Kazakh Investment and Development Ministry proposes to simplify order of receiving land plots for SEZs - News | BNews

Kazakh Investment and Development Ministry proposes to simplify order of receiving land plots for SEZs

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07 November, 2018, 15:26 210
Kazakh Investment and Development Ministry proposes to simplify order of receiving land plots for SEZs

The deputies have passed the draft law of the Republic of Kazakhstan 'On special economic and industrial zones' in the first reading. 

 

A new mechanism of the allocation of land plats by managing companies to participants of economic zones and industrial zones is planned to be introduced in Kazakhstan, Kazakh Minister for Investments and Development Zhenis Kassymbek, Bnews.kz correspondent reports. 

According to Zhenis Kassymbek, the draft law 'On special economic and industrial zones' is developed with the aim to improve legislation in the regulation of special economic zones, as well as legal regulation of activities of industrial zones. 

Presenting the draft law, the Minister noted that a new mechanism to allocate land plots by managing companies to participants of special economic zones and industrial zones is being introduced. 

"As of today, in accordance with the norms of the current legislation, there is a complex process to get land plots taking averagely 6-9 months. Because of this, the terms to bring projects into use delay, and investors ace extra time costs and follow-up material costs. In addition, the regulation of land relations provided set forth in the Law 'On special economic zones in the Republic of Kazakhstan' and the Land Code is quite complex and is characterized numerous framework rules between the legislative acts," said the Minister. 

To deal with this situation, according to Kassymbek, the draft law provides for amendments aimed at reducing the order of receiving land plots with shorter and minimum amounts of procedures for participants. 

"In particular, the state-owned land plots where special economic zones are being created will be provided for temporary refundable land use to a managing company of the special economic zone until the creation of the special economic zone, and the private land plots will be provided for use to a managing company of the special economic zone in accordance with a temporary use agreement (rent). In turn, the managing company will segment and transfer these land plots to the SEZ participants. Thus, within the legislative power and state of a special economic zone's managing companies are intensified, as well as the competence of the authorized body in terms of developing and approving laws and regulations," said the head of the Ministry for Investments and Development of Kazakhstan. 

He added that this measure will enable to simplify the order of getting land plots and other authorization documents, as well as it will eliminate a direct contact of the special economic zone's participants with a local executive body. 

Note the same mechanism is allied for industrial zones. 

The draft law has been approved by the Mazhilis deputies in the first reading.