Tokayev entrusts Government with adopting a new model for SEZ development

The Head of State reminded that in his State-of-the-Nation Address he had set the task of fully utilizing the potential of special economic zones. He noted that in a number of countries, including China and Vietnam, special economic zones act as drivers of economic growth, whereas in Kazakhstan their effectiveness remains extremely low and does not correspond to the objectives of structural economic transformation.

“Over nearly 25 years, their contribution to GDP has amounted to just over 1%, to exports - 0.3%, and to attracting foreign investment - 0.9%. The current model of SEZ operations has completely exhausted itself,” stated the President.

Tokayev emphasized that SEZs must become full-fledged platforms for attracting investment, where new regulations, instruments, and service solutions are applied with subsequent scaling.

The Head of State drew attention to the fact that about one trillion tenge in borrowed funds is proposed to be allocated over three years solely for the development of SEZ infrastructure. According to him, without restructuring the SEZ development model, such massive financial injections will not resolve the accumulated systemic issues.

“ If there is a genuine desire to achieve results, it can be done even with existing resources. This approach was demonstrated by former Governor of Turkistan region, Darkhan Satybaldy. Good experience also exists in Astana. I instruct the Government to approve a new model for the development of special economic zones within three months,” concluded the President.

Earlier, the President set a task to ensure total digitalization of the country’s tax system as soon as possible.