The Law of the Republic of Kazakhstan No. 534-IV ЗРК of 9 January 2012 "On State Support for Industrial and Innovative Activities" (the "Law"), came into effect on 6 February 2012. The Law is aimed at implementing the 2010-2014 state accelerated industrial and innovative development program and at improving the competitiveness of the national economy by boosting the development of priority sectors.
Please note the following provision of the Law:
Measures of State Support
- The Law sets out an exhaustive list of measures for state support, which a so-called "subject of industrial and innovative activities"1 can benefit from, including, among others:
- Financing (including co-financing)of projects, leasing financing;
- Provision of guarantees and sureties for loans;
- Arranging bank lending;
- Subsidizing of interest of bank loans and bond issues coupons.
- Guaranteed off-take.
Footnote
1. These are natural persons and/or legal entities that implement industrial-innovative projects in priority sectors of economy.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.