President Tokayev wants the cabinet to streamline paperwork for investors

According to President Kassym-Jomart Tokayev, there is no effective regulation of the construction sector in Kazakhstan. He suggested simplifying the process of getting approval documentation for investors in the sector.

As the president noted, the current methodology for calculating construction projects’ costs based on approximate estimates has fallen behind modern international standards.

«Investors lose their money and time; they go to other countries with fewer requirements necessary to obtain approval documents for construction. The cabinet needs to simplify this process of getting approval documents for investors,» the president said during a meeting with cabinet members.

Tokayev also noted that a year ago he ordered the authorities to prepare the Town Planning Code. However, the draft document he received was just a compilation of already existing rules with no new approaches and solutions.

«This document must be revised and added,» he emphasized.

Moreover, the president brought up the issue of quality control in the construction sector. Tokayev highlighted that the safety of people is the highest priority, which is why the cabinet has to strengthen control over the industry. However, the president also noted that the authorities must keep complying with the balance of interests to avoid the situation of the state taking over this competitive market.

The context. In January 2024, the prosecutors of Astana city announced that they were investigating seven criminal cases against developers of ten apartment complexes. All of them were accused of wrongdoing. The police have already detained seven individuals, while another one was detained in Russia.