Astana’s economy is seeing progress and positive growth
Astana’s economy is seeing progress and positive growth. The main progress drivers are construction, trade and services sectors. Gross regional product made up four trillion eight billion tenge in 2016 compared to sixty billion tenge in 1998.
MADIYAR KENZHEBULAT, ECONOMIST:
- Gross regional product will possibly total over five trillion tenge in 2017. GRP has grown over eighty times from sixty billion tenge to five trillion tenge. It is twice more than the GDPs of such countries as Kyrgyzstan and Tajikistan.
Growth of investments also contributed to Astana’s dynamic development. According to data provided by the Institute of Economic Research experts, 25 billion tenge was attracted twenty years ago and one trillion tenge was attracted last year. Many businessmen have been able to appreciate Astana’s attractive business climate. Brazilian restaurant owner Roberto Dos Santos started his business in Astana six years ago. Prior to that, the chef lived in New York, Moscow and other large cities around the world. The restaurateur believes that the government has established business-friendly environment in Kazakhstan that includes healthy competition and favorable tax regulations.
ROBERTO DOS SANTOS, RESTAURATEUR:
- I had never been in Kazakhstan before prior to moving here. I was invited in 2011 for the first time and liked this place. Doing business here is peaceful and pleasant if you do the right things, like, for example, pay your taxes and follow the law.
Assylkhan Manatov was one of the originators of the Electrotechnical Plant in Astana. The plant workers started manufacturing small electrical substations and distribution boards in 2012. They sold items worth 143 million tenge in the first year. Llast year’s sales totaled three billion tenge. The enterprise management notes that Astana’s rapid development promoted this growth.
ASSYLKHAN MANATOV, SPOKESMAN, ASTANA ELECTROTECHNICAL PLANT:
- About 80% of orders come from Astana. Our main customers are construction companies. Many manufacturing workshops are opening on the territory of Astana. There is progress, we can see the development. Our figures show that new enterprises are opening in Astana and it also benefits us.
The number of companies in Astana is growing every year. Over 100 thousand enterprises are registered in Astana including those with foreign capital. In the first half of 2017, the companies expanded the manufacturing output by more than 55%. Correspondingly, financing from the Treasury grew 80 times and Astana’s Gross Regional Product grew 190 times in the past twenty years. Two years ago, Astana became a donor to the budget for the first time transferring 900 billion tenge to the Treasury.