Authorities of Kazakhstan adopt law to encourage shift away from extraction-based economy

The document exempts export credit agencies from the requirement to hold a licence.

President of Kazakhstan Kassym-Zhomart Tokayev signed a new law to boost non-commodity exports. The document was signed on January 23, reports.

The President of the Republic signed the Law On Amendments and Additions to some legal acts of the Republic of Kazakhstan on export credit agency and non-commodity (works, services) export promotion. This initiative was approved by senators.

The document provides for amendments to the Civil Code, the Budget Code and 8 laws of Kazakhstan. The state guarantee for export support will now apply not only to insurance compensation, but also to guaranteed payments. Furthermore, the new law exempts export credit agencies from the requirement to hold a licence.

25 01 2024, 16:45
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