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Thursday, 19 May 2022 11:33 GMT

Kazakh government must develop new modern approaches to public-private partnership - president


(MENAFN- Trend News Agency)

BAKU, Azerbaijan, Jan. 21

Trend:

Kazakhstan's government must develop new modern approaches to public-private partnership (PPP), President Kassym-Jomart Tokayev said at a meeting with the local business representatives, Trend reports referring to Kazinform.

'Another direction for attracting investments to the country should be the restart of public-private partnership. Today, this mechanism has essentially become a tool for evading public procurement procedures,' Tokayev noted. 'All business risks are loaded on the budget. Super benefits and super marginalities are unreasonably provided.'

The president added that responsibilities, risks, and incomes must be balanced between the initiators and the state.

Earlier, Tokayev stated that the Government should conduct an analysis of the fulfillment of investment obligations.

'In modern conditions, when the struggle for foreign investments has intensified, we need to rely much more on domestic reserves,' he emphasized.

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