets returned to the state and their intended use," Tokayev stated.
Additionally, Tokayev addressed the high level of state participation in the economy, which he said "disrupts market conditions and stifles private initiative."
"We must acknowledge that we have not yet developed an optimal policy for managing state-owned enterprises. It is essential to legally define the goals, functions, types, financing methods, and other aspects of their operations," said the President.
He also highlighted the need for stability and a systematic approach to financial relations between state holdings and the government.
"In my 2022 Address, I called for regulation 'from a clean slate.' As part of the first phase of reform, over 10,000 excessive and outdated requirements hindering business activities have already been removed. The General Prosecutor's Office is now involved in overseeing major investment projects, and 'green corridor' conditions have been created for investors, while economic crimes are being decriminalized. However, complaints from entrepreneurs about excessive oversight and regulatory activities by government agencies continue to surface," Tokayev added.
On September 2, President Kassym-Jomart Tokayev delivered his annual Address to the Nation during a joint session of the Parliament chambers. The President's speech focused on the political and socio-economic development prospects of Kazakhstan for the upcoming period.
