Tokayev instructs officials to draft a new Civil Code

Kazakh President Kassym-Jomart Tokayev has instructed the government to draft a new Civil Code, with the possibility of its adoption by the end of 2027.

"In modern conditions, the legal system plays a special role in the successful introduction of innovations and in improving the competitiveness of the economy. The current Civil Code was adopted in the 1990s. It would be no exaggeration to say that the code has fully fulfilled its historic mission," Tokayev said in his address to the people of Kazakhstan.

He noted that this Civil Code was developed for a transition-period economy, when advanced technologies were out of the question.

"Taking all this into account, I consider it necessary to adopt a new Civil Code, which will become the legal basis for a systematic transition to the economy of the future. This will make it possible to ensure legal stability for the calm work of entrepreneurs, investors and citizens. Deputies of the Kurultai (parliament – ed.), together with the government, should immediately begin developing this important document," the president of Kazakhstan explained. According to him, it would be advisable for parliament to adopt the new Civil Code by the end of next year.

Source: TASS