Kazakhstan develops national plan to attract investment – Vice-Premier

October 3. Interfax-Kazakhstan. Astana

Kazakhstan develops national plan to attract investment - Vice-PremierBy 2015 Kazakhstan aims to achieve a 15% growth in direct investment in the processing industries by providing further tax incentives to major investors, Deputy Prime Minister – Minister of Industry and New Technology Aset Issekeshev.

“We must achieve a 15% increase in investment in the non-resource sector of the economy in 2014. To reach the target, starting from this year we must ensure a minimum yearly growth in investment in the processing sector of at least 4%,” he said presenting a draft national plan for attracting investment at a meeting of the economy modernization commission in Astana on Monday.

According to Issekeshev, the plan is based on “the experience of the competitor countries in attracting direct investment”. “We can see a necessity for a special support regime for major investors. The special regimes will be applied to strategically important investment projects. The list of benefits, to which the investor will be entitled, will be approved on a case-by-case basis by a government regulation,” Issekeshev noted.

The main condition for the granting of a special support regime will be the investment of over $50 million. The project should also correspond to the industrial and innovative development program requirements.

“The following support measures are proposed: exemption from the corporate income tax, land and property taxes, provision of a guaranteed government order and a number of subsidies allowed by our commitments under the Customs Union and WTO requirements,” the official said.

In his turn, Prime Minister Karim Massimov ordered the ministry to finish drafting the plan within two weeks and submit it for approval of the government.



Kazakh Internal Ministry to register foreign citizens online


Kanat Kulshmanov

The Kazakh Ministry of Internal Affairs plans to launch registration of foreign citizens in the on-line regime via the department’s web portal.

Vice Prime Minister-Minister of Industry and New Technologies Aset Issekeshev has announced at a session of the State Commission on Economic Modernization.

A.Issekeshev noted that it is necessary to simplify the procedure of registration of foreign citizens for attraction of foreign investors in Kazakhstan.

“There is a question of registration. Now foreign citizens should go to the migration service, and registration in hotels is possible only in Almaty,” A.Issekeshev said.

In this connection he proposed to launch a registration rate for foreign citizens in large hotels next year. “According to the Ministry’s information, it is planned to automatically register via the web portal,” he added.