Kazakhstan to establish integrated Special Economic Zone for favourable investment climate

By the decree of Kazakhstan's government for the period up to 2048, a special economic zone (SEZ) "G4 City" with an area of 30 thousand hectares was created in the Almaty region, the Prime Minister's office announced on March 16.

The SEZ is located north of the city of Almaty along the 80-kilometre highway A3 (Almaty-Konaev). A special legal regime is established on its territory. The new economic zone is expected to provide a favourable climate for attracting domestic and foreign investment in the creation of an integrated G4 City, which in turn will give a new impetus to the development of the entire region.

Thus, by 2048, within the framework of the SEZ, it is planned to attract about 3.7 trillion tenges ($8 billion) of investments, produce goods and services for more than 17 trillion tenges ($36 billion) and create about 60 thousand jobs. In general, it is expected that the operation of the new economic zone will lead to the accelerated development of tourism, medical, transport and logistics, educational, cultural and leisure infrastructure in G4 City. The SEZ regime will also reduce capital costs for the construction of facilities.

According to the G4 City development concept, the integrated city will consist of four thematic districts: Gate City - a business and financial centre, Golden District - an educational and medical hub, Growing District - an innovative industrial and trade and logistics zone, and Green District - a tourist cluster. It is assumed that about 2.2 million people will live in G4 City.

The Decree shall enter into force from the date of its signing.