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Kazakhstan Institute for Strategic Studies

under the President of the Republic of Kazakhstan

Address of the President to the people of Kazakhstan

Third Modernization of Kazakhstan

"Only those nations who manage to set the future goals and proceed resolutely facing the challenges,

instead of sitting on the hedge and waiting, are the winners."

Expert Meeting Constitutional Reform: New Stage of Modernisation

On April 5, 2017 the Institute for Strategic Studies under the President of Kazakhstan (KazISS) held the Expert Meeting on the "Constitutional Reform: New Stage of Modernisation".

In her welcoming speech, the KazISS Director Zarema Shaukenova explained the place of the event in the series of the similar events the KazISS has initiated to provide aPLATFORM for in-depth discussion on the current constitutional reform in particular and modernization in general. Dr. Shaukenova emphasized the significance of one particular amendment stipulating for the special status of the Astana International Financial Center. According to the amended Constitution, the special legal regime in financial sphere shall be established in Astana that shall be regulated by the relative Constitutional Law. The Astana IFC is aimed at inclusion of Kazakhstan into the global and regional context and creation of new form of circulation of finance and capital.

        The key speaker Managing Director of the Astana International Financial Center Sayasat Nurbek outlined the plans and prospects for the IFC and noted that given rather severe competition, the IFC is to take unprecedented measures in order to attract potential participants including the provision of 50-year tax-free regime for all within the IFC jurisdiction. This rather prolonged period shall attract more investors (for more information, see presentation here).

        A number of reputable experts took part in the discussion, namely Pavel Kazantsev, Member of the Mazhilis of the Parliament of Kazakhstan; Aigul Solovyova, a prominent activist; Gani Nygymetov, Director of the Institute of Eurasian Integration; Dariga Kurmanova, Executive Director of the "Union of Lawyers of Kazakhstan"; Tolkyn Nurusheva, Associate Professor at Academy of Law under the Supreme Court of Kazakhstan, and others.

      The participants agreed that the current constitutional reform should be regarded as a continuation of the broader modernization process aimed at improvement of the investment climate and overall economic situation that would determine the future development through better international engagement of Kazakhstan’s business.