Kazakhstan opens doors for foreign construction companies

ASTANA, December 12 - Kazakhstan has lifted restrictions on foreign capital’s participation in the country’s construction activities.

On Tuesday, President Nursultan Nazarbayev signed a revised law on architecture and construction that excludes a provision restricting foreign capitals’ share in joint ventures’ authorized capital to 49 percent, the presidential press service told Itar-Tass.

“The lifting of this restriction will help expand opportunities for cooperation and competition of domestic companies with foreign construction firms and create conditions to meet construction industry’s demands,” initiators of the law said.

By lifting this restriction Kazakhstan will meet international requirements that are necessary for the country’s accession to the WTO, the press service said.