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Kazakhstan to change requirements to foreign suppliers

27 February 2018 11:30
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Kazakhstan to change requirements to foreign suppliers

ASTANA. KAZINFORM - The Ministry for Investments and Development of Kazakhstan has announced the decision to revise the standards of requirements to foreign suppliers, Kazinform reports.

"There will be carried out an analysis to reveal local, branch and regional restrictions blocking efficient fund raising. For example, HITACHI has stated the problem of entering the supply market and opening mining equipment and spare parts manufacture due to outdated standards and requirements in Kazakhstan which do not meet the international standards," Minister Zhenis Kassymbek said at the meeting of the Kazakh Government.

The Committee of Technology Regulation and Standardization is now going to carry out work on modification of standards.

"Population inquiry will be one of the tools to increase transparency and predictability of investment policy. Also it is planned to ensure access of investors to the regulatory legal acts in the field of investments by their publication in the English language. Also, we will switch to trilingual legislative activity," Kassymbek said.

The Minister also said conclusion of long term agreements with foreign suppliers in exchange for localization of production share is also considered.

"We have been working on a draft law earlier. We deem it reasonable to review it again at the ministry level and, if Okayed, resume that work. At present, during import offset is actively used by more than 50 countries of the world," the Minister said.


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