31.08.2021

Kazakhstan provides special conditions for large investors

An "Investment Agreement" has been introduced in Kazakhstan, which provides for special conditions for investors implementing projects that are significant for the economy, the Ministry of Foreign Affairs of the republic stated.

The agreement is concluded by the state authorized legal entity registered under jurisdiction of the Astana AIFC following the decision of the government. The list of activities is also approved by the government.

The size of investments must be at least 7.5 million MCI (MCI is a monthly calculation index), which in 2021 was 21.9 billion tenge.

As a result of the agreement, the investor receives a number of tax benefits and preferences. The provisions of the agreement remain in effect for 25 years from the date of its conclusion in the event of a change in legislation.

The list has already included 36 projects.

Country investment programs for 2021-2025 have been developed. They include an analysis of bilateral trade and economic relations with a specific country, a map of implemented, ongoing and promising projects, a list of targeted companies and industries, as well as specific target indicators.

The Foreign Ministry noted that over the years of independence, Kazakhstan has attracted about 370 billion US dollars from over 120 countries of the world.

A pool of investment projects has also been formed, which consists of 480 projects with a total value of 71.9 billion US dollars with the creation of over 70 thousand jobs. Out of these, 128 projects (US $ 6.7 billion) have been implemented and are under post-investment monitoring, 98 projects (US $ 23.3 billion) are underway and 86 projects (US $ 19.5 billion) are under development. In addition, 168 investment proposals (niche projects) were prepared.

With the accompaniment of Kazakh Invest in 2020, 41 projects were implemented with the participation of foreign investors in the amount of USD 1.6 billion, for five months of 2021 - 11 projects worth USD 672 million. Also, by the end of the year, it is planned to commission facilities created within 34 projects worth about $ 4.1 billion.

In addition, by the end of 2021, it is planned to attract around US $ 19.1 billion of foreign investment and by 2025 this figure will be increased to US $ 30.4 billion. This will ensure investment in fixed assets at the level of 30% of GDP.

Region: Kazakhstan
Source: LS
Tags: deal
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