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Industrial zones SEZ, SCC

Overview of Special Economic Zones, Industrial Estates and Socio-Commercial Corporations in the Republic of Kazakhstan

Special Economic Zone (hereinafter, SEZ) is a limited area in the Republic of Kazakhstan with special legal status. SEZs are generally formed with the objective of expediting the development of a particular region, promoting one or several industries employing innovative technologies, setting up highly efficient export-oriented enterprises, launching the manufacture of novel products, attracting capital investment, trying out a regulatory framework of market relations, introducing advanced management techniques and business practices, as well as addressing social problems.

All major aspects concerning the founding, functioning and liquidation of SEZs are governed by the following statutory regulations:

1) Law of the Republic of Kazakhstan of June 6, 2007, ¹274 On Special Economic Zones,

2) Code of Laws of the Republic of Kazakhstan On Taxes and Other Mandatory Fiscal Charges (Tax Code) (Section 22.1);

3) Customs Code of the Republic of Kazakhstan of April 5, 2003, ¹401 (Section 30).

 

Existing Special Economic Zones

There are presently four Special Economic Zones operating in the Republic of Kazakhstan by Decree of the President of the Republic of Kazakhstan: SEZ Astana — New City in Astana, SEZ Alatau IT Park in Almaty, SEZ Aktau Sea Port in Mangistau Region, and SEZ Ontustik in South Kazakhstan Region.

SEZs Astana — New City and Aktau Sea Port were established through the implementation of Territorial Development Programs, while SEZs IT Park and Ontustik were set up within the framework of the Industrial Innovation Development Strategy.

SEZ Astana — New City

Objectives: accelerating development on the left bank of the Ishim River in Astana through attracting investments and employing advanced construction technologies, as well as modern infrastructure development.

Projects. A total of 207 units have been registered in the SEZ since it began operations; of these, 100 projects have been formally commissioned by Working and Public Acceptance Committees, including 47 utility and transport infrastructure units, 19 administrative buildings, 15 communal and social welfare facilities and 19 residential buildings, which accounts for 48.3 per cent of the total number of projects.

The total amount of investment attracted to SEZ Astana — New City over the period 2001-2007 amounts to 417.4 billion tenge.



SEZ Aktau Sea Port

Objectives: maintaining a high pace of economic development in the SEZ in order to stimulate the integration of Kazakhstan national economy into the global market network, setting up highly efficient enterprises, including high-tech and export-oriented companies, launching the manufacture of novel products, attracting capital investments, developing a regulatory framework of market relations, introducing advanced management techniques and business practices, as well as addressing social problems.

The major participants of SEZ Aktau Sea Port are: RGP Aktau International Commercial Sea Port (RGP AMMTP), Marine Structural Steel Manufacturing Plant (TOO Keppel Kazakhstan), Fiberglass Pipe Manufacturing Plant (TOO AZST), Oilfield Tubular Goods Manufacturing Plant (AO Nefte-GazTruba).

SEZ IT Park

Objectives: promoting the development of the IT sector, stimulating the integration of Kazakhstan national economy into the global market economy system, setting up highly efficient enterprises, including high-tech and export-oriented developers of state-of-the-art information technologies, launching new IT products, and attracting capital investments.

Units comprising the first phase of SEZ IT Park were commissioned in August 2006.

There are presently 27 companies based within the boundaries of SEZ IT Park that meet the SEZ objectives. There is one enterprise engaged in production activities where the computer software package ÀLFEM 1.1 for Windows has been created.



Following are the major activities based in the territory of SEZ IT Park:

1) Organization of modern SEZ infrastructure, including the development of business plans and cost estimate documents, building and installation work, site improvement and landscaping activities.

2) Training and retraining of highly qualified specialists holding international certificates in the field of information technologies.

3) Design, development, implementation, pilot and commercial production of computer software and databases for the following applications:

Translation and adaptation of software products from the leading software manufacturers into the national language,

Development of mathematical process models for strategically important sectors.

Information telecommunication systems and data exchange networks, Intranet-Internet systems in key sectors,

Information security systems,

Automated process control systems for industrial applications.

4) Design, development, implementation, pilot and commercial production of IT hardware products for the following applications:

Innovative technologies in the field of mobile communication systems based on GPS (global position system), GPNS (global position navigation system) and other systems,

Information security at the data storage, processing and transmission levels,

Information telecommunication systems and data transfer networks, hardware components,

Remote land sensing systems.

5) Development of new information technologies based on artificial immune and neural systems.

6) Marketing research in the field of information technologies.

7) Research and development efforts aimed at initiating and implementing IT projects.

8) Manufacture of text-processing, copying, addressing machines, calculators, cash registers, marking and ticketing machines and other office machinery and equipment, computers and other data processing equipment.

9) Manufacture of electrical and radio components, sound and image transmitting, receiving, recording and displaying equipment,

10) Manufacture of domestic electrical appliances.

The regulatory framework required for making SEZ IT Park fully functional comprises the following:

SEZ IT Park Development Strategy and Master Plan prepared by JURONG Consultants Pte Ltd. was approved by Order of the Ministry of Industry and Trade of the Republic of Kazakhstan of June 6, 2005, ¹203.

Business Regulations on the Premises of SEZ IT Park and Procedures for Company Registration as a Participant of SEZ IT Park were approved by Order of the Minister of Industry and Trade of the Republic of Kazakhstan of February 24, 2006, ¹68. The Order was registered with the State Registrar of Statutory Regulations under ¹4127 on March 20, 2006. These regulations cover the full range of the procedures involved, from filing an IT Park participant application form to project implementation.
 

Schedule of Goods, Labor and Services by Kinds of Activities Meeting the Objectives of SEZ IT Park was approved by Resolution of the Government of the Republic of Kazakhstan of May 17, 2006, ¹415.

Itemized List of Goods Required to Meet the Objectives of SEZ IT Park was approved by the Resolution of the Government of the Republic of Kazakhstan of July 18, 2005, ¹737. Additional items required for implementation of projects on the territory of SEZ IT Park were incorporated in the List of Goods by Resolution of the Government of the Republic of Kazakhstan of August 3, 2006, ¹734.

List of Goods Supplied to the Territory of SEZ IT Park and Intended for Consumption in the Course of Activities Taking Place on the Territory of the Special Economic Zone Which Proceeds Are Exempted from Value-Added Tax, was approved by Resolution of the Government of the Republic of Kazakhstan of September 20, 2006, ¹889.

Regulations on the Issue of Verification Certificates to the Participants of SEZ IT Park were approved by Order of the Minister of Industry and Trade of the Republic of Kazakhstan on November 13, 2006, ¹303. The Order is presently undergoing registration procedures at the Ministry of Justice.

Detailed information about SEZ IT Park can be found on its official web site www.aitc.kz

 

SEZ Ontustik



Objectives: promoting development of the textile industry, in particular the production of readymade garments, stimulating the integration of Kazakhstan national economy into the global market economy system, encouraging international trademark owners to set up manufacturing of readymade textiles in Kazakhstan, setting up high-tech manufacturing facilities, and expanding the range of produced textile goods.

Operations in the SEZ are intended to meet the needs of the growing domestic textile consumer market and provide export-oriented production with the following primary specialization of the manufacturers involved:

 Production of cotton thread and all kinds of yarn

 Weaving industry

 Dyeing and finishing

 Production of finished textile goods

 Knitwear and hosiery production

 Production of knitted pullovers, cardigans and other similar garments

 Production of work clothes

 Production of outdoor clothing

 Production of underwear

 Manufacture of other garments and accessories.

 Various activities focused on the development of industrial infrastructure in SEZ Ontustik.

As of June 1, 2007, there were three investment projects approved for implementation on the territory of the SEZ: TOO Khlopkoprom-celluloza, TOO KazDemirTextile, TOO Beybars K, for a total amount of more than USD 200 million.

A list of goods and services for the period of construction and principal operations has been prepared in accordance with the EEC Commodity Coding System and approved by Resolution of the RK Government ¹1151 of 22.11.2005.

An official web site featuring advertising information about Kazakhstan, South Kazakhstan Region and the SEZ, and proposals for cooperation is registered at  www.textilezone.kz

 

Prospective Special Economic Zones

In order to establish a suitable environment for the implementation of  "breakthrough macroprojects", which would produce multiplicative effects and stimulate the development of Kazakhstan national economy, the Ministry of Industry and Trade of the Republic of Kazakhstan is making joint efforts with the concerned government bodies and regional assemblies for the establishment and development of the following new SEZs: Dostyk, Khorgos Eastern Gateway, Western Gateway, Tobyl, Burabay, and National Petrochemical Industrial Park.



Special legal status of SEZ areas

Special legal status is implemented for a period determined by Decree of the President of the Republic of Kazakhstan on the founding of the respective SEZ and incorporates the following provisions:

1) Procedures for the entry, exit, transit and stay of foreign nationals and stateless persons, as well as the vehicles of such persons, established by the Laws of the Republic of Kazakhstan and international agreements to which the Republic of Kazakhstan is a party.

2) The status of customs free zone, i.e., customs regulations allowing storage and use of foreign and domestic goods within the boundaries of SEZ without the imposition of customs duties or taxes, except for excise duties on imported goods, and without application of non-tariff regulations, except for product safety requirements.

3) Special tax treatment provisions.

Tax treatment provisions on the territory of an SEZ include the following:

Exemption from corporate income tax.

Application of zero tax rate for the purpose of land tax assessment.

Application of zero rate on the annual average value of taxable items for the purpose of property tax assessment.

Exemption from value-added tax in respect of all revenues arising on the territory of SEZ from sales of goods, labor and services produced and consumed in the course of activities conforming to the objectives of the SEZ.

Exemption from value-added tax in respect of construction projects and building and installation work in administrative and industrial facilities (office, plant and storage buildings) that are intended for use in activities conforming to the objectives of the SEZ.

For this purpose, companies operating in the territory of SEZ shall be understood as legal entities meeting all of the following conditions:

be duly registered with the tax authorities on the territory of the SEZ,

have no subdivisions located outside the boundaries of the SEZ,

have not less than 90 percent of aggregate yearly revenue formed by earnings received (or receivable) from sales of goods (labor, services) of its own manufacture through activities conforming to the objectives of the SEZ and classified by the Tax Code of the Republic of Kazakhstan pursuant to the Decree of the President of the Republic of Kazakhstan on the founding of the SEZ.

The listed tax preferences considerably decrease project construction costs.

 

Industrial estates in the Republic of Kazakhstan

 

General provisions concerning the operation of industrial estates are stipulated in the Law of the Republic of Kazakhstan of January 31, 2006, ¹124 On Private Enterprises, and Resolution of the Government of the Republic of Kazakhstan of November 21, 2006, ¹1098 On the Concept of Industrial Estates.



An industrial estate is a plot of non-agricultural land furnished with the necessary services and utilities, which is granted by the government to private entrepreneurs for the purposes of setting up and operating industrial facilities following the procedures established by the Land Code of the Republic of Kazakhstan and other legislation existing in the Republic of Kazakhstan.

The key concept for the use of industrial estates as a part of infrastructure is to create favorable conditions for the establishment of new industrial facilities in the respective region. Attractiveness for investors arises from the concentration of industries sharing the same orientation (cluster effect), costs saved on infrastructure development (scale advantage), and shorter plant commissioning periods (site readiness), which eventually leads to the reduction of project implementation costs.

Specialization for each industrial estate is determined from the identified objectives:

1. Development of particular industry sectors.

2. Development of a particular region.

3. Development of business activities around major cities or large industrial enterprises.

Therefore, industrial estates should preferably be set up in locations where a high level of business activity exists, facing constraints caused mainly by the shortage or high price of land, complicated technical specification procedures, etc.

Infrastructure resources are understood as a system of facilities intended to meet the requirements of all parties operating in the industrial estate for heat, electric power and water supplies, sewage, transport and communication lines and other services that are essential for the implementation of commercial activities (offices, store premises, public services and catering facilities, hotels and dormitories, vocational training institutions).

During the sustained functioning phase, industrial estates require no extra funding and can normally be maintained out of the income arising from the lease of land plots, offices, stores and rendering of other associated services. The principal duty of an industrial estate managing company at this stage is to pursue cost-effective commercial activities aimed at:

properly maintaining the assets and infrastructure,

accommodating a maximum number of enterprises and signing appropriate agreements with the parties involved,

providing public utilities and associated services to the parties,

managing incomes from the rent and conducting further development of the estate.

The Ministry, along with the concerned government bodies and regional assemblies, is presently finalizing the list of industrial estates to be founded with the government assistance in 2007-2009.

 

Socio-commercial corporations

Pursuant to the Territorial Development Strategy of the Republic of Kazakhstan to 2015, the Government of the Republic of Kazakhstan approved by Resolution of May 31, 2006, ¹483, Concept for the Founding of Regional Socio-commercial Corporations (SCC), the primary objective of which is to encourage economic development in the countrys regions through consolidation of the public and private sectors and building a single economic market based on the cluster approach.

A draft law On Socio-commercial Corporationshas been developed to provide a sound regulatory basis for the operation of socio-commercial corporations in order to promote public-private partnership in the Republic of Kazakhstan, which would encourage social and economic development of the countrys regions and attract both foreign and domestic investors to Kazakhstan industrial sector. The draft law is presently undergoing approval with the concerned government bodies.

Operations of SCCs will be primarily focused on encouraging private businesses through the implementation of joint projects within the framework of public-private partnership agreements. SCCs will promote further growth of competition and entrepreneurship and provide institutional infrastructure to support small business entities.

In his Decree On the Measures for Establishing and Supporting the Activities of Socio-Commercial Corporations of January 13, 2007, ¹274, the President of the Republic of Kazakhstan directed that a joint-stock company, National Company "Socio-commercial Corporation (NC SCC) Sary Arka”, be founded as a pilot project. JSC NC SCC Sary Arka is operating in Akmola and Karaganda regions and in Astana.

The strategic objective of JSC NC SCC Sary Arka is to provide more efficient management of state-owned assets through the financing of cost-recoverable and economically feasible investment projects involving expansion, modernization and refurbishment of existing manufacturing enterprises, as well as launching new enterprises for the production of goods and services, as well as mining and processing of mineral resources.

The first priority in the implementation of investment projects by JSC NC SCC Sary Arka is the development of civil engineering infrastructure for industrial estates envisaged in the scope of the Industrial Innovation Development Strategy of the Republic of Kazakhstan for 2003-2015, approved by Decree of the President of the Republic of Kazakhstan of May 17, 2003, ¹1096.

Pursuant to Decree of the President of the Republic of Kazakhstan of April 20, 2007, ¹320, the following joint-stock companies have been founded by Resolution of the Government of the Republic of Kazakhstan of May 11, 2007, ¹376:

National Company "Socio-commercial Corporation Ertis" operating in East Kazakhstan and Pavlodar regions with a head office in Semey, National Company "Socio-commercial Corporation Ontustik" operating in South Kazakhstan, Zhambyl and Kyzylorda regions with a head office in Shymkent, National Company "Socio-commercial Corporation Zhetisu" operating in Almaty Region and the city of Almaty with a head office in Taldykorgan.

Another three socio-commercial corporations have been founded by Resolution of the Government of the Republic of Kazakhstan of September 18, 2007, ¹818, On the Provisions for Implementing Decree of the President of the Republic of Kazakhstan of September 17, 2007, ¹407:

joint-stock companies National Company "Socio-commercial Corporation Kaspiy" operating in Atyrau and Mangistau regions with a head office in Aktau, National Company “Socio-commercial Corporation Tobol” operating in North Kazakhstan and Kostanay regions with a head office in Kostanay, National Company “Socio-commercial Corporation Batys" operating in Aktobe and West Kazakhstan regions with a head office in Aktobe.

The principal feature distinguishing an SCC from a commercial corporation, as explained in the President Message to the People of Kazakhstan, is that the earned profits and dividends will be reinvested in order to meet the social, economic or cultural needs of the population of the respective region for which benefit the SCC are being established. The profits secured by SCCs will be thus directed towards the implementation of social programs, investment and innovation projects, setting up new industrial facilities and addressing environmental problems in the respective regions.

Special Economic Zone (hereinafter, SEZ) is a limited area in the Republic of Kazakhstan with special legal status. SEZs are generally formed with the objective of expediting the development of a particular region, promoting one or several industries employing innovative technologies, setting up highly efficient export-oriented enterprises, launching the manufacture of novel products, attracting capital investment, trying out a regulatory framework of market relations, introducing advanced management techniques and business practices, as well as addressing social problems.

All major aspects concerning the founding, functioning and liquidation of SEZs are governed by the following statutory regulations:

1) Law of the Republic of Kazakhstan of June 6, 2007, ¹274 On Special Economic Zones,

2) Code of Laws of the Republic of Kazakhstan On Taxes and Other Mandatory Fiscal Charges (Tax Code) (Section 22.1);

3) Customs Code of the Republic of Kazakhstan of April 5, 2003, ¹401 (Section 30).

 

Existing Special Economic Zones

There are presently four Special Economic Zones operating in the Republic of Kazakhstan by Decree of the President of the Republic of Kazakhstan: SEZ Astana — New City in Astana, SEZ Alatau IT Park in Almaty, SEZ Aktau Sea Port in Mangistau Region, and SEZ Ontustik in South Kazakhstan Region.

SEZs Astana — New City and Aktau Sea Port were established through the implementation of Territorial Development Programs, while SEZs IT Park and Ontustik were set up within the framework of the Industrial Innovation Development Strategy.

SEZ Astana — New City

Objectives: accelerating development on the left bank of the Ishim River in Astana through attracting investments and employing advanced construction technologies, as well as modern infrastructure development.

Projects. A total of 207 units have been registered in the SEZ since it began operations; of these, 100 projects have been formally commissioned by Working and Public Acceptance Committees, including 47 utility and transport infrastructure units, 19 administrative buildings, 15 communal and social welfare facilities and 19 residential buildings, which accounts for 48.3 per cent of the total number of projects.

The total amount of investment attracted to SEZ Astana — New City over the period 2001-2007 amounts to 417.4 billion tenge.

 

SEZ Aktau Sea Port

Objectives: maintaining a high pace of economic development in the SEZ in order to stimulate the integration of Kazakhstan national economy into the global market network, setting up highly efficient enterprises, including high-tech and export-oriented companies, launching the manufacture of novel products, attracting capital investments, developing a regulatory framework of market relations, introducing advanced management techniques and business practices, as well as addressing social problems.

The major participants of SEZ Aktau Sea Port are: RGP Aktau International Commercial Sea Port (RGP AMMTP), Marine Structural Steel Manufacturing Plant (TOO Keppel Kazakhstan), Fiberglass Pipe Manufacturing Plant (TOO AZST), Oilfield Tubular Goods Manufacturing Plant (AO Nefte-GazTruba).

SEZ IT Park

Objectives: promoting the development of the IT sector, stimulating the integration of Kazakhstan national economy into the global market economy system, setting up highly efficient enterprises, including high-tech and export-oriented developers of state-of-the-art information technologies, launching new IT products, and attracting capital investments.

Units comprising the first phase of SEZ IT Park were commissioned in August 2006.

There are presently 27 companies based within the boundaries of SEZ IT Park that meet the SEZ objectives. There is one enterprise engaged in production activities where the computer software package ÀLFEM 1.1 for Windows has been created.



Following are the major activities based in the territory of SEZ IT Park:

1) Organization of modern SEZ infrastructure, including the development of business plans and cost estimate documents, building and installation work, site improvement and landscaping activities.

2) Training and retraining of highly qualified specialists holding international certificates in the field of information technologies.

3) Design, development, implementation, pilot and commercial production of computer software and databases for the following applications:

Translation and adaptation of software products from the leading software manufacturers into the national language,

Development of mathematical process models for strategically important sectors.

Information telecommunication systems and data exchange networks, Intranet-Internet systems in key sectors,

Information security systems,

Automated process control systems for industrial applications.

4) Design, development, implementation, pilot and commercial production of IT hardware products for the following applications:

Innovative technologies in the field of mobile communication systems based on GPS (global position system), GPNS (global position navigation system) and other systems,

Information security at the data storage, processing and transmission levels,

Information telecommunication systems and data transfer networks, hardware components,

Remote land sensing systems.

5) Development of new information technologies based on artificial immune and neural systems.

6) Marketing research in the field of information technologies.

7) Research and development efforts aimed at initiating and implementing IT projects.

8) Manufacture of text-processing, copying, addressing machines, calculators, cash registers, marking and ticketing machines and other office machinery and equipment, computers and other data processing equipment.

9) Manufacture of electrical and radio components, sound and image transmitting, receiving, recording and displaying equipment,

10) Manufacture of domestic electrical appliances.

The regulatory framework required for making SEZ IT Park fully functional comprises the following:

SEZ IT Park Development Strategy and Master Plan prepared by JURONG Consultants Pte Ltd. was approved by Order of the Ministry of Industry and Trade of the Republic of Kazakhstan of June 6, 2005, ¹203.

Business Regulations on the Premises of SEZ IT Park and Procedures for Company Registration as a Participant of SEZ IT Park were approved by Order of the Minister of Industry and Trade of the Republic of Kazakhstan of February 24, 2006, ¹68. The Order was registered with the State Registrar of Statutory Regulations under ¹4127 on March 20, 2006. These regulations cover the full range of the procedures involved, from filing an IT Park participant application form to project implementation.
 

Schedule of Goods, Labor and Services by Kinds of Activities Meeting the Objectives of SEZ IT Park was approved by Resolution of the Government of the Republic of Kazakhstan of May 17, 2006, ¹415.

Itemized List of Goods Required to Meet the Objectives of SEZ IT Park was approved by the Resolution of the Government of the Republic of Kazakhstan of July 18, 2005, ¹737. Additional items required for implementation of projects on the territory of SEZ IT Park were incorporated in the List of Goods by Resolution of the Government of the Republic of Kazakhstan of August 3, 2006, ¹734.

List of Goods Supplied to the Territory of SEZ IT Park and Intended for Consumption in the Course of Activities Taking Place on the Territory of the Special Economic Zone Which Proceeds Are Exempted from Value-Added Tax, was approved by Resolution of the Government of the Republic of Kazakhstan of September 20, 2006, ¹889.

Regulations on the Issue of Verification Certificates to the Participants of SEZ IT Park were approved by Order of the Minister of Industry and Trade of the Republic of Kazakhstan on November 13, 2006, ¹303. The Order is presently undergoing registration procedures at the Ministry of Justice.

Detailed information about SEZ IT Park can be found on its official web site www.aitc.kz

 

SEZ Ontustik



Objectives: promoting development of the textile industry, in particular the production of readymade garments, stimulating the integration of Kazakhstan national economy into the global market economy system, encouraging international trademark owners to set up manufacturing of readymade textiles in Kazakhstan, setting up high-tech manufacturing facilities, and expanding the range of produced textile goods.

Operations in the SEZ are intended to meet the needs of the growing domestic textile consumer market and provide export-oriented production with the following primary specialization of the manufacturers involved:

 Production of cotton thread and all kinds of yarn

 Weaving industry

 Dyeing and finishing

 Production of finished textile goods

 Knitwear and hosiery production

 Production of knitted pullovers, cardigans and other similar garments

 Production of work clothes

 Production of outdoor clothing

 Production of underwear

 Manufacture of other garments and accessories.

 Various activities focused on the development of industrial infrastructure in SEZ Ontustik.

As of June 1, 2007, there were three investment projects approved for implementation on the territory of the SEZ: TOO Khlopkoprom-celluloza, TOO KazDemirTextile, TOO Beybars K, for a total amount of more than USD 200 million.

A list of goods and services for the period of construction and principal operations has been prepared in accordance with the EEC Commodity Coding System and approved by Resolution of the RK Government ¹1151 of 22.11.2005.

An official web site featuring advertising information about Kazakhstan, South Kazakhstan Region and the SEZ, and proposals for cooperation is registered at www.textilezone.kz

 

Prospective Special Economic Zones

In order to establish a suitable environment for the implementation of "breakthrough macroprojects”, which would produce multiplicative effects and stimulate the development of Kazakhstan national economy, the Ministry of Industry and Trade of the Republic of Kazakhstan is making joint efforts with the concerned government bodies and regional assemblies for the establishment and development of the following new SEZs: Dostyk, Khorgos Eastern Gateway, Western Gateway, Tobyl, Burabay, and National Petrochemical Industrial Park.



Special legal status of SEZ areas

Special legal status is implemented for a period determined by Decree of the President of the Republic of Kazakhstan on the founding of the respective SEZ and incorporates the following provisions:

1) Procedures for the entry, exit, transit and stay of foreign nationals and stateless persons, as well as the vehicles of such persons, established by the Laws of the Republic of Kazakhstan and international agreements to which the Republic of Kazakhstan is a party.

2) The status of customs free zone, i.e., customs regulations allowing storage and use of foreign and domestic goods within the boundaries of SEZ without the imposition of customs duties or taxes, except for excise duties on imported goods, and without application of non-tariff regulations, except for product safety requirements.

3) Special tax treatment provisions.

Tax treatment provisions on the territory of an SEZ include the following:

Exemption from corporate income tax.

Application of zero tax rate for the purpose of land tax assessment.

Application of zero rate on the annual average value of taxable items for the purpose of property tax assessment.

Exemption from value-added tax in respect of all revenues arising on the territory of SEZ from sales of goods, labor and services produced and consumed in the course of activities conforming to the objectives of the SEZ.

Exemption from value-added tax in respect of construction projects and building and installation work in administrative and industrial facilities (office, plant and storage buildings) that are intended for use in activities conforming to the objectives of the SEZ.

For this purpose, companies operating in the territory of SEZ shall be understood as legal entities meeting all of the following conditions:

be duly registered with the tax authorities on the territory of the SEZ,

have no subdivisions located outside the boundaries of the SEZ,

have not less than 90 percent of aggregate yearly revenue formed by earnings received (or receivable) from sales of goods (labor, services) of its own manufacture through activities conforming to the objectives of the SEZ and classified by the Tax Code of the Republic of Kazakhstan pursuant to the Decree of the President of the Republic of Kazakhstan on the founding of the SEZ.

The listed tax preferences considerably decrease project construction costs.

 

Industrial estates in the Republic of Kazakhstan

 

General provisions concerning the operation of industrial estates are stipulated in the Law of the Republic of Kazakhstan of January 31, 2006, ¹124 On Private Enterprises, and Resolution of the Government of the Republic of Kazakhstan of November 21, 2006, ¹1098 On the Concept of Industrial Estates.



An industrial estate is a plot of non-agricultural land furnished with the necessary services and utilities, which is granted by the government to private entrepreneurs for the purposes of setting up and operating industrial facilities following the procedures established by the Land Code of the Republic of Kazakhstan and other legislation existing in the Republic of Kazakhstan.

The key concept for the use of industrial estates as a part of infrastructure is to create favorable conditions for the establishment of new industrial facilities in the respective region. Attractiveness for investors arises from the concentration of industries sharing the same orientation (cluster effect), costs saved on infrastructure development (scale advantage), and shorter plant commissioning periods (site readiness), which eventually leads to the reduction of project implementation costs.

Specialization for each industrial estate is determined from the identified objectives:

1. Development of particular industry sectors.

2. Development of a particular region.

3. Development of business activities around major cities or large industrial enterprises.

Therefore, industrial estates should preferably be set up in locations where a high level of business activity exists, facing constraints caused mainly by the shortage or high price of land, complicated technical specification procedures, etc.

Infrastructure resources are understood as a system of facilities intended to meet the requirements of all parties operating in the industrial estate for heat, electric power and water supplies, sewage, transport and communication lines and other services that are essential for the implementation of commercial activities (offices, store premises, public services and catering facilities, hotels and dormitories, vocational training institutions).

During the sustained functioning phase, industrial estates require no extra funding and can normally be maintained out of the income arising from the lease of land plots, offices, stores and rendering of other associated services. The principal duty of an industrial estate managing company at this stage is to pursue cost-effective commercial activities aimed at:

properly maintaining the assets and infrastructure,

accommodating a maximum number of enterprises and signing appropriate agreements with the parties involved,

providing public utilities and associated services to the parties,

managing incomes from the rent and conducting further development of the estate.

The Ministry, along with the concerned government bodies and regional assemblies, is presently finalizing the list of industrial estates to be founded with the government assistance in 2007-2009.

Socio-commercial corporations

Pursuant to the Territorial Development Strategy of the Republic of Kazakhstan to 2015, the Government of the Republic of Kazakhstan approved by Resolution of May 31, 2006, ¹483, Concept for the Founding of Regional Socio-commercial Corporations (SCC), the primary objective of which is to encourage economic development in the countrys regions through consolidation of the public and private sectors and building a single economic market based on the cluster approach.

A draft law On Socio-commercial Corporationshas been developed to provide a sound regulatory basis for the operation of socio-commercial corporations in order to promote public-private partnership in the Republic of Kazakhstan, which would encourage social and economic development of the countrys regions and attract both foreign and domestic investors to Kazakhstan industrial sector. The draft law is presently undergoing approval with the concerned government bodies.

Operations of SCCs will be primarily focused on encouraging private businesses through the implementation of joint projects within the framework of public-private partnership agreements. SCCs will promote further growth of competition and entrepreneurship and provide institutional infrastructure to support small business entities.

In his Decree On the Measures for Establishing and Supporting the Activities of Socio-Commercial Corporations of January 13, 2007, ¹274, the President of the Republic of Kazakhstan directed that a joint-stock company, National Company "Socio-commercial Corporation (NC SCC) Sary Arka”, be founded as a pilot project. JSC NC SCC Sary Arka is operating in Akmola and Karaganda regions and in Astana.

The strategic objective of JSC NC SCC Sary Arka is to provide more efficient management of state-owned assets through the financing of cost-recoverable and economically feasible investment projects involving expansion, modernization and refurbishment of existing manufacturing enterprises, as well as launching new enterprises for the production of goods and services, as well as mining and processing of mineral resources.

The first priority in the implementation of investment projects by JSC NC SCC Sary Arka is the development of civil engineering infrastructure for industrial estates envisaged in the scope of the Industrial Innovation Development Strategy of the Republic of Kazakhstan for 2003-2015, approved by Decree of the President of the Republic of Kazakhstan of May 17, 2003, ¹1096.

Pursuant to Decree of the President of the Republic of Kazakhstan of April 20, 2007, ¹320, the following joint-stock companies have been founded by Resolution of the Government of the Republic of Kazakhstan of May 11, 2007, ¹376:

National Company “Socio-commercial Corporation Ertis” operating in East Kazakhstan and Pavlodar regions with a head office in Semey, National Company “Socio-commercial Corporation Ontustik” operating in South Kazakhstan, Zhambyl and Kyzylorda regions with a head office in Shymkent, National Company “Socio-commercial Corporation Zhetisu” operating in Almaty Region and the city of Almaty with a head office in Taldykorgan.

Another three socio-commercial corporations have been founded by Resolution of the Government of the Republic of Kazakhstan of September 18, 2007, ¹818, On the Provisions for Implementing Decree of the President of the Republic of Kazakhstan of September 17, 2007, ¹407:

joint-stock companies National Company “Socio-commercial Corporation Kaspiy” operating in Atyrau and Mangistau regions with a head office in Aktau, National Company “Socio-commercial Corporation Tobol” operating in North Kazakhstan and Kostanay regions with a head office in Kostanay, National Company “Socio-commercial Corporation Batys" operating in Aktobe and West Kazakhstan regions with a head office in Aktobe.

The principal feature distinguishing an SCC from a commercial corporation, as explained in the President Message to the People of Kazakhstan, is that the earned profits and dividends will be reinvested in order to meet the social, economic or cultural needs of the population of the respective region for which benefit the SCC are being established. The profits secured by SCCs will be thus directed towards the implementation of social programs, investment and innovation projects, setting up new industrial facilities and addressing environmental problems in the respective regions.




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