New Civil Code to be drafted in Kazakhstan

Kazakh President Kassym-Jomart Tokayev has instructed that a new Civil Code be drafted by the end of next year.

Operativ Media reports, citing Kazakh media, that the code will be developed for a transition economy.

“In today's world, the legal system plays a special role in successfully implementing innovations and enhancing economic competitiveness. The current Civil Code was adopted in the 1990s. This document laid the foundation for forming key market economy institutions and enshrined the principle of property protection. Furthermore, it established the legal basis for civil relations in a new historical era,” Kassym-Jomart Tokayev said.

“Back then, the concept of advanced technology did not even exist. Naturally, over the past 30 years, the entire world, including our society, has undergone fundamental changes. Taking all this into account, I believe it is essential to adopt a new Civil Code that will serve as the legal foundation for a balanced transition to the economy of the future. This will provide legal stability for entrepreneurs, investors, and citizens so they can conduct their business without concern,” the President noted.