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Principal elements of the new economic policy

The first element is the inviolability of private property

Transparency of court proceedings should guarantee this. In this regard, the reforms in the judicial system are important. New experts are invited to the courts. A new Judicial Collegium of the Supreme Court for Administrative Cases has already been established.

The second element of the economic course is the investment climate.

The government will fulfill all investment obligations. The President also called on business people “to reinvest funds in our country.”

The third element is fair competition.

It is necessary to analyze artificial monopolies, according to President Tokayev. These activities should be prohibited by law. A new tax policy is essential as well as reforms in the procurement system.

“It is necessary to reform the quasi-public sector. These are about 6,500 organizations. The participation of the state in entrepreneurial activity should be reduced,” said the head of state.

President Tokayev instructed the government to reduce administrative barriers.

“Last year, more than 2,500 complaints from entrepreneurs about disagreement with the actions and decisions of officials of the criminal prosecution authorities were considered. Entrepreneurs complained about the police, the economic investigation service, the anti-corruption service, and national security,” he said. Tokayev also instructed the government to review the strict quarantine measures taking into account the concerns of the small and medium-sized businesses.

Constructive interaction between government and business

The President said this is a solid foundation for social stability and ensures important conditions for the implementation of economic and political reforms.

“We are building up a listening state and this meeting proves that all constructive proposals by businesses will be taken into account in sectoral and structural policies,” the President noted