Proposed legislative amendments aimed at improvement of investment climate to reach Kazakh Parliament this June

Astana. May 4. Silkroadnews - Proposed legislative amendments are aimed at improvement of Kazakhstan investment climate are to reach Parliament this June. This was reported by the Minister of Economy and Budget Planning Yerbolat Dosayev.
A comprehensive plan of measures to improve country’s investment climate is being drafted in Kazakhstan. It seeks to create favourable conditions for foreign investors.
Investors will have the opportunity to employ foreign labour for the entire period of the project implementation and for an additional year after the project has been completed and launched. This is to be done without any work permit quotas or limits.
Moreover, Kazakhstan is to unilaterally introduce 90-day visa-free regime for individuals coming from developed countries. New visas for investors and foreign business managers are to be given. Agricultural land are to be leased to foreigners for more extended periods. If they are investing in production of goods in the country, a 30% investment subsidy is to be received from the government once the project is launched. 10 years-long tax-holiday after the launch of the project is also among the benefits.
The newly established enterprises are not to be affected by the change in tax, environmental and immigration legislation for the first 10 years.