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Purchase of lands plots to become available for FEZ residents in Kazakhstan

Finance Materials 5 September 2022 09:13
Baku, Azerbaijan Trend News Agency Nargiz Sadikhova
Purchase of lands plots to become available for FEZ residents in Kazakhstan

Kazakhstan is introducing the possibility of buying a land plot by the participants of free economic zones (FEZ), Minister of Industry and Infrastructural Development Uskenbayev Kairbek said during the government meeting, Trend reports.

In order to improve the efficiency of free economic zones in the Ministry of Industry and Infrastructural Development proposed to introduce the following new measures:

- The introduction of a differentiated approach to the provision of benefits. Incentives for FEZ participants will be differentiated depending on the investments they make, following the more investments - more benefits principle;

- The introduction of combined regime. For the projects on priority kinds of activity FEZ will be given privileges in the regime of FEZ, and the rest, who is planning to realize projects out of priorities - only land with infrastructure, as in industrial zones, without exemption from customs and tax privileges;

- opportunity to buy out a land plot

Currently, the opportunity is being introduced for FEZ participant to buy out a land plot after all their investment obligations have been fulfilled in good faith, namely, after commissioning production facilities and reaching a certain design capacity.

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