Kazakhstan to set up Industry Development Fund

NUR-SULTAN. KAZINFORM «Kazakhstan plans to create the Industry Development Fund,» Vice Minister of Industry and Infrastructure Development of Kazakhstan Amaniyaz Yerzhanov said presenting the draft law On industrial policy at the Majilis, Kazinform correspondent reports.

The draft law regulates the foundation and work of the Fund and the Industry information system.

The Fund is supposed to be the operator to provide measures of state incentive measures for industrial and innovative activities using the means of the public budget, operator of extended obligations of manufacturers and importers. The Industry information system of Kazakhstan is a system containing information on manufacturing industries, their development forecasts and stimulus moves. The system will be owned and operated by the National Chamber of Entrepreneurs of Kazakhstan.