Prosecutors Intervene in Khorgos Investor Dispute

Prosecutors were forced to step in during a dispute involving an investor in the Khorgos special economic zone, Orda.kz reports.

The company at the center of the case is INTERNATIONAL CASTLE LLP, whose founders include the Chinese HoChen County Knitwear Company Jia Cheng Zhen Zhi.

According to the Prosecutor General's Office, INTERNATIONAL CASTLE had planned to build a “City of Craftsmen” pavilion in Khorgos. However, the LLP was denied registration, and as a result, its period of participation in the SEZ expired.

Additionally, due to the unfinished customs procedure for importing construction materials and the subsequent exclusion of the investor from the register, state revenue authorities assessed additional customs duties in the amount of 1.4 billion tenge,the Prosecutor General's Office stated.

After prosecutors intervened, the restrictions imposed by the fiscal authorities were lifted. The investor was then able to move forward with the project, valued at seven billion tenge.

The official responsible for the problems INTERNATIONAL CASTLE faced was ultimately brought to disciplinary responsibility.

Original Author: Igor Ulitin