Exploitation of Natural Resources in Kazakhstan: Judicial Practice for Foreign Investment

• Author: Bauyrzhan Yessengeldin - Zhibek Khussainova - Aigul Kurmanova - Dinara Syzdykova - Azamat Zhanseitov
• Position: Dean of the Economics Faculty and Professor of Karaganda State University named after Academician Y.A. Buketov; Editor of Bulletin of the Karaganda University, Economy series. The author may be contacted at: yessen_ baur@inbox.ru - Head of the Department of Economics and International Business and Professor of Karaganda State University named...
• Pages: 169-179

Exploitation of Natural Resources in Kazakhstan:

Judicial Practice for Foreign Investment

Bauyrzhan Yessengeldin

∗

& Zhibek Khussainova

∗∗

& Aigul Kurmanova

∗∗∗

& Dinara Syzdykova

∗∗∗∗

& Azamat Zhanseitov

∗∗∗∗∗

Kazakhstan is one of the few countries worldwide endowed with a wealth of diverse natural

resources. However, the country has yet to fully exploit these resources, for a variety of

reasons, including high levels of corruption, ambiguous laws that cause confusion to the

judiciary and consumers. The aim of this paper is to explore the exploitation of natural

resource in the country from an international legal perspective. The article demonstrates

how corruption hinders the exploitation of natural resources in Kazakhstan. It also

describes how the current law seeks to address the issue of natural resource exploitation,

noting its ambiguities. The paper concludes by highlighting the provisions made in the UN

Declaration concerning Rights to Exploit Natural Resources, and makes recommendations

concerning how Kazakhstan’s government can promote the rights of citizens to enjoy access

to the land and natural resources.

Keywords

Judiciary, Laws, Natural Resource Exploitation Rights, Kazakhstan

* Dean of the Economics Faculty and Professor of Karaganda State University named after Academician Y.A.

Buketov; Editor of Bulletin of the Karaganda University, Economy series. The author may be contacted at: yessen_

baur@inbox.ru

** Head of the Department of Economics and International Business and Professor of Karaganda State University

named after Academician Y.A. Buketov. The author may be contacted at: zhibek_11@mail.ru

*** Associate Professor of the Aktobe Regional State University named after K. Zhubanov. The author may be

contacted at: k.aigul_k@mail.ru

**** Senior lecturer of “Accounting and audit” Chair, Karaganda State University named after Academician Y.A.

Buketov. The author may be contacted at: nochochek@mail.ru

***** Corresponding author. Lecturer of ‘Finance,’ Karaganda State University named after Academician Y.A. Buketov.

The author may be contacted at: azamat.zhanseitov@icloud.com

J. EAST ASIA & INT’L L. Vol. 12/No.1 (2019); 169-179

Publication type : Research Article

Section : East Asian Observer

DOI : http://dx.doi.org/10.14330/jeail.2019.12.1.09