Special economic and industrial zones attract investments

Special economic and industrial zones attract investments

Special economic and industrial zones are the main tools of attracting investments. In order to create favorable conditions for potential investors who arrive in the Turkistan Special Economic Zone (SEZ), until 2043 the government exempts them from customs, corporate, income, land, property and value added taxes, as well as provides land free of charge.

According to the communications service of Turkistan region, 23 projects worth 408 billion tenge (US$952.5 million) are being implemented on the territory of the Turkistan SEZ. Two more projects worth 2.2 billion tenge (US$5.1 million) are in the process of signing. Negotiations for another 15 billion tenge (over US$35 million) are underway.

Ten new enterprises are planned to launch in the industrial zone of Almaty, where 60 companies are operating at the moment. In total, local and foreign investors plan to invest more than 260 billion tenge (more than US$607 million) in the production development over five years. One of the enterprises in the zone began making high-quality energy-saving PVC and aluminum profile structures. The plant’s capacity reaches 475,000 square meters of double-glazed windows per year. A plant for the production of energy-efficient architectural facades, which is worth nearly 4 billion tenge (US$9.3 million), also works here. The products are sold to major Kazakh companies so far. It is planned to engage in retail trade and enter the markets of Russia and Uzbekistan.

“Our enterprise is the only one in Kazakhstan. Everything is in one place. The products are of high quality and compete with world leaders,” said director of the company Sergei Khrushchyov.

The industrial zone plans to launch 14 projects worth 24.1 billion tenge (US$56.2 million) this year. Six projects worth 40 billion tenge (US$93.3 million) will be implemented in 2021 and beyond.

 

Photo: camonitor.kz