The economy of our country, including business, is now facing macroeconomic difficulties due to restrictions on the export of certain types of products. This is due to barriers in logistics, rising prices for raw materials and many other obstacles arising from the situation in the region and in the world.

This was stated by the Executive Director of the International Business Council Askar Sydykov at a meeting of the Advisory Council for the Protection of the Rights of Entrepreneurs and Investors, held on April 26, 2023 under the chairmanship of Deputy Prosecutor General Kuban Adyl uulu.

“In the light of recent events, it seems that a special responsibility in ensuring the rights of the country's business lies with the prosecutor's office, in particular, the department for supervision of compliance with the rights of entrepreneurs and the laws of the Prosecutor General’s Office,” said the IBC head.

For business, in most cases it is enough that the authorities at least do not interfere with it. If the state cannot support business, then it is important that the legislation is fully observed.

“Recently, it was announced that funding for the Business Ombudsman Institute will be terminated. This means that the burden on business associations in protecting the rights of entrepreneurs will increase, and the role of the department for protecting the rights of entrepreneurs of the Prosecutor General's Office will also increase,” Sydykov said.

What can be done to strengthen the protection of investments and private property? First of all, to give a signal to all state bodies including inspectors, law enforcement and others about the responsibility for non-compliance with the law in relation to entrepreneurs, according to the IBC.

“We have developed draft of amendments to the legislation, which contains proposals for the introduction of special articles on impeding entrepreneurial activity in the Criminal Code. The proposals also include an assessment of the damage caused to the country's economy as a result of illegal actions against business entities,” said Sydykov.

Business positively assessed the unified portal for inspections of business entities, presented at the meeting.

“We hope that the digitalization of the business inspection system will help strengthen the legal protection of entrepreneurs. We will continue to work with the Advisory Council to improve the investment climate and protect private property in the country,” the IBC head concluded.