The special management organization “Alatau City Authority”, the Public International Protection Service of the General Prosecutor’s Office of the Republic of Kazakhstan, the Investor Rights Protection Committee of the General Prosecutor’s Office, and the Prosecutor’s Office of the Almaty Region have signed a Memorandum of Understanding and Cooperation, Qazinform News Agency has learnt from the Committee’s press service.
The document aims to strengthen interaction in protecting the rights and legitimate interests of investors, as well as to create favorable conditions for implementing investment projects in Alatau City. As part of the cooperation, the parties intend to improve mechanisms for swift response to investors’ issues, prevent administrative bottlenecks, and ensure effective interaction among state bodies during the implementation of investment projects.
The significance of this initiative is driven by the scale of Alatau City’s investment plans. Currently, its investment pool includes 67 projects totaling approximately $6.9 billion, with the potential to create around 55,000 jobs. Chairman of the Investor Rights Protection Committee of the General Prosecutor’s Office Bauyrzhan Yeraly noted that given the scale of these investment plants, investor trust and the guaranteed protection of their rights are of paramount importance.
“Behind these massive investment figures are specific investors, their capital, and their trust in Kazakhstan. Hence, our task is not only to respond to issues that have already arisen but also to prevent them at the early stages of project implementation. Today’s memorandum allows us to combine the capabilities of the Alatau City Authority and the Prosecutor’s Office to resolve business issues more promptly and to strengthen investor protection directly at the project execution sites,” Bauyrzhan Yeraly said.
During the event, Chairman Yeraly also presented the main focus areas of the Committee’s work and the active mechanisms for protecting investor rights. These include digital monitoring of investment projects, the ‘personal prosecutor’ institute, the prosecutorial filter, and a mechanism for pretrial dispute resolution.
“Creating a favorable investment climate requires more than just economic potential; it demands clear, transparent mechanisms to protect investor rights. Our task is to ensure systematic support for investment protects, the timely review of arising issues, and the reduction of administrative barriers.
The signed Memorandum will strengthen interaction between the Alatau City Authority and the prosecuting authorities, creating additional mechanisms to protect the legitimate rights and interests of investors,” Alisher Abdykadyrov noted. The signing of the Memorandum marks another step forward in building an efficient investment ecosystem for Alatau City and strengthening cooperation among the institutions responsible for attracting investments, supporting projects, and protecting investor rights.
Earlier, Qazinform News Agency reported that President Kassym-Jomart Tokayev had predicted that the City of Alatau would become a new hub of talents, technologies and investments in Eurasia.