Interfax reported that Kazakhstan plans to boost capacity to process base metals. Kazakhstan’s Prime Minister Mr Alikhan Smailov held the fifth meeting of the Council of Domestic Entrepreneurs to discuss the urgent issues facing the mining and metals industry. Mr Smailov said that in order to increase the investment appeal of the mining and metal sector, the government resolved to exempt projects that would be starting commercial production after 31 December 2022 from paying mineral extraction tax for up to five years. He said “We will continue working together with businesses to support and develop the mining and metal industry and other sectors of the economy. The government is always open to dialogue and welcomes any proposals while maintaining the balance of interests of the government and business.” The government release said “In the coming years, the government will take steps to expand the mineral resource base, introduce a single online platform for mineral extraction companies, and increase the processing capacities to convert base metals into finished products.” The release said “Today the mining and metals industry contributes 8.5% of the national GDP. In 2022, the industry launched 19 new investment projects worth KZT 232 billion creating 3,500 permanent jobs. Over 11 months, output reached KZT 11.4 trillion, an increase of 17%. Investment in fixed assets amounted to more than Kazakhstan 1 trillion, an increase of 14.8%,” During the meeting, representatives of business and the expert community raised issues of investment attractiveness of the sector, taxation, digitalization, transport support, and new environmental requirements.
Interfax reported that Kazakhstan plans to boost capacity to process base metals. Kazakhstan’s Prime Minister Mr Alikhan Smailov held the fifth meeting of the Council of Domestic Entrepreneurs to discuss the urgent issues facing the mining and metals industry. Mr Smailov said that in order to increase the investment appeal of the mining and metal sector, the government resolved to exempt projects that would be starting commercial production after 31 December 2022 from paying mineral extraction tax for up to five years. He said “We will continue working together with businesses to support and develop the mining and metal industry and other sectors of the economy. The government is always open to dialogue and welcomes any proposals while maintaining the balance of interests of the government and business.” The government release said “In the coming years, the government will take steps to expand the mineral resource base, introduce a single online platform for mineral extraction companies, and increase the processing capacities to convert base metals into finished products.” The release said “Today the mining and metals industry contributes 8.5% of the national GDP. In 2022, the industry launched 19 new investment projects worth KZT 232 billion creating 3,500 permanent jobs. Over 11 months, output reached KZT 11.4 trillion, an increase of 17%. Investment in fixed assets amounted to more than Kazakhstan 1 trillion, an increase of 14.8%,” During the meeting, representatives of business and the expert community raised issues of investment attractiveness of the sector, taxation, digitalization, transport support, and new environmental requirements.
