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Kazakh president amends legislative acts on entrepreneurial activity

24 May 2018 [16:37] - TODAY.AZ

By  Trend


President of Kazakhstan Nursultan Nazarbayev signed the law "On Amendments and Additions to Some Legislative Acts of the Republic of Kazakhstan on Improving Regulation of Entrepreneurial Activity," the presidential press service said in a message.

The law provides for the reduction of state control functions by almost 30 percent. An important role is also assigned to the institution of preventive control and ordering of services of natural monopolies and the processes of quasi-public sector.

Speaking at the ceremony of public signing of the law, Kazakh president stressed that the country achieved strong institutional foundation of market economy during the years of independence.

"Private initiative and free entrepreneurship have become key factors in economic development and the growth of the country's welfare," Nazarbayev said.

He also touched upon the measures envisaged in the law for frontal reduction of business costs and the exclusion of norms that impede competition.

"The law includes nearly 1,000 amendments to 14 codes and 109 laws. All these changes fully correspond to the main strategic course of the state - to create the most favorable 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," Nazarbayev emphasized.

The president of Kazakhstan also added that the country presently implements "Five Social Initiatives," which offer wide opportunities for small and medium-sized businesses, and expressed confidence that the adoption of the new law will be a new serious stimulus for strengthening business activity in the country.

URL: http://www.today.az/news/regions/170367.html

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