‘Green corridor’ system to reduce investor application review period to 3 mths in Kazakhstan

A meeting of the Investment Promotion Council under the chairmanship of first deputy Prime Minister of Kazakhstan Roman Sklyar took place today, Kazinform News Agency cites primeminister.kz.

The criteria for inclusion of investment projects into the ‘green corridor’ system aimed at boosting transparency and simplifying investor-executive body interaction were discussed at the meeting.

Special attention was attached to the improvement of the system of the Agreement on investments, which aims to reduce the time of processing applications from 12 to three months and simplifying procedures promoting a more effective work in the area of investments.

The issue of investments in the road construction sector was discussed. In general, the measures approved at the investment staffs are to increase the competitiveness of the domestic companies and enable to engage them in realizing major road projects.

The meeting also focused on further promotion of energy utilization of solid household waste, regarded as one of the promising for attracting investments.

As part of the meeting, problematic issues of some investment projects in the field of pharmaceuticals and solid household waste were raised.

On regional level, the work of the administration of Karaganda region on investment promotion was considered. A pool of 50 investment projects with the creation of over 12 thousand workplaces has been established.

Following the meeting, the responsible government bodies were given instructions that are under special control of the Investment Promotion Council.