Kazakhstan to adopt a draft legislative amendments simplifying attracting investment in exploration

ATYRAU. KAZINFORM - Kazakhstan Law "On subsoil and subsoil use" will have a number of amendments facilitating attraction of direct investments in exploration, this has been informed by the chairman of Geology and Mining Committee under the Ministry of Industry and New Technologies Bazarbay Nurabayev.
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"On the instruction of the Kazakh President there will be simplified the procedure for granting rights for exploration. There have been already adopted a resolution of the Government providing short-cut calculation of the cost of geological information on bonitet valuation system. Geo-portal of the Central Asian countries was established. Majilis introduced a bill that provides 7 conceptual, 115 system, and 67 editorial amendments to the existing Law "On subsoil and subsoil use", said B.Nurabayev. According to the developers of the new concept of the Code on the subsoil, it will attract direct investment in exploration, introduce the latest international standards, and increase the competitiveness of Kazakhstan in the field of geology and mineral resources.

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