Kazakhstan directs recovered assets to infrastructure projects

Kazakhstan directs recovered assets to infrastructure projects

A total of one trillion tenge of illegally acquired and withdrawn assets have been returned to the country, including $600 billion from abroad. Kazakh Prime Minister Alikhan Smailov reported on the work in this direction at a briefing after the Senate meeting. Smailov stressed that the entire process is carried out in strict accordance with the adopted law, which is a logical continuation of the political and economic reforms initiated by the Head of State. Now the main task of the government is to make the returned funds work for the benefit of the country’s economy.

“These assets will be aimed at the implementation of significant projects in the social sphere and infrastructure ones, as well as investment in production to generate new jobs in Kazakhstan’s economy. There are two approaches – voluntary and compulsory. The compulsory method will strictly adhere to the court’s decision. People who are subject to the law are clearly defined and include those who illegally acquired assets using administrative resources. As for conscientious business people, there is no need for them to worry,” said Smailov.