Kazakhstan creates favorable conditions for doing business - M. Pshembayev

"Additional measures of state support for investors, announced by our President Nursultan Nazarbayev at the 27th meeting of the Foreign Investors Council, stimulate both foreign and domestic business people to invest in manufacturing. Thus, the implementation of the second five-year-state program of forced industrial-innovative development will give a powerful impetus to the enhancement of industrial production in Kazakhstan", said M.Pshembayev. Additional measures of state support for investors, which have been voiced by the President, include exemption from corporate income and land taxes for 10 years and from property tax for 8 years. In addition, it is planned to input investment subsidies to ensure a stable legislation and predictable tariff and to simplify import of foreign labor. Furthermore, investors will be compensated 30% of the capital cost. Nevertheless, that package will be provided only for the new investment projects worth at least USD 20 million in the priority sectors of the economy in accordance with the program of industrial-innovative development.