Kazakhstan to introduce strategic investment agreements
BAKU, Azerbaijan, Sept. 1
By Nargiz Sadikhova - Trend:
Kazakhstan’s government will identify country’s strategically important production facilities, key export priorities, and significantly expand support measures, Trend reports with reference to the press office of Kazakhstan’s president.
The corresponding order to the government was given by Kazakhstan’s President Kassym Jomart Tokayev during his speech on Sept. 1, 2020.
Tokayev noted that package provision of grants-in-kind, concessional financing, partial guarantees, and export support mechanisms should be envisaged for projects of strategic impotance.
“Some of the capital expenditures of investors can be recovered by offsetting against tax liabilities. It is important to provide for guaranteed procurement from the state, quasi-state sectors and subsoil users,” Tokayev said.
He added that in order to set the agreements between the state and investors, a new instrument - a strategic investment agreement - will be introduced.
“This initiative should be implemented by the end of the year under the draft law on economic recovery. The pool of projects that will be included in strategic agreements will be formed by the Government by April 2021,” Tokayev said.
The issue of processing enterprises’ access to domestic raw materials at affordable prices requires solution systemic solution, Tokayev said.
“I instruct the government to develop regulatory mechanisms to ensure full loading of Kazakh manufacturing industries with raw materials by the end of the year,” the president said.
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