Joint financing of projects due to republican and local budgets planned to be introduced in Kazakhstan
Joint financing of some projects at the expense of the republican and local budgets is planned to be introduced in Kazakhstan. The Minister of Economy and Budgetary Planning of Kazakhstan, Bahyt Sultanov, informed at the government session, the agency reports.
Astana. February 9. Kazakhstan Today - Joint financing of some projects at the expense of the republican and local budgets is planned to be introduced in Kazakhstan. The Minister of Economy and Budgetary Planning of Kazakhstan, Bahyt Sultanov, informed at the government session, the agency reports.
"The Law on Transfers of the general character of 2011 - 2013 will be developed this year," B. Sultanov informed.
"The mechanisms of joint financing of the projects at the expense of the republican and local budgets will be introduced in Kazakhstan to modernize the system of granting of target transfers to the regions," B. Sultanov explained.
He informed that "the concept of development of state-private partnership and the plan of its realization of 2010 - 2014 will be confirmed. "The state support measures, approaches in advancement of the state-private partnership tools at realization of the projects of regional level will be systematized," the minister added.
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Kazakh deputy criticizes performance in mechanical engineering sector despite funding infusion
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Kazakhstan recovers 40bln tenge of illegally acquired assets
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Kazakhstan turns to high-value added manufacturing with building polyethylene plant it Atyrau region
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The Head of State has identified deep processing of hydrocarbons as one of the key areas of development of the oil and gas sector. The priority for our economy is high conversion production producing products with a rapid increase in added value in the technological chain with an export orientation. The added value between the initial feedstock ethane and the third conversion product polyethylene increases 20 times, from $80-90 to $1600-1800 per tonne. The Polyethylene project will certainly give a serious impetus to the development of both the manufacturing industry and the country's economy as a whole. According to experts' calculations, the contribution to the country's GDP by 2030 from the implementation of the project is estimated at approximately 1.2%," Olzhas Bektenov said.
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It was noted that the project is realised with the support of the Government. The plant will be built on the territory of a special economic zone with the provision of appropriate infrastructure and special tax regime. In this regard, Prime Minister emphasised the attention of the project participants to the need to maximise the use of local potential.
We on the part of the state provide comprehensive support in the implementation of projects important for the country's economy. At the same time, we expect you to increase the share of local content. For this purpose, it is necessary to determine the list of goods and equipment that will be mandatorily purchased from domestic producers. Special attention should be paid to training of Kazakhstani specialists and transfer of competences. It is important for us to maximise the attraction of local personnel, including for management positions in the project. We count on a similar approach in the implementation of other joint projects," Prime Minister emphasised.
Thus, in addition to the plant "Polyethylene" it is planned to build a gas separation complex and a trunk pipeline.
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