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First investment contract concluded in Kazakhstan via the portal elicense.kz

As part of the large-scale work of converting public services to a digital format, the provision of the public service “Concluding an investment contract to implement an investment project ensuring investments and investment preferences” has been introduced in the online format.

As the Head of State Kassym-Jomart Tokayev stressed in his recent speech, communication between business and the state will completely switch to digital format and become contactless - for this purpose, the digitization of the process of obtaining public services and support measures will be completed. Thus, the automation of the public service “Concluding an investment contract to implement an investment project ensuring investments and investment preferences” on the elicense.kz portal implemented by the National Information Technologies JSC jointly with the Ministry of Foreign Affairs of the Republic of Kazakhstan has become a new tool aiming at optimizing business processes for investors. These types of contracts include: an investment contract for a full-scale grant and customs preferences, an investment priority contract with tax and customs benefits.

The developers of NIT JSC note that creating a technical opportunity for concluding investment contracts in an online format entails a number of changes. Among them, simplification of application procedures and their coordination, automation of licensing processes, permits to ensure effective interaction between the state and the business community.

Along with this, the transfer of the service to the online format will minimize contacts between the authorized agency and an investor, which reduces time. Additionally, the terms for the provision of services have been reduced: for today it is 27 working days. The user interface is designed taking into account the requirements for automation of services – it is easy to obtain with minimizing need for independent appeal to government agencies. As a result of interdepartmental integration, the automatic interaction is ensured between the State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan, the Ministry of Agriculture of the Republic of Kazakhstan, local executive agencies at the place of project implementation, etc.

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

Regarding the first investment contract concluded online via the elicense.kz portal: the contract has been concluded with Kaz Solar 50, which is implementing a project in the field of renewable energy in the territory of Karaganda region, with a capacity of 26 MW, and the German company Solarnet Investment GmbH worth over KZT5 billion.