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described the existing approaches as outdated and no longer suited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.