KAZAKH INVEST Discusses Progress of the Alatau City Project
Chairman of the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan Gabidulla Ospankulov and Chairman of the Management Board of JSC "NC "KAZAKH INVEST" Yerzhan Yelekeyev held a meeting with representatives of the South Korean "Innovations without Borders. The steadily developing city of Alatau" working group to discuss the implementation of the project to create the 1st special industrial zone, TULIP, in the Growing area of Alatau City.
The 1st industrial zone should serve as a foundation for forming a new city, where creating many jobs will lead to a concentration of people in the new territory. Thus, representatives of the working group said they are considering the possibility of launching 3 anchor projects in the zone with the involvement of South Korean and Chinese investments. Proposals were also put forward to develop an international concept with KPMG Korea, bring Smart City infrastructure, and attract several industrial families from South Korea to create the zone.
During the meeting, the parties discussed the measures of state support necessary for implementing the project. Thus, government agencies should ensure the construction of engineering networks and roads, preferential changes in the purpose of land plots, preferential financing, and revision of the Republic of Kazakhstan's industrial legislation.
The implementation of the project will ensure the creation of an automotive cluster and the construction of manufacturing facilities with technology transfer from South Korea, which, in turn, will lead to the creation of about 8,000 jobs and attract investments of $600 million. The main goal of the project is the development of the manufacturing industry and the modernization of agriculture within the framework of the strategy "Kazakhstan-2050."
