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Main problem for investors in Kazakhstan is corruption - ABN AMRO Bank Kazakhstan chairman

21.05.2008, 19:52 2706

Almaty. May 21. Kazakhstan Today - The main problem for investors in Kazakhstan is corruption. The chairman of the board of ABN AMRO Bank Kazakhstan Yurgen Rigterink stated on Tuesday during the international conference - Corporate Finance 2008, the agency reports.

"The main problem for investors is corruption. At the moment Kazakhstan occupies 50 place in CPI index, corruption perception index. It does not matter where you are, it is more important that this perception exists. Kazakhstan needs to work over its image," Y. Rigterink explained.

"If you want to diversify economy, the investors will need more varied foundation. The government has already undertaken specific steps. It is priority for the government, but it is also a duty of citizens of Kazakhstan," the chairman of ABN AMRO Bank Kazakhstan considers.

"Another problem for investors is weak institutional and legislative base."

"The situation improves, but the goal is still far away. One of the key factors of success is stable political situation. What will be after the current government - is unknown. The investors need definiteness and confidence," he added.

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