OREANDA-NEWS. July 24, 2013. The issues of attracting investments, development of special economic zones, as well as preparation for the upcoming heating season have been discussed at a meeting of the Government chaired by Prime Minister Serik Akhmetov.

Speaking at the meeting Vice Minister of Industry and New Technologies Albert Rau reported that over the past four years Kazakhstan attracted about 170 billion U.S. dollars in investments. The package of investment preferences was expanded in order to improve the investment climate. Investment legislation is being improved. A platform for dialogue with investors has been formed.

Rau believes that for further improvement of work including on the main recommendations of the OECD, it is necessary to "introduce stability of legislation for non-extractive sector for 10 years, conduct monitoring of domestic investments abroad, to carry out the calculation of statistics on FDI by region."

These measures will help to improve the investment climate and increase investment competitiveness.

Albert Rau also told about the performance of the special economic zones. "For the entire period of their functioning 97 billion tenge was allocated from the national budget. Private investment amounted to 308 billion tenge," Rau said. Kazakhstani SEZs produced goods worth 270 billion tenge. He noted that about 28 billion tenge was paid in taxes, so nearly a third of the allocated budget funds were returned.

As he said, "until the end of the year it is planned to draw up medium-term development plans for each special economic zone, with reference to the second five-year plan of the state program of forced industrial innovative development."

Summing up the discussion, the Prime Minister supported the proposed approach in the development of special economic zones and noted the need for "continuous promotion of the country’s attractiveness in terms of tough competition for global investment."

"Today, it is particularly important in view of our policy of forced industrial innovative development," Akhmetov said and noted that "today's analysis shows that the management and development strategies of the existing special economic and industrial zones require significant adjustments."

Serik Akhmetov stressed the need for "a clear development strategy for each special economic zone. It is necessary to bring all the work done to a logical conclusion."

The Prime Minister also expressed the need for "specifying criteria for selection of projects to be placed in special economic zones, making the focus on high-tech and innovation projects and productions."

In this regard, Akhmetov instructed the Ministry of Industry and New Technologies together with the concerned government agencies and akimats of the regions, Astana and Almaty cities continue to attract investment and develop special economic zones. The Ministry of Economy and Budget Planning should study the issue of the financing mechanism of management companies. The Ministry of Regional Development in cooperation with akimats was charged to continue work on the development of industrial zones, as well as to prepare proposals for the next package of changes to the program "Business Road Map 2020".

Vice Minister of Industry and New Technologies B.Dzhaksaliyev, Vice Minister of Regional Development S.Nokin, Vice Minister of Emergencies B.Smailov, governors of Atyrau region B. Izmukhambetov, Kostanay region N.Saduakasov, Akmola region K.Aitmukhambetov, Deputy Akim of Almaty region Shormanov, East Kazakhstan region Kusherbayev delivered their reports on the preparation for the heating season.

In conclusion Serik Akhmetov said that almost all regions failed to meet the deadline on the repair of heat supply systems. Head of Government drew attention to the lack of proper control by the local executive bodies and reminded about the personal responsibility of governors of the regions for the timely preparation for the upcoming heating season.

Akhmetov instructed all state agencies and akimats to take necessary measures and enter into a planned schedule of preparatory work. "We will review this issue again in September and October, and take measures in case of failure to implement the tasks," the head of the Government said.