Investment contract concluded via elicense.kz portal for first time

As part of the large-scale work on public services digitalization, “Conclusion of an Investment Contract for the Implementation of an Investment Project Involving Investment and Provision of Investment Preferences” public service has been introduced online.

This allowed for the conclusion of an investment contract online via elicense.kz portal for the first time.  The contract was concluded jointly by Kaz Solar 50 and the German company Solarnet Investment GmbH, implementing a project in the renewable energy sector in the Karaganda region with a capacity of 26 MW worth over 5 billion tenge.

The creation of a technical opportunity for concluding investment contracts in an online format which entails a number of changes. Among them are a simplification of the application process and its coordination, the automation of licensing processes and permits which will ensure effective interaction between the state and the business community.

Additionally, the terms for the provision of services have been reduced: today it is 27 working days. The user interface is designed to consider the requirements for an automation of services and an ease of receipt and the minimization of the need for independent appeal to government agencies.

At the same time, the availability of such services and simplification of procedures will become another competitive advantage of Kazakhstan for investors.