December 21, 2020
Will the state be liable for the concession with its assets? At the request of investors, amendments are made to the Law of the Republic of Kazakhstan “On Concessions”
Investors demand to return the definition of “concession provider” as the Republic of Kazakhstan. Failure to comply with this condition may result in termination of the concession agreement. In this connection, the amendment is planned to be retroactive from December 17, 2017.
Updated amendment: “Concession provider is one or more state bodies acting on behalf of the Republic of Kazakhstan or the Government concluding a concession agreement, or akimat that has concluded a concession agreement on behalf of an administrative-territorial unit (region, city of national importance or the capital)”.