ASHGABAT, Turkmenistan, September 4. The Senate of Kazakhstan has ratified the Agreement on the Promotion and Mutual Protection of Investments with Turkmenistan, aimed at creating predictable and secure conditions for investors of both countries, Trend reports via the Senate.
The document, wrapped up between the governments of Kazakhstan and Turkmenistan, lays out fair and equal treatment for investors while allowing the parties to pinpoint sensitive industries that might need special regulation.
According to the agreement, nationalization or expropriation of investments is permitted only in the public interest and must be accompanied by compensation at fair market value.
Kazakhstan has already tied the knot with around 50 countries through similar bilateral agreements and has also inked one multilateral agreement under the umbrella of the Eurasian Economic Union (EAEU). The geography of these agreements covers major regions and global economic centers.
The ratified deal with Turkmenistan is viewed as part of Kazakhstan’s broader strategy to strengthen investor protection mechanisms and create favorable conditions for attracting foreign capital.
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