The draft law also aims to eliminate legal errors in the Investment Law.
The Ministry of Economy and Commerce has developed a new draft law aimed at correcting errors found in the current Investment Law, as well as simplifying the process of interaction between investors and government agencies.
The proposed document clarifies the rules for the confiscation of property, which will now be based solely on criminal legislation, unlike the previous practice where civil legislation was applied. Additionally, inaccurate references to articles concerning the amount of the investment agreement have been corrected, and the mandatory notarization of document copies has been abolished.
According to representatives of the Ministry of Economy and Commerce, these changes are intended to facilitate the process of formalizing agreements for investors, reduce their costs, and eliminate legal discrepancies.
The draft law has already passed its first reading in the Committee of the Jogorku Kenesh, which is responsible for finance, budget, entrepreneurship, and competition development.
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