Kazakhstan Launches New Economic Zone to Boost Regional Trade and Investment

Kazakhstan Launches New Economic Zone to Boost Regional Trade and Investment

Tempo de leitura: 2 minutos

Kazakhstan is moving forward with plans to strengthen its regional trade ties and diversify its economy by establishing a new special economic zone in the Kyzylorda Region. The initiative aims to attract investment, boost local industry, and improve access to Central Asian markets.

Prime Minister Olzhas Bektenov signed a decree on Monday to create the Korkyt Ata Special Economic Zone (SEZ) that will cover 550 hectares and operate as a customs control area with port SEZ status. The new SEZ is a major step toward enhancing Kazakhstan’s role as a regional trade hub.

Strategically located near the Western Europe-Western China international transport corridor, the zone will benefit from direct access to Kazakhstan’s largest highway, which spans 8,445 kilometers (5,247 miles). This prime location is expected to facilitate efficient transportation and logistics, linking the country more closely with neighboring markets.

The Korkyt Ata SEZ is designed to attract both domestic and foreign investment, promote private sector growth, and expand the country’s logistics and tourism potential. Officials estimate that by 2049, the zone will attract more than 150 billion tenge ($293.6 million) in investments, including up to 80 billion tenge ($156.6 million) from foreign sources.

The site is expected to produce 500 billion tenge ($978.8 million) in goods and services over the next 25 years, with up to 90 percent of that output sourced from within Kazakhstan. In addition, the SEZ is projected to create over 3,300 jobs and host 39 resident companies during that period.

To support broader economic development, the government has also extended port SEZ status to five other zones, including Ontustik, Astana-Technopolis, Saryarka, Alatau, and Aktobe, as part of a strategy to develop multimodal air hubs across the country.

Kazakhstan currently operates 14 Special Economic Zones, which have become key tools in the country’s drive to reduce dependence on natural resources such as oil, gas, uranium, and metals. These zones play a critical role in expanding Kazakhstan’s industrial base and encouraging innovation.

Since the early 2000s, SEZs in Kazakhstan have drawn over 2.7 trillion tenge ($5.5 billion) for developing business activities within the zones and another 4.1 trillion tenge ($8.3 billion) in infrastructure development. These initiatives have allowed the country to manufacture previously imported goods, including helicopters, rifle optics, locomotives, and electric trains.

Fonte/Foto: Caspian News

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