World mining congress
Mining industry takes the leading position in the economy of Kazakhstan. This sector makes up seven per cent of the GDP and 23 per cent of the industrial manufacturing and exports of Kazakhstan. There is a total of 800 large, medium-sized and small enterprises engaged in this industry in Kazakhstan. At the World Mining Congress in Astana, local and international experts discussed the prospects of attracting foreign investments to the industry, introduction of the new technologies and the digital transformation.
ZHENIS KASSYMBEK, KAZAKH MINISTER OF INVESTMENTS AND DEVELOPMENT:
- The Kazakh government’s main goal is to join efforts of the large international companies and the Kazakh companies. Attraction of investments is another important task. We are presenting our goods to the fullest extent and we hope to attract the international investors. We want large companies to bring their technologies and expertise to Kazakhstan.
According to experts, Kazakhstan’s mining industry is expected to demonstrate a sustainable growth in the upcoming years. The contributing factors include higher prices of the base metals, as well as improvement of the legal framework for the industry. The new code will enter into force at the end of the month. The document opens more opportunities for the transfer of the latest technologies and digital transformation in the mining industry.
NIKOLAY RADOSTOVETS, EXECUTIVE DIRECTOR, KAZAKHSTAN’S ASSOCIATION OF MINING ENTERPRISES:
- The Code on Subsoil Use and a program developed by the Ministry allow dividing the area of Kazakhstan into sites and start geological explorations in the areas that are of a great interest. Today, we are discussing the principles of the work that we are going to start due to operation of the new law.
The new tax code adopted at the end of last year provides substantial incentives for the development of geological exploration in Kazakhstan, the country that holds one of the leading positions in the world in natural resources.