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The first investment contract has been concluded in Kazakhstan via online portal elicense.kz

The first investment contract has been concluded in Kazakhstan via online portal elicense.kz

As part of the large-scale work of converting public services to digital format, the provision of the public service “Conclusion of an investment contract for the implementation of an investment project involving investment and provision of investment preferences” has been introduced in the online format.

As the head of the state Kassym-Zhomart Tokayev noted in his recent speech, communication between business and the state will completely switch to digital format and become contactless. For this, the Government will complete the digitization of the process of obtaining public services and support measures. 

Now, the automation of the public service “Concluding an investment contract for the implementation of an investment project providing for investments and provision of investment preferences” on the elicense.kz portal implemented by National Information Technologies jointly with the Ministry of Foreign Affairs of the Republic of Kazakhstan has become a new tool that allows 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.

According to the developers of «NIT» JSC, development of a technical opportunity for concluding investment contracts in an online format entails a number of changes, including simplification of the application process and its approval, automation of licensing processes, permits, enabling effective interaction between the state and business community.

Along with this, the transfer of the service to the online format will minimize contacts between the authorized organization and an investor, which reduces time. In addition, the terms for the provision of services have been reduced up to 27 working days. The user interface is designed taking into account the requirements for automation of services - ease of receipt and minimization of the need for independent appeal to government agencies. As a result of interagency integration, 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 bodies at the place of project implementation, etc.
At the same time, the availability of such services and simplification of procedures will become another competitive advantage of Kazakhstan for investors.

The first investment contract has already been concluded online through the elicense.kz portal. The contract was concluded between Kaz Solar 50, implementing a renewable energy project  with a capacity of 26 MW in Karaganda region and the German company Solarnet Investment GmbH amounting to over 5 billion tenge.

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