BAKU, Azerbaijan, October 28. Kazakhstan should designate an organization to systematically manage investment attraction, President Kassym-Jomart Tokayev said in his Address to the People of Kazakhstan, according to the presidential press service.
"Global competition for investment is intensifying. To remain competitive, we need to make decisions promptly and act quickly," Tokayev said.
He noted that Kazakhstan lacked a consistent system for attracting investors and providing them with comprehensive support.
"Every agency or individual acts as they see fit. As a result, we lack a comprehensive approach, coordination, consistency and expertise," he said.
Tokayev called for further development of a unified system that would enable the centralized management of investment attraction.
"In my view, it is time to address a long-standing issue and designate an organization that will deal with investment systematically," he said.
According to the president, there is currently no such system, while several government agencies have overlapping powers. He described the existing approaches as outdated and no longer suited to current requirements.
Tokayev suggested that the Baiterek holding could take a more active role in investment-related matters.
Meanwhile, the Ministry of National Economy and the Ministry of Foreign Affairs would continue exercising some of their existing powers related to investment, he added.
Tokayev also highlighted the importance of developing Alatau as a city designed to accelerate economic growth and provide a favorable environment for investment and entrepreneurship.
"The main condition for the long-term attractiveness of any international jurisdiction is effective justice. Therefore, Alatau should establish a judicial system that ensures a high quality of justice," he said.
Under the proposed framework, an investment court based on the English common law model would hear commercial cases, while a civil court would handle all other matters related to the city's special legal regime.
The government is to submit the relevant amendments to the Constitutional Law on the Special Legal Regime of Alatau City to the Kurultai by the end of January 2027.
"I would like to remind you that the investment interests of all reputable and honest entrepreneurs are guaranteed by the strongest and most reliable legal protection - the Constitution," Tokayev said.
