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  • First investment contract concluded in Kazakhstan via online portal
20 May, 2020 17:52

First investment contract concluded in Kazakhstan via online portal

As part of the large-scale work of converting public services to digital format, the provision of the public service “Conclusion of an investment contract for the implementation of an investment project involving investment and provision of investment preferences” has been introduced in the online format, Strategy2050.kz reports.

First investment contract concluded in Kazakhstan via online portal | Strategy2050.kz

As Head of State Kassym-Jomart Tokayev noted in his recent speech, communication between business and the state will completely switch to digital format and become contactless. For this, the Government will complete the digitization of the process of obtaining public services and support measures.

“Now, the automation of the public service “Concluding an investment contract for the implementation of an investment project providing for investments and provision of investment preferences” on the elicense.kz portal implemented by National Information Technologies jointly with the Ministry of Foreign Affairs of the Republic of Kazakhstan has become a new tool that allows optimizing business processes for investors. These types of contracts include: an investment contract for a full-scale grant and customs preferences, an investment priority contract with tax and customs benefits”, KAZAKH INVEST reports.

According to the developers of NIT JSC, development of a technical opportunity for concluding investment contracts in an online format entails a number of changes, including simplification of the application process and its approval, automation of licensing processes, permits, enabling effective interaction between the state and business community.

Along with this, the transfer of the service to the online format will minimize contacts between the authorized organization and an investor, which reduces time. In addition, the terms for the provision of services have been reduced up to 27 working days. The user interface is designed taking into account the requirements for automation of services - ease of receipt and minimization of the need for independent appeal to government agencies. As a result of interagency integration, automatic interaction is ensured between the State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan, the Ministry of Agriculture of the Republic of Kazakhstan, local executive bodies at the place of project implementation, etc.

At the same time, the availability of such services and simplification of procedures will become another competitive advantage of Kazakhstan for investors.

The first investment contract has already been concluded online through the elicense.kz portal. The contract was concluded between Kaz Solar 50, implementing a renewable energy project with a capacity of 26 MW in Karaganda region and the German company Solarnet Investment GmbH amounting to over 5 billion tenge.

chronicle 2050

SMEs will make up at least 50% of the GDP

abour productivity will reach up to $126 000 and 3 to 6 y.o. kids will have 100% access to pre-school education in Kazakhstan.

Kazakhstan will fully satisfy its own market of POL in compliance with the new environmental standards

The share of non-primary exports in total exports will double and triple by 2040

Transition to Latin graphics will commence

95% of the population will speak Kazakh

15% of the area under cultivation will make use of water-saving technologies.

The issue of providing water for irrigation will be resolve

GDP per capita will stand at $60 000

The urban population will represent 70% of the total population in Kazakhstan