OREANDA-NEWS. January 24, 2014. The bill "On "Innovative Technologies Park" innovative cluster" was approved by the Kazakh Majilis in the first reading.

The Deputy Premier - Minister of Industry and New Technologies of Kazakhstan Asset Issekeshev noted that it was created in connection with the mission of the President as of November 29, 2012 introducing the bill. An international experience has been considered at the same time.

 The purpose of the bill is a legislative recognition of individual control system of the special economic zone "Park of innovative technologies" by reorganizing the authorities of SEZ "Park of innovative technologies" into the nonprofit institution - autonomous cluster fund. In addition, the bill establishes a simplified procedure for foreign labour attraction by autonomous cluster fund and specifies the requirements for potential cluster members.

The bill defines a mechanism of trust fund establishment to support the cluster development providing annual deductions accumulation for research and experimental-design projects at the rate of not less than 1 percent of gross annual income.

The Minister stressed that the cluster will include leading universities of Almaty and possibly foreign universities.

During the drafting of this law the deputies have made some amendments, particularly specifying the goal of creating an innovation cluster “Park of innovative technologies” and clarifying the competence of Cluster Council of Trustees.