ASTANA – President Kassym-Jomart Tokayev signed the law on ratifying the agreement on the promotion and mutual protection of investments between Kazakhstan and Singapore on Feb. 7, reported the Akorda press service.
President Kassym-Jomart Tokayev. Photo credit: akorda.kz.
As per the agreement, both countries encourage and create favorable conditions for investors’ activities on each other’s territory in alignment with their national legislation and general economic policies.
The document guarantees investments receive fair and equitable treatment, along with full protection and security, following customary international law.
For these purposes, the agreement defines national treatment and the most favored nation treatment for investors from both countries, outlining terms for compensation for losses and transfers, restrictions to protect the balance of payments and subrogation.
The agreement also stipulates that the parties will not nationalize or expropriate investors’ assets, specifying conditions in the event of such cases.
On Feb. 2, President Tokayev signed a similar agreement with Qatar.
