In 2003,
Kazakhstan newly enacted the Act for New Foreign
Investment after abolition of the Act for Foreign
Investment and the Law on State Support for Direct
Investment. Under the new law, there is no discrimination between domestic and foreign investors.
Investment favors are provided in priority
sectors, which include following
sectors:
industrial infrastructure,
processing industry,
agriculture,
agro-industry, housing, the social
sector and tourism infrastructure. The incentives for direct
investments in the priority
sectors are: property tax and income tax exemptions for up to five years respectively, and exemptions or reductions in customs duty on materials necessary for completion of the
investment project.
