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Projects worth $600M underway in Kazakhstan's Almaty industrial zone

Business Materials 29 November 2018 12:59

Baku, Azerbaijan, Nov. 29

By Rashid Shirinov – Trend:

More than 40 large projects worth $600 million are being implemented in the industrial zone of Kazakhstan’s Almaty, the city mayor Bauyrzhan Baibek said at the 6th International Investment Forum Almaty Invest.

He told the participants about the benefits of doing business in Almaty, Kazakh media reported.

"In Almaty, it is profitable to build a business in terms of capital and operating costs. Land plots with ready transport and engineering infrastructure are provided on preferential terms," Baibek said.

He also noted that favorable conditions for high-tech companies were created in the special economic zone Park of Innovative Technologies.

"The Park has a simplified procedure for hiring workers, and there are customs and tax benefits. The SEZ can become a cluster for precision engineering, medicine and biotechnology," the mayor said.

He also said that ‘economy of simple things’ is actively developing in Almaty.

"For instance, projects of KazTigerTape company for the production of adhesive tape and plastic film, Kellet company for the construction of gas boilers, and Inter Multi Service plant for the production of cardboard and paper will be launched until the end of the year," Baibek said.

It is worth noting that more than 500 delegates from around the world take part in Almaty Invest 2018. The guests include well-known politicians, world and Kazakh business leaders, heads of investment corporations, financial institutions and international organizations.

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