Article 44. Creation of the management company of the industrial zone of the Law on Special Economic and Industrial Zones

Home / RLA / Article 44. Creation of the management company of the industrial zone of the Law on Special Economic and Industrial Zones

 1. After the implementation of the decision of the local executive body on the creation of a state industrial zone, the local executive body must decide on the creation and (or) participation in the creation of an industrial zone management company. The management company of an industrial zone, with the exception of the management company of a private industrial zone, is created in the organizational and legal form of a joint-stock company or limited liability company.

2. The founders of the industrial zone management company may be:

1) The Government of the Republic of Kazakhstan – the management company of the industrial zone of national importance;

2) the local executive body of the region, the city of republican significance, the capital – the management company of the industrial zone of republican or regional significance;

3) the owner of a private industrial zone in accordance with this Law.

3. A management company of an industrial zone of national or regional significance may also be established with the participation of a non-governmental legal entity, including a foreign legal entity with experience in managing industrial zones in other countries or the Republic of Kazakhstan, taking into account the specifics established by the legislation of the Republic of Kazakhstan on joint-stock companies.

At the same time, the state in the established management company should own no more than twenty-six percent of the shares in the authorized capital (voting shares) of the management company.

IZPI's note! Part 3 of paragraph 3 is amended by the Law of the Republic of Kazakhstan dated 06/24/2025 No. 196-VIII (effective sixty calendar days after the date of its first official publication).

The procedure for the sale to a non-governmental legal entity, including a foreign legal entity, of a state-owned block of shares in joint-stock companies or shares in the authorized capital of limited liability partnerships is carried out in accordance with the procedure established by Article 105 of the Law of the Republic of Kazakhstan "On State Property".

State-owned shares in the authorized capital (voting shares) of management companies may be transferred to the trust management of a single coordination center.

4. A non-governmental legal entity, including a foreign legal entity, may be designated as the management company of an industrial zone, provided that the state must own no more than twenty-six percent of the shares in the authorized capital (shares) of such a management company.

The procedure for transferring shares of participation in the authorized capital (shares) of management companies determined by the Government of the Republic of Kazakhstan to the State is carried out in accordance with the procedure established by the legislation of the Republic of Kazakhstan on state property.

5. The management company of an industrial zone is registered at the location of the industrial zone in accordance with the procedure established by the Law of the Republic of Kazakhstan "On State Registration of Legal Entities and Registration of branches and representative Offices".

6. By the decision of the founder of the industrial zone management company, one management company may operate in several industrial zones.

7. The selection of persons for the management of management companies of industrial zones of national and regional significance is carried out by the local executive body of the region, the city of republican significance, the capital.

At the same time, the selection of persons for the management of management companies of industrial zones of national importance is carried out in coordination with the authorized body.

8. The management company of an industrial zone shall, within two months from the date of its creation or definition, approve a three-year development strategy for an industrial zone of national or regional significance, including annual target indicators.

This strategy is subject to re-approval every three years, taking into account the dynamics of the development of an industrial zone of national or regional importance.

The development strategy for an industrial zone of national significance is subject to approval by the authorized body, and for an industrial zone of regional significance - by the local executive body.

The management companies of the industrial zone, which were subsequently involved, carry out their activities in accordance with the previously approved development strategy of the industrial zone.

The authorized body and the local executive body of the region, the city of republican significance, the capital consider the development strategy of the relevant industrial zone within twenty working days from the date of its receipt.

If there are comments and suggestions from the authorized body and the local executive body of the region, the city of republican significance, the capital, the finalized strategy for the development of an industrial zone of republican or regional significance is subject to re-submission to the authorized body and the local executive body of the region, the city of republican significance, the capital for approval within five working days.

9. If the first head of the management company of the industrial zone of national importance fails to achieve key performance indicators, the authorized body submits to the board of directors a proposal on termination of the employment contract.

If the Board of directors fails to take appropriate measures to terminate the employment contract with such a management company, the contract for the proper performance of the functions of the industrial zone management company will be terminated.

10. If the first head of the management company of an industrial zone of regional importance fails to achieve key performance indicators, the local executive body submits to the board of directors a proposal on termination of the employment contract.

This Law regulates public relations arising from the creation, operation and abolition of special economic and industrial zones on the territory of the Republic of Kazakhstan.

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Republic of Kazakhstan

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