ASTANA, Kazakhstan, March 23. The President of Kazakhstan initiated four large-scale infrastructure projects for 2024, State Advisor of the Republic of Kazakhstan Erlan Karin said at a briefing for foreign media in Astana, Trend reports.
“President Tokayev recently unveiled a series of new measures and initiatives, including the launch of several large-scale economic programs. The first program focuses on the development of road infrastructure, with plans to construct and repair over 12,000 kilometers of roads this year. Additionally, there are intentions to modernize utility networks, which entails upgrading 55 heat sources and at least 6,500 kilometers of utility networks,” he said.
Furthermore, Karin noted that a new housing program is set to roll out in the country, aiming to significantly increase the volume of rental housing. Additionally, around 1,700 kilometers of gas networks will undergo modernization, expanding gas access to over 300,000 citizens, he added.
Karin emphasized the country's ambition to double GDP by 2029 and achieve an economic volume of $450 billion.
“To realize this objective, the President announced fresh initiatives to diversify the economy, including incentives for investors venturing into the manufacturing sector. Investors in this sector will enjoy a three-year tax holiday, alongside other business incentive measures aimed at facilitating increased lending from banks to businesses,” he explained.
