It is striking that the small population of Kazakhstan, while living on rich deposits of oil, gas, coal, grain and other resources, still drives on rough roads, drinks water from rusty pipes, and receives electricity from dilapidated electrical networks built decades ago.
Althouth Kazakhstan often reports on government programs and infrastructure development projects such as the Accelerated Industrial and Innovative Development Program, the Ak Bulak Program, and the 2020 Business Roadmap, few changes are noticeable.
It is hoped that the country's leaders will recognise that if the bureaucracy continues to misuse budgetary funds allocated to such programs, the situation may become irreversible. Fortunately, there is increasing awareness that is ineffective to develop infrastructure using state funds exclusively, and the favourable conditions are needed to attract private capital.
An adequate legal framework is a major condition for attracting foreign and domestic private capital to develop infrastructure projects. This framework should facilitate the creation of bankable projects based on project finance and public-private partnerships. In terms of the legal framework, in the past two years Kazakhstan has enacted very good laws. There will be analysed in this article.
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