Discover Qazaqstan via News and Inspiring Stories
QazMonitor Logo
Facebook Qazmonitor iconInstagram Qazmonitor iconTiktok Qazmonitor iconTwitter Qazmonitor iconTelegram Qazmonitor iconYoutube Qazmonitor icon
  1. Main Page
  2. News
  3. New Law to Oblige Subsoil Users in Kazakhstan to Invest in Science
Astana, Kazakhstan • 17 April, 2023 | 15:05

New Law to Oblige Subsoil Users in Kazakhstan to Invest in Science

President Tokayev called for the development of a law on endowment funds

QazMonitor Logo
Unsplash/Julia Koblitz
Unsplash/Julia Koblitz

President Kassym-Jomart Tokayev announced that subsoil users in Kazakhstan might be obliged to invest in science, QazMonitor reports.

"It is expedient to develop a law on endowment funds in order to ensure sustainable financing of universities. Particular attention should be paid to increasing science funding from all sources, including mandatory investments by subsoil users in Research and Development amounting to 1% of capital investments," said President Tokayev at the first meeting of the National Science and Technology Council.

Akorda
Akorda

It is essential to continue to centralize the expenses of the operating companies. It is extremely important these funds are not perceived to be another tax.

President of Kazakhstan Kassym-Jomart Tokayev

The Head of State noted that it is required to make R&D procedures open, competitive, and accessible to universities and research institutes. The whole process should be accompanied by state scientific technical expertise and councils.

Only 30% of an article published on The Qazaqstan Monitor website may be used with a mandatory hyperlink provided to indicate the original source. To re-publish the full article, written permission from the editorial is required.