'Baiterek' successfully implements investment projects in Kostanay rgn

Government has developed and implemented an unprecedented government support for foreign investors in priority sectors, including tax incentives and removal of administrative barriers. This is due to Japanese and Russian investors, who collaborate with a group of holding companies "Baiterek" and successfully implement their projects in Kazakhstan. President of Kazakhstan Nursultan Nazarbayev has recently visited Kostanay rolling mill, built in the framework of the project of the Russian holding "Evraz". The plant has already started to produce construction rebars and steel rolled stock. 250 people have already been working at the factory, and labor productivity is estimated to KZT 65 million per employee within a year. The Head of State also has visited automobile factory SaryarkaAvtoProm LLP, where ‘Toyota Fortuner and SsangYong Nomad cars have been started to produce. The cost of the project is USD 58.43 million. "The production of this level in Kazakhstan was made possible thanks to the support of the state. We are very grateful to the President for assistance in the development of Kazakhstan's automotive industry. At present domestic manufacturers may use different preferences, privileges, take part in programs under development and lease fixed assets at small interest", said the President of "Allur Group" Andrey Lavrentiev. These two projects, the implementation of which has been made possible thanks to the integration initiatives of President Nursultan Nazarbayev, as well as the financial support of a group of companies under Baiterek holding are a good example for the further development of the domestic industry.