Special economic zones attract investments
Special economic zones are effective platforms for attracting investments. The key to success is well organized business conditions. The participants of special economic zones are freed from corporate income tax, property and land tax as well as value added tax. Entrepreneurs are attracted to developed infrastructure sites. Foreign investors were introduced to opportunities of Kazakhstan’s special economic zones at the last international forum in Karagandy. 11 economic zones have been created to develop region’s industries. For example, the Saryarka special economic zone in Karagandy is involved in metallurgy and heavy engineering. The economic zone produces insulated pipes, refractory materials, ball valves and steel from recycled vehicles. It is planned to implement 6 more investment projects.
ALMAZ AIDAROV, DEPUTY GOVERNOR, KARAGANDY REGION:
- What are the benefits from our special economic zones? First, Karagandy has a potential and it is an industrial site where raw materials and cheap electricity are abundant. This is very important for metallurgy. Now we are ready to give each participant up to 50 megawatts at once.
MIKI WAJIMA, HEAD, JAPANESE DELEGATION:
- Investments between Kazakhstan and Japan have increased by 9 times. This is a good indicator. However, the potential is not fully used yet. We need more joint projects. We are interested in ecology and water technologies. We visit the regions and demonstrate the Japanese achievements in water supply and water treatment.
The main goal of the Ontustik economic zone located in southern Kazakhstan is to create conditions for development of the textile and clothing industry and production of competitive goods with high added value. Today 10 factories are already functioning in the Ontustik special economic zone. In order to attract new investors and to present the potential of the site, the Ontustik top managers visited the Istanbul Chamber of Commerce and held the B2B meetings with the thirty largest companies of the Turkish manufacturing industry.
MEDEU DILDABAYEV, CHAIRMAN, ONTUSTIK SPECIAL ECONOMIC ZONE:
- We know that Turkey occupies a leading position in production of textile products. We are interested in sharing experience and inviting them to official visit. We want them to share their experience with our participants in the special economic zone that develops the textile industry.
By the end of 2018, 17 new production facilities financed by domestic and foreign capital will open in the Ontustik special economic zone. Four of them will function by the end of this year.