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24 May 2018
Public enactment of Law Concerning the Introduction of Amendments and Additions to Certain Legislative Acts of Kazakhstan on Improving Business Regulation

Speaking at the signing ceremony, the Head of State noted that over the years of independence, strong institutional foundations of a market economy had been created in Kazakhstan.

- Private initiative and free enterprise have become key factors in the economic development and growth of the country's welfare. Bright symbol of our reforms’ success and effectiveness of our reforms is Astana; Kazakhstan will celebrate its 20th anniversary, the President of Kazakhstan said.

Nursultan Nazarbayev emphasized the special importance of Concerning the Introduction of Amendments and Additions to Certain Legislative Acts of Kazakhstan on Improving Business Regulation Law, signed today.

- The key objective of amendments is liberalisation of legislation in business regulation. The law provides for reduction of state control functions by almost 30 percent. The important role is assigned to the institution of preventive control, which will prevent violations. The services of natural monopolies and the quasi-public sector are being regulated, the Head of State said.

In addition, the President of Kazakhstan described the measures envisaged in the Law for frontal reduction of business costs and the exclusion of norms that impede competition.

- In total, the Law makes about 1000 amendments to 14 codes and 109 laws. The logic of all these changes fully corresponds to the state’s main strategic course - to create the most favourable conditions for business development. Today it is extremely important to open all possible "locks" to strengthen business activity and involve a wide range of people in entrepreneurship, Nursultan Nazarbayev emphasized.

Closing the speech, the Head of State noted that Five Social Initiatives implemented today open wide opportunities for small and medium-sized businesses, and expressed confidence that the adoption of this Law would be a new serious stimulus for strengthening business activities in the country for the prosperity of the entire nation.


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