Kazakhstan takes series of measures to improve investment climate

ASTANA (CIHAN)- The Kazakh government has taken a series of measures to improve the investment climate in the country, the Kazakh Minister of economy and budget planning, Erbolat Dossaev said.

“Among the measures aimed at improving the investment climate, the government introduced subsidies for the cost of energy and transportation on product delivery,” he said at a press-conference in Astana.

He also noted important provision of rights of investors to attract a foreign labor force for the all implementation period of the investment project and a year after the commissioning, out of the quota and no permits for this foreign labor force.

“It is also proposed to introduce the following additional measures to improve the investment climate. This is the establishment of unilaterally visa-free requirements for citizens of most developed countries with the period of stay of 90 days for the countries of the Organization for Economic Cooperation and Development. The provision of investor visas to the heads of structural departments of foreign companies,” the minister said.

Dossaev also noted that the lease term will be increased on agricultural land for foreigners making investments in the commodity agricultural production.

“Well, we’ve already talked about introduction of an institution for the protection of investors’ rights on the “investment ombudsman” principle,” he said. (CihanXinhua )