National Economy Minister Discussed Alatau City Construction Financing

Recently, Kazakhstan's authorities agreed on a general development plan for Alatau in the Almaty region, Orda reports.

Minister of National Economy Nurlan Baibazarov explained how finances would be used to build the new high-tech city.

In the corridors of the Majilis, he cited the example of the city of Turkestan, which is being developed using investments.

He said the same financing would be used for Alatau. 

Of course, it will not be built using budget funds, it is not practical. We are creating special economic zones there, the city itself is a special economic zone. The city of Alatau will be built according to this principle. Of course, there are expenses for maintaining local government, these are budget expenses. The akimat and state institutions are being created. They will be taken into account in the budgets of the relevant state bodies, akimats, local budgets, said Baibazarov.

He noted that the project is nascent, and no specific figures or investors have yet been identified.

A working group for construction has been established; Deputy Prime Minister Kanat Bozumbayev will lead it. 

City infrastructure will still be built using budget money. 

There is citywide infrastructure, which will also be partially financed from budget funds, as is currently done in all regions. Of course, I think we will not build hotels and restaurants at the expense of the budget. This should be done by business, and special conditions are created for this, benefits are provided,the Minister added. 

In May 2024, the Government approved the General Plan of Alatau.

Original Author: Ilya Astakhov