Kazakhstan has adopted a new Law ‘On Public-Private Partnership’
In the Address, dated 29 January 2010, ‘New Decade - New Economic Growth - New Opportunities for Kazakhstan’, the President of the Republic of Kazakhstan – N.A. Nazarbayev, said, in particular: “A huge potential to attract private investments belongs to the public-private partnership mechanism. We have launched this mechanism in Kazakhstan, but it requires improvements in accordance with the best international practice.”
To implement the Address, on 31 October 2015, the President of the Republic of Kazakhstan signed the Law of the Republic of Kazakhstan ‘On Public-Private Partnership’ No. 379-V (hereinafter – the ‘PPP Law’). The PPP Law entered into force on 22 November 2015, however, to implement the PPP Law, at least nine by-laws envisaged be adopted by 20161. In addition, on 29 October 2015, the new Entrepreneurial Code No. 375-V was signed, which shall be effective in most part from 1 January 2016, and where the whole chapter is devoted to the PPP regulation.
Since the legal framework for the implementation of PPP projects in Kazakhstan has been pretty much established, the next year or two shall show the changes in the ratio of concessional and non-concessional public-private partnership projects in Kazakhstan, the attractiveness and effectiveness of the institution of the public-private partnership contract as compared with a concession agreement both for business and state.
Was published in «КУРСИВъ» newspaper, № 49 (627), 16 December 2015.