Investing in Kazakhstan: Global Rankings from the Rule of Law Index 2017 - 2018
Having worked for more than 20+ years with foreign and local investors has given me immense experience in matters and cases related to the investors business in Kazakhstan. I would like to share my experience and learnings with everyone through my series of blog posts that will look at the investment scenario in Kazakhstan though various subjects such as legislative changes impacting investors activities, state policies and rules for investors, interesting cases of investors, new investment preferences, business and legal environment for investors and many more. While some aspects may directly impact the investment climate, I will also discuss various indirect aspects that could determine the investment climate in Kazakhstan.
I hope my blogs will help you with a better understanding of Kazakhstan and its business environment.
GLOBAL RANKINGS from the Rule of Law Index 2017 - 2018
I was recently honored with a certificate of contribution on behalf of the World Justice Project (WJP) and was overwhelmed to see myself listed as a contributing expert for Kazakhstan for this project.
The WJP published the Rule of Law Index 2017 – 2018; an annual report that presents a portrait of the rule of law in 113 countries by providing scores and rankings.
What is the Rule of Law and why it matters?
Rule of law means better public health, economic development, and political participation. Effective rule of law reduces corruption, combats poverty and disease, and protects people from injustices large and small. It is the foundation for communities of equity, opportunity, and peace — underpinning development, accountable government, and respect for fundamental rights.
Highlights
It is a little upsetting to notice that across the globe, communities are still struggling with basic fundamental human rights and injustice
A lack of check on government powers is another area which is leading to rampant corruption and a further weakening of fundamental rights of citizens
What is more troubling to me is that many countries’ overall rule of law score declined (34%) than improved (29%) as compared to their 2016 Index scores.
When I look at results closer home, I am happy to note that Kazakhstan’s position showed the biggest improvement compared to last year. It globally ranked 64 amongst 113 countries which is 9 positions higher than 2016. Our region ranks higher in factors like Order and Security as well as civil justice and regulatory enforcement.
In the next series of my blog posts, I look forward to discussing each of the 8 factors listed in Rule of Law index individually thereby analyzing Kazakhstan’s position in order to determine a favorable investor climate in the region. Such independent rankings help in assessing the reality of any region from an investment point of view as against data which only glorifies the positives of a region that is quite liked in the former USSR parts of the world.
