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On the Establishment of the Foreign Investors' Council chaired by the President of the Republic of Kazakhstan

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Decree of the President of the Republic of Kazakhstan of June 30 1998 No. 3985.

      In accordance with sub paragraph 20) of Article 44 of the Constitution of the Republic of Kazakhstan, I hereby RESOLVE THAT:
      1. To form the Foreign Investors' Council chaired by the President of the Republic of Kazakhstan.
      2. To approve the Regulation on the Foreign Investors' Council chaired by the President of the Republic of Kazakhstan (attached).
      3. The First Deputy Prime Minister of the Republic of Kazakhstan and the Chairman of the State Investment Committee of the Republic of Kazakhstan within a month should introduce proposals on personal composition of the Council to the Head of State for consideration.
      4. This Decree shall enter into force on the date of signing.
      PRESIDENT
      OF THE REPUBLIC OF KAZAKHSTAN

  APPROVED by
the Decree of the President of
the Republic of Kazakhstan
dated June 30, 1998 No. 3985

REGULATION
on the Foreign Investors' Council chaired by the President
of the Republic of Kazakhstan

      Footnote. The Regulation as amended by the Decree No. 603 of the President of the Republic of Kazakhstan dated July 24, 2013.

1. General Provisions

      1. The Foreign Investors' Council (hereinafter referred to as the Council) is a consultative and advisory body under the President of the Republic of Kazakhstan.
      2. The legal basis for the Council's activities is the Constitution and laws of the Republic of Kazakhstan, acts of the President of the Republic of Kazakhstan, other regulatory legal acts of the Republic of Kazakhstan, and this Regulation.
      3. The activities of the Council is ensured by the Administration of the President of the Republic of Kazakhstan and the working body of the Council.
      4. Working body of the Council is the Investment Committee of the Ministry for Investments and Development of the Republic of Kazakhstan (hereinafter the working body of the Council).
      Footnote. Paragraph 4 as amended by the Decree No. 911 of the President of the Republic of Kazakhstan dated September 17, 2014.

2. The main objectives of the Council

      5. The main objective of the Council is to develop recommendations and proposals on the following issues:
      definition of the main directions of the investment policy of the Republic of Kazakhstan;
      improvement of the investment climate in the Republic of Kazakhstan;
      improvement of the legal framework of the Republic of Kazakhstan on investments;
      assistance of foreign companies to economic diversification, industrialization of manufacturing sector, development of small and medium business of the Republic of Kazakhstan;
      integration of economy of the Republic of Kazakhstan into the world economic processes;
engagement strategy of foreign investment in the economy of the Republic of Kazakhstan ;
      realization of major investment programs and projects of international significance the Republic of Kazakhstan.

3. Composition of the Council

      6. The Chairman of the Council is the President of the Republic of Kazakhstan.
      7. Permanent members of the Council are ex officio: Prime Minister of the Republic of Kazakhstan, Chairman of the National Bank of the Republic of Kazakhstan, First Deputy Prime Minister of the Republic of Kazakhstan, Deputy Prime Ministers of the Republic of Kazakhstan, Deputy Head of the Presidential Administration of the Republic of Kazakhstan or Assistant to the President of the Republic of Kazakhstan administering social and economic issues, Minister of Foreign Affairs of the Republic of Kazakhstan, Minister for Investments and Development the Republic of Kazakhstan, Minister of Finance of the Republic of Kazakhstan, Minister of National Economy Republic of Kazakhstan and the first head of the Council's working body.
      Footnote. Paragraph 7 as amended by the Decree No. 911 of the President of the Republic of Kazakhstan dated September 17, 2014 .
      8. The Council may include other public officials of the Republic of Kazakhstan, determined by the President of the Republic of Kazakhstan.
      9. The composition of the Council from the foreign party shall be formed from the international economic and financial organizations representatives (hereinafter international organizations), the first heads of foreign companies or their deputies (hereinafter foreign members of the Council) in the manner specified by this Regulation.
      10. In order to facilitate effective implementation of the objectives assigned to it by the Council, a Commission on the operational activities of the Council shall be created (hereinafter referred to as the Commission).
      11. The personal composition of the Council is approved by the President of the Republic of Kazakhstan.

4. The procedures for the submission and consideration for membership in the Council

      12. For membership of the Council, representatives of international organizations, foreign companies (hereinafter referred to as applicants) submit an application to the working body in the form established by the annex to this Regulation.
      13. The main criteria for membership to the Council is investment by international organizations and foreign companies, represented by their applicants, in the economy of the Republic of Kazakhstan , direct investment in the amount not less than the equivalent $ 500 million for investors in the field of subsoil use and not less $ 125 million USA for investors working in other sectors of the economy.
      Members of the Council may also be representatives of international and other organizations, banks that are actively involved in the work of creation favorable investment climate and activation of investment processes in the economy of the Republic of Kazakhstan.
      14. When considering applications for membership in the Council, the following are also taken into account:
      1) participation in the activities of the observer work groups of the Council;
      2) experience and business reputation of international organization or foreign company;
      3) the significance of the activities of international organization or foreign company for the development of the economy and social sphere of the Republic of Kazakhstan;
      4) participation in solution of social and environmental problems of the Republic of Kazakhstan, sponsorship and charitable activities in the Republic of Kazakhstan;
      5) readiness for strategic expansion of investment activities in the Republic of Kazakhstan;
      6) participation in the work to improve the investment image of the Republic of Kazakhstan abroad;
      7) recommendations of industrial and business associations, embassies of states accredited in the Republic of Kazakhstan;
      8) the activities of international organization or foreign company in priority sectors of the industrial and innovative development of the Republic of Kazakhstan.
      15. Applications are considered by the working body in the order of their receipt and, in case of their session the criteria established by paragraphs 13 and 14 of this Regulation, are submitted for consideration by the Commission.
      16. In case if in accordance with the recommendation of the working body of the Council, the applicant does not meet the criteria established by paragraphs 13 and 14 of this Regulation, but has the potential and intention to fulfill them, the application may be submitted to the Commission for inclusion in the observers.
      17. At the positive decision of the Commission, the applicant is recommended to the Chairman of the Council for inclusion in the Council or shall be included in the Council’s observers.

5. Commission on the operational activities of the Council

      18. The main objective of the Commission is to facilitate the effective implementation of the objectives assigned by the Council. The composition of the Commission shall be approved by the decision of the Chairman of the Commission on the recommendation of working body of the Council and in agreement with all applicants for inclusion in the Commission.
      19. The Commission consists of six representatives of the Kazakhstani party and six representatives of the foreign party.
      Members of the Commission of the Kazakhstani party are ex officio: Deputy Chief of the Presidential Administration of the Republic of Kazakhstan or Assistant to the President of the Republic of Kazakhstan administering social and economic issues (Chairman of the Commission), Deputy Minister of Foreign Affairs of the Republic of Kazakhstan, Deputy Minister of Justice of the Republic of Kazakhstan, Vice-Minister for Investments and Development of the Republic of Kazakhstan, Vice-Minister of National Economy Republic of Kazakhstan, the first head of the working body of the Council (Secretary of the Commission).
      Footnote. Paragraph 19 as amended by the Decree No. 750 of the President of the Republic of Kazakhstan dated February 12, 2014; with amendments of the Decree No. 911 of the President of the Republic of Kazakhstan dated September 17, 2014.
      20. sessions of the Commission are held not less than twice a year. Commission decisions shall be made by a majority vote. In case of equal distribution of votes, the vote of the Chairman of the Commission is decisive.
      21. The Commission elaborates recommendations to the President of the Republic of Kazakhstan on the composition of the Council from the foreign party, improvement of the effectiveness of the Council’s activities, approves the composition of Council observers in the manner specified by the Chapter 6 of this Regulation, the Council’s work groups from the Kazakhstani and foreign parties, the procedure for preparing and conducting Council sessions, annual work plans , reports and regulations on the work groups of the Council, assesses the effectiveness of the work groups, as well as the activities of the members of the Council and their respective companies I objectives of the Council, the Council approves the recommendations produced by the work groups of the Council, drawn up in a single list of recommendations (hereinafter the single list of recommendations).

6. Observers

      22. Observers shall not be members of the Council.
      23. The composition of the observers is approved by the Commission.
      24. Observers can participate in the interim and plenary session of the Council, as well as make a report as agreed with the working body.
      25. Observers should participate actively in work of at least one work group of the Council, contribute to the formation of a positive investment climate and improvement of reputation of the Republic of Kazakhstan.

7. Procedure of exclusion or replacement of the Council's foreign members
and grounds for withdrawal a foreign member from the Council

      26. When considering the issue of exclusion or replacement of foreign members of the Council, the following shall be taken into account:
      1) personal participation of foreign members of the Council in plenary sessions of the Council;
      2) personal and active participation of the permanent representatives of foreign members of the Council in the activities of joint work groups of the Council;
      3) compliance by foreign members of the Council of legislation of the Republic of Kazakhstan;
      4) the participation of foreign members of the Council in development of the Republic of Kazakhstan economy, as an initial matter, in the implementation of measures to diversify the economy of the Republic of Kazakhstan.
      27. The grounds for the withdrawal of foreign member from the Council are:
      1) a written request from a foreign member of the Council on the termination of activities in the Council;
      2) termination by an international organization or a foreign company, the representative of which is a foreign member of the Council, of investment activity in the Republic of Kazakhstan.
      28. Recommendations of the Commission also can be grounds for the withdrawal of a foreign member from the Council.

8. Joint Council work groups

      29. In order to make recommendations and proposals to the Council on the execution of protocol instructions for plenary sessions of the Council, improvement of the investment policy, improvement of the investment climate of the Republic of Kazakhstan, assistance to foreign investors in the development of local content, industrial and innovative development of Kazakhstan and operating activities of companies investing in Kazakhstan, Commission decisions may establish Council work groups.
      30. In total, not more than 4 work groups of the Council can be created.
      31. The regulations on work groups, compositions of the Kazakhstani and foreign parties, the annual work plans and the reports of the joint work groups of the Council are approved by the Commission.
      32. The overall management of the joint work groups of the Council is carried out by the co-chairmen from the Kazakhstani and foreign parties, approved by the Commission within the framework of Commission's work groups.
      The co-chairman of the joint work group from the Kazakhstani party may be an official of the level not less than the deputy head of the ministry administering activities related to this work group.
      Co-chairman of a joint work group from a foreign party can be the chief or another official of Kazakhstani representative's management board of international organization or foreign company, one of whose chiefs is a member of the Council.
      33. The composition of joint work groups of the Council may include representatives of state bodies of the Republic of Kazakhstan, international organizations, joint enterprises, Kazakhstani and foreign companies.
      34. Work groups make recommendations to the Council, which are drawn up in a single list of recommendations and preliminary discussed at interim sessions of the Council, agreed with the Commission, reviewed and approved by the minutes of plenary sessions of the Council.
      35. Participation in joint work groups of the Council shall carry out without the option.

9. Work sequence of the Council

      36. plenary sessions of the Council shall be held not less than once a year.
      37. The main topic, date and place of the plenary session shall be determined by the Chairman of the Council.
      38. Besides the main topic, the agenda of plenary sessions includes 2 standing issues:
      1) the report on the execution of protocol instructions of the Council's previous plenary session;
      2) the final report on the recommendations made by the Council’s work groups on the realization of investment policy during the year in order to improve the investment climate in the Republic of Kazakhstan, assistance of foreign investors in the industrial and innovative development of the Republic of Kazakhstan and the operational activities of foreign investors.
39. Plenary sessions of the Council are empowered if there are not more than two thirds of the total number of Council members.
      40. In the period between the plenary sessions of the Council, an intermediate session of the Council is held under the chairmanship of the Prime Minister of the Republic of Kazakhstan.
      41. The Council’s interim session may be attended by members and observers of the Council, heads of state bodies of the Republic of Kazakhstan, co-chairmen of the Council’s work groups, as well as permanent representatives of foreign Council members in the Republic of Kazakhstan.
      42. On the interim sessions of the Council the preliminary results of the implementation of the protocol decisions of the last plenary session of the Council, the current problems of foreign investors, and recommendations developed by the work groups of the Council, are discussed.
      43. These recommendations shall be articulated by the co-chairmen of the Council work groups and shall be taken into account in the preparation of the minutes of the interim session of the Council and the single list of recommendations submitted for consideration by the next plenary session of the Council.
      44. If necessary, representatives of interested state bodies of the Republic of Kazakhstan, as well as representatives of international organizations and foreign companies that are not members of the Council may be invited to plenary and intermediate sessions of the Council.
      45. Decisions resulting from plenary and interim sessions of the Council shall be documented in a protocol with a annex of single list of recommendations to be approved.
      46. The working body of the Council submits a draft protocol of the plenary session of the Council, coordinated with the Prime Minister of the Republic of Kazakhstan and the interested state bodies, with a single list of recommendations approved by this protocol within a month from the date of the plenary session of the Council.
      47. The working body of the Council ensures distribution of the protocols and their annexes of the interim and plenary sessions of the Council to the participants of sessions within a month from the date of its signing.

10. Working body of the Council

      48. The working body of the Council shall carry out the functions of:
      1) preparation and submission for consideration of the Commission recommendations on the composition of the Council, Council and Commission joint work groups;
      2) organization and conduct of plenary and intermediate sessions of the Council;
      3) coordination of the activities of joint work groups;
      4) monitoring the implementation of protocol decisions of the Council, its joint work groups and the Commission.

  ANNEX
to the Regulation on the
Foreign Investors' Council chaired
by the President
of the Republic of Kazakhstan,
approved by Decree of
the President of the Republic of
Kazakhstan No. 3985
dated June 30, 1998

APPLICATION
for Council membership

      1. The name of international organization / foreign company:
      _________________________________________________________________________.
      2. Postal address: ___________________________________________________________
      _________________________________________________________________________.
      3. Country of origin: ________________________________________________________.
      4. General description of international organization / foreign company activities (sphere of activities, business reputation).
      5. Information about the participation of international organization / foreign company in the implementation of investment projects in Kazakhstan.
      6. Total direct investments in the economy of the Republic of Kazakhstan.
      7. Aggregate turnover, production volume on the territorry of Kazakhstan.
      8. Revenues to the state budget of the Republic of Kazakhstan from the activities of international organization / foreign company.
      9. Participation in joint work groups activities of the Council.
      10. Participation of international organization / foreign company in solution of social and environmental problems of the Republic of Kazakhstan, charity and sponsorship activities on the territory of the Republic of Kazakhstan.
      11. The number of Kazakhstani employees and their professional training activities.
      12. Information about the participation in the events to improve the investment image of the Republic of Kazakhstan abroad.
      13. The surname, first name and patronymic of the applicant:
      _________________________________________________________________________.
      14. Position: _______________________________________________________________.
      15. Professional activity: _____________________________________________________
      _________________________________________________________________________.
      16. Work period in the international organization / foreign company:
      _________________________________________________________________________.
      17. Attached documents (letters of recommendation from the government bodies of the Republic of Kazakhstan, industrial and business associations, embassies of states accredited in the Republic of Kazakhstan):
      _________________________________________________________________________.

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