A new code on subsoil use has been developed in Kazakhstan
A new code on subsoil use has been developed in Kazakhstan. According to the new law entering into force on July 1, new companies investing in the development of the Kazakh fields will have the opportunity to receive all the permitting documents in 15 days. Moreover, the companies will conduct exploration works at the new sites without going through the auction procedure. Experts called this law revolutionary as it will favorably affect the investment environment. This simplification of procedures is associated with the Kazakh government’s intent to attract investments to the fields, including extraction of mineral resources, and geological exploration.
TIMUR TOKTABAYEV, KAZAKH VICE MINISTER OF INVESTMENTS AND DEVELOPMENT:
- The Kazakh Government guarantees the stability for the old contracts. For the new contracts, there is a new opportunity of simplified procedures for obtaining the necessary documents. Today, we gathered the professional community of those who know the subject matter and we will answer their specific questions. The meetings will be held not only in Almaty, but everywhere in the regions.