Alikhan Smailov holds meeting of State Commission for Modernization of Economy

The Prime Minister of Kazakhstan Alikhan Smailov held a meeting of the State Commission on Modernization of the Economy of Kazakhstan.

The meeting considered taxation norms, including in terms of applying the concept of "royalty" for tax purposes, determining the object of taxation on the property of energy-producing organizations, as well as the terms for applying the updated list of goods for which VAT is paid by the offset method.

Following the discussion, the Prime Minister instructed to further study the first two issues, taking into account the opinions of all interested parties and the possible impact on the socio-economic situation.

The meeting also considered a project for the construction of a plant for the production of soda ash in the Aral region of the Kyzylorda region.

Its implementation will attract about 140 billion tenge of investments, create more than 700 permanent jobs and ensure import substitution through the production of about 300 thousand tons of products per year.

The Prime Minister instructed to consider the possibility of financing the construction of the infrastructure necessary for the plant, as well as to continue the development of the project in terms of attracting investors.

In addition, the meeting participants discussed the construction of a multifunctional hotel and tourist complex in Aktau, which will attract 170 billion tenge of investment, create about 4,000 direct and indirect jobs, and increase the tourist flow to the Mangystau region up to 850 thousand people.

The Head of Government instructed to accelerate the implementation of the project and consider the possibility of allocating a budget loan to DBK JSC to complete the construction of all started facilities.

The meeting participants also considered the issue of creating a working group to develop recommendations on the issues of denationalization and privatization.

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