New amendments to the Government Resolution "On some issues of implementation of state support for investments"

In brief

The Prime Minister signed amendments to the Government Resolution “On some issues of implementation of state support for investments”, on significant expansion of opportunities for implementation of investment projects (“Resolution”).

In details

The Resolution, among other things, provides the following amendments:

The third part of the list of priority activities determined for the implementation of priority investment projects under an investment agreement concluded in accordance with Article 295-2 of the Entrepreneurial Code of the Republic of Kazakhstan has been excluded. 

However, investment agreement cannot be concluded for the implementation of below types of projects: 

1. activities related to drugs, psychotropic substances and precursors; 
2. production and (or) wholesale of excisable goods; 
3. conducting of lotteries; 
4. activities in gambling business; 
5. activities related to circulation of radioactive materials; 
6. banking activities (certain types of banking operations) and activities in the insurance market (excluding activities of an insurance agent); 
7. audit activity; 
8. professional activities in the securities market; 
9. activities in the field of digital mining; 
10. activity of credit bureaus; 
11. security activity; 
12. activities related to circulation of civil and service weapons and ammunition; 
13. activities in the sphere of subsoil use, including activities of prospectors; 
14. sale of minerals, including activity of traders, activity on sale of coal, oil.

Thus, the amendments to the Resolution expands the opportunities for many entrepreneurs and large companies in the launch and (or) modernization of various projects, as well as provide an opportunity for investors and companies to freely choose any direction for investments (except in the field of prohibited activities), by providing investment preferences, including tax incentives in the form of fixed tax rates for up to 10 years.

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