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Kazakhstan to protect domestic telecoms
RBC, 01.12.2003, Astana 19:23:57.In 2004, the Kazakhstani government will confine the share of foreign capital in domestic telecommunications companies to 49 percent, Deputy Chairman of the Kazakhstani state agency on computerization and communication Dulat Orazalinov reported. It is still unclear what will be done with foreign investors who have a controlling stake in such companies already. The government of Kazakhstan has recently introduced a series of related amendments to legislation on telecommunications as well as to the law on national security. The amendments envisage imposing a number of restrictions for foreign investors. The official said these measures were due to interests of national security and the necessity of encouraging domestic investors ahead of telecommunications market liberalization. Orazalinov expressed hope that the restrictions would take effect in January or February 2004 after the parliament's approval. He is of the opinion however that they will be lifted after domestic companies reach a certain level so that they can be on equal terms with foreign telecommunications giants.
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