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Buying parts of Kazakhstan will be made easier

22 april 2012, 10:45
0
Kazakhstan steppes. Photo courtesy of venividi.ru
Kazakhstan steppes. Photo courtesy of venividi.ru
Kazakhstan is going to cut administrative barriers and simplify approval procedures related to obtaining subsoil use rights, Liter writes citing first deputy Prime-Minister Serik Akhmetov as saying at the 3rd International mining industry forum Minex-Central Asia-2012 in Astana.

“We are moving forward to simplify approval procedures and the whole bureaucratic machine related to the procedures of obtaining subsoil use rights,” the official said.

Head of Central Asia Metals PLC Nick Clarke also mentioned expedience of red take cuts at the conference. “What should the Government of Kazakhstan do to attract foreign investors into the mining sector where production potential is especially high? Conditions should be created to attract small and medium mining companies to Kazakhstan. And by creation of conditions I mean cutting red tape because it costs too much money for small and medium companies,” he said.

According to Director of Central Asian Geological Exploration Management Rio Tinto Chris Welton, the investors do not feel themselves confident in Kazakhstan because of insufficient transparency during tenders. “The tender process itself frequently makes the investor’s chances of winning it very low and dubious,” he said.

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