( Interfax ) - Kazakhstan's Prime Minister Karim Masimov demanded the Ministry of Economy to submit the state program on 30 Kazakhstan's Corporate Leaders on Friday for the president to start considering it soon after October 16."One of the program's important principle is to ensure an equal access of all potential participants: so we welcome both foreign and domestic companies to take part in it," Minister of Economy and Budget Planning Bakhyt Sultanov said at the government meeting on Tuesday.
The Prime Minister highlighted that the key requirement for foreign companies to join the program is "to create a resident in the republic to have a center of revenues in Kazakhstan."
Sultanov said that the program has two stages: from 2007 to 2010, when 97 approved projects will be implemented, while at the second stage from 2008 to 2030, a more thorough market study will be done to define the most promising industries and products to enjoy the support of the state program, he said.
According to Masimov, a state interest in those breakthrough porjetc is 25% plus 1 share.
One of the key criteria for the projects is that at least 30% of the output should be intended for export.
The program is aimed at modernization of the economy through participation of domestic businesses and promotion of domestic competitive products to the world market.
The state committee has already reviewed about 300 projects and approved 97 to the amount of USD60 billion.