Free Economic Zone to Be Established in Qyzylorda Region

A new free economic zone will be established in Kazakhstan’s Qyzylorda Region, Orda.kz reports, citing the Government of the Republic of Kazakhstan.

Plans for the new zone, named “Qorqyt Ata,” covering 550 hectares, were first announced last week by the Qyzylorda regional administration. Today, Prime Minister Olzhas Bektenov signed the official resolution approving its creation.

Regional authorities had emphasized the proximity of the new FEZ to the Qyzylorda airport.

Meanwhile, the government statement highlighted its location near the “Western Europe–Western China” highway. Officials expect this proximity will facilitate the distribution of goods produced in the zone both within Kazakhstan and to other Central Asian markets.

The FEZ will operate under a special legal regime offering tax and customs incentives. Over the next 25 years, the zone is expected to create 3,366 new jobs, with the number of participating companies reaching 39,the government said in a statement. 

The same decree also granted “port zone” status to several existing free economic zones: “Astana – Technopolis” in the capital, “Ontustik” in Shymkent, “Saryarka” in the Qaraganda region, and both “Alatau” and “Aqtobe” in their respective regions.

Original Author: Igor Ulitin