Kazakhstan - End Of The State Of Emergency.
Legal News & Analysis - Asia Pacific - Kazakhstan - Regulatory & Compliance
13 May, 2020
On Monday, May 11th, the President of Kazakhstan declared the end of the state of emergency in the country. However, in a number of regions the threat of infection still remains. Therefore, quarantine restrictions will be lifted gradually, as the situation in each region improves. As of today, the number of infected is 5279 with 2223 recovered and 32 died. Below are the main highlights of the President's Monday speech:
- A special public procurement procedure aimed at supporting domestic manufacturers will continue its work until August of 2020.
- The maximum use of domestic materials and equipment will be fixed as a priority condition for business development.
- According to infrastructure programs, the current level of localization will be increased from 40 to 60-70%.
- The Government, together with NPP Atameken, is launching a pilot project in several regions to develop a cooperative chain in the village “from field to counter”. During the implementation of this program, preferential microcrediting will apply at a rate of 6% per annum through the KazAgro line using the instruments of the Damu Fund guarantee.
- A new project for providing credit housing "5-10-20" is launched. 390 billion tenge is allocated for this project.
- The study of the introduction of a progressive scale of individual income tax in respect of wages and other types of income was launched.
- The President instructed to provide special measures for small business within the framework of the Business Roadmap program. Another measure of business support will be the expansion of the list of industries to which banks and other financial organizations provide deferred payments on loans.
- In order to prevent pressure from unscrupulous creditors, the President instructed to suspend the initiation of bankruptcy proceedings against legal entities and individual entrepreneurs until October 1 of the current year.
For further information, please contact:
Saniya Perzadayeva, Managing Partner, Unicase Law Firm