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Astana, Kazakhstan • 13 January, 2023 | 17:26
1 min read

Kazakhstan Intends to Reduce Investment Threshold for State Support Eligibility

The volume of investments in fixed assets amounted to about 15 trillion tenge

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primeminister.kz

Economic Policy Council discussed proposals on strengthening the investment block at a meeting chaired by Prime Minister Alikhan Smailov, QazMonitor reports citing the PM’s press service.

Minister of National Economy Alibek Kuantyrov said that at the end of 2022, the volume of investments in fixed assets amounted to about 15 trillion tenge, which is nearly 94% of the plan.

According to him, there is a gradual recovery of investment activity despite the wait-and-see attitude, which investors often take due to the current foreign economic situation. At the same time, there is a trend of growth of foreign direct investment in the non-resource sector of the country.

In order to further improve the investment climate, it is proposed to implement a number of comprehensive measures:

  • reduce the period of approval by state agencies for investors' applications for preferences;

  • reduce the threshold volume of investment for obtaining state support benefits.

Prime Minister supported these approaches, noting the need to thoroughly elaborate a list of priority areas for which preferences will be provided, and consider all regional characteristics when approving new rules.

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