Azernews.Az

Kazakhstan cannot rely on external borrowing and needs to create conditions for domestic business development, President Nursultan Nazarbayev said at the joint session of Parliament chambers on Sept.1.

"Our new political course accounts for the development of our country in global dimensions. The possibility of new global crises has not decreased. Instability of commodity prices is apparently a long term trend. To rely on only external lending would be unwise. It is important to maximise the use of all possible sources of internal development," Nazarbayev said.

He noted the importance of "creation of such a legal environment whereby domestic business would develop confidently and effectively."

"I instructed the government to develop a project called the Code of Entrepreneurs. It is necessary to consolidate within it, the basic principles of the Kazakhstan business and interaction with the state," the President said.

He added that the law on public services has already been adopted and is being implemented. The law is directed towards improving the business environment in the country which increases confidence in the state.