President Kassym-Jomart Tokayev signs the agreement, ensuring fair treatment and protection for investors from both nations.
PRESIDENT Kassym-Jomart Tokayev of Kazakhstan signed the law ratifying the agreement on the promotion and mutual protection of investments between Kazakhstan and Singapore on 7th February 2024, as reported by the Akorda press service.
The agreement, aimed at fostering investment activities, ensures that investors from both countries are treated fairly and equitably, and provides them with full protection and security under international law. It encourages and creates favorable conditions for investors on each other’s territory, aligning with their national legislation and general economic policies.
Key elements of the agreement include defining national treatment and the most favored national treatment for investors, outlining terms for compensation for losses and transfers, and specifying restrictions to protect the balance of payments and subrogation. Additionally, the agreement prohibits the nationalization or expropriation of investors’ assets, with conditions outlined in the event of such occurrences.
Source: The Antana Times
