The meeting was attended by Mr. Zhandos Umiraliev, First Deputy Prosecutor General; Mr. Bauyrzhan Yeraly, Chairman of the Committee for the Protection of Investors’ Rights; Mr. Erlan Dosymbekov, Chairman of the KFICA Governing Board; and Ms. Zhanna Baidasheva, Director of KFICA.

During the meeting, the parties exchanged updates on ongoing activities and key areas of work. Mr. Zhandos Umiraliev noted that, in accordance with the Decree of the Head of State, the functions of the Investment Ombudsman have been assigned to the Prosecutor General, and the Committee for the Protection of Investors’ Rights has been established.

Currently, prosecutors provide individual support to more than 2,800 projects with a total value of KZT 96 trillion. Particular attention was given to the “prosecutorial filter” mechanism, through which all inspections, claims, and administrative measures initiated by government authorities are subject to prior approval by prosecutors. This mechanism operates preventively, without notifying investors, blocking unjustified measures at the initiation stage.

Since its introduction, more than 28,000 decisions of government authorities have been reviewed, resulting in the rejection of over 1,000 unjustified initiatives that could have adversely affected business operations. In particular, around 450 administrative proceedings have been prevented and 470 unlawful inspections have been cancelled. As a result, 340 officials have been held accountable.

The meeting resulted in an agreement to establish cooperation mechanisms for the prompt exchange of information on pressing issues hindering the implementation of investment projects.

KFICA expressed its appreciation for organizing the meeting and confirmed its readiness to serve as a platform for multilateral dialogue, which will contribute to strengthening confidence in the country’s legal system. Subject to mutual agreement, the participation of prosecutors in the working groups of the Foreign Investors’ Council will also be further explored.

In conclusion, the parties reaffirmed their commitment to further developing and strengthening cooperation in the field of investor protection, consolidating the Committee’s role as the principal legal guarantor in the Republic of Kazakhstan.

Source: https://www.gov.kz/memleket/entities/kzpi/press/news/details/1192143?lang=ru