About the activities of the Regional Coordinating Council for Attracting Investments to the Mangystau region
One of the important measures of state support is the provision of investment preferences, which, in accordance with the Entrepreneurial Code of the Republic of Kazakhstan, have the following types: exemption from customs duties, exemption from value added tax on imports of raw materials and (or) materials, a state in-kind grant.
For reference.
State in-kind grants are property owned by the Republic of Kazakhstan, transferred for temporary gratuitous use or provided on the right of temporary gratuitous land use to a legal entity of the Republic of Kazakhstan for the implementation of an investment project with subsequent gratuitous transfer to ownership or land use.
The Rules for accepting, registering and reviewing applications for investment preferences were approved by the Order of the acting Minister for Investment and development of the Republic of Kazakhstan dated December 30, 2015 No. 1281, according to which an investor can conclude an investment contract online. In order to conclude an investment contract, the service recipient submits an application for the provision of investment preferences in an approved form.
The application with the appendix is sent to the Investment committee of the Ministry of foreign affairs of the Republic of Kazakhstan, as an authorized body that is working on the service together with interested state bodies.
In accordance with paragraph 2 of Article 288 of the Entrepreneurial code of the Republic of Kazakhstan, state in-kind grants are provided by the authorized body for investments in coordination with the authorized body for state property management and (or) the central authorized body for land management, and also by local executive bodies for temporary gratuitous use or on the right of temporary gratuitous land use with subsequent gratuitous transfer to ownership or land use in case of fulfillment of investment obligations in accordance with the investment contract.
In turn, the Akimat of the Mangystau region considers the announced projects at meetings of the Regional coordinating council for attracting investments to the Mangystau Region (hereinafter – the RCC).
The RCC is a consultative and advisory body under the Akimat of the Mangystau region, and was formed in order to develop recommendations for sustainable and balanced economic growth and increase the competitiveness of the Mangystau region.
Applications of legal entities for consideration of projects at the meeting of the RCC are accepted on an ongoing basis by the working body of the RCC – the Department of industrial and innovative development of the Mangystau region, which forms the agenda.
Meetings of the RCC are held as necessary.
The decisions of the RCC are advisory in nature and are adopted by open vote and are considered adopted if a majority of votes from the total number of members of the RCC are cast for them.
After the RCC meeting, the minutes of the RCC meeting are drawn up.
If there are comments on the draft following the results of the RCC meeting, the draft is sent for revision. The draft is re-submitted for consideration at the RCC meeting after all comments on the draft have been eliminated.
If the project is approved, the Akimat of Mangystau region coordinates the provision of land plots in the form of in-kind grants for the conclusion of an investment contract with the Investment committee of the Ministry of foreign affairs of the Republic of Kazakhstan.
For reference.
During the 1-2 quarter of 2023, no meetings of the RCC were held.