Local content share in subsoil users’ procurements to rise to 55% in Kazakhstan
NUR-SULTAN. KAZINFORM – Kazakh Industry and Infrastructure Development Minister Beibut Atamkulov pledged to increase the share of local content in subsoil users’ procurements to 55%, Kazinform correspondent reports.
«In order to keep and increase the local content indicators in subsoil users’ procurements, the rules for signing agreements to stimulate entrepreneurship with subsoil users were established in the Code on Subsoil and Subsoil Use of November 15, 2021» said the minister at a government session.
«According to the agreements the average local content share in goods is 30%, and in work and services – 80 and 85%, accordingly. As of November, 2021, 234 such agreements have been concluded,» he said.
Of the 234, 164 agreements were signed with the subsoil users in the area of hydrocarbon raw material and uranium, and 70 with subsoil users extracting solid materials.
«Such measures, according to the preliminary outlook, will allow to increase the share of local content in subsoil users’ procurements to 55%,» he concluded.