Kazakhstan was accepted as 'EITI Compliant' by the Extractive Industries Transparency Initiative (EITI)

On October 17, 2013, Kazakhstan achieved a significant milestone by being accepted as 'EITI Compliant' by the Extractive Industries Transparency Initiative (EITI). This designation indicates that Kazakhstan has established a basic and functional framework for the regular disclosure of revenues generated from its natural resources. The EITI is a global standard aimed at promoting transparency and accountability in the extractive sector, which includes oil, gas, and mining industries. By becoming EITI Compliant, Kazakhstan demonstrates its commitment to enhancing governance and fostering public trust in how natural resource revenues are managed. This compliance not only helps in attracting foreign investment but also ensures that citizens are informed about how their country's wealth is being utilized. The EITI framework encourages countries to disclose information about their extractive industries, including how much revenue is generated and how it is spent, thereby promoting responsible management of natural resources. Kazakhstan's compliance with EITI standards is a step towards greater transparency and accountability in the management of its rich natural resources, ultimately benefiting its economy and society as a whole. #mooflife #mof #MomentOfLife #Eiti #Kazakhstan #Transparency #NaturalResources #Governance