Issues of settlement of investment disputes between the Republic of Kazakhstan and individuals or legal entities of other states.

Abstract

Since the early 1990s, Kazakhstan has been actively attracting foreign direct investment (FDI), concluding various investment agreements, and enacting legislation to encourage this process.

To encourage foreign capital, as well as the need to settle investment disputes, in 2004 the Republic of Kazakhstan ratified the Convention on the Settlement of Investment Disputes between States and Nationals of Other States, March 18, 1965. Washington, March 18, 1965.

As follows from the Resolution of the Government of the Republic of Kazakhstan dated July 15, 2022 "On Approval of the Concept of Investment Policy of the Republic of Kazakhstan until 2026" for the period 2010-2020 the level of foreign direct investment amounted to 250 billion USD.

According to this Resolution, the level of re-investment of foreign capital in our country's economy for the period 2005-2020 remains at a low level of 15 percent, while the world average is 30-35 percent.

The creation of favorable investment conditions, the promotion and protection of investors' interests and the development of mechanisms to compensate for losses in the event of nationalization or expropriation play a key role in attracting foreign investment.

Thus, from the perspective of foreign investors, one of the problematic aspects of the country's investment attractiveness is the lack of confidence in the judicial system, including the enforcement of arbitration awards within the judicial system of the Republic of Kazakhstan.

In the opinion of the author, the practical significance of the article lies in the development of proposals for the improvement of investment attractiveness through the elimination of contradictions in the legal acts of the Republic of Kazakhstan in the settlement and resolution of investment disputes within the framework of obligations under the Convention of 18 March 1965.