Tokayev outlines Alatau City project success for Kazakhstan’s economic growth
President Kassym-Jomart Tokayev has declared that the Alatau city project must succeed to unlock a new paradigm of sustainable economic growth for Kazakhstan, Qazinform News Agency correspondent reports.
Kassym-Jomart Tokayev stated this in his speech at the joint session of the chambers of the Kazakh Parliament on Tuesday.
The Kazakh president noted that economic diversification is one of the state's key tasks. He once again mentioned that the country is entering a new investment cycle designed to become the engine of economic diversification.
Diversification is not just a slogan or a beautiful word; it is a very complex and responsible task that cannot be approached superficially, said Kassym-Jomart Tokayev.
According to President Tokayev, last year the gross inflow of foreign direct investment into Kazakhstan increased by 14 percent, exceeding 20 billion US dollars.
The president highlighted the increasing flow of capital into future industries, specifically manufacturing, transport and logistics, digital infrastructure, and the financial sector, which, according to him, will undoubtedly contribute to Kazakhstan's dynamic development.
He also stressed that the Constitutional Law on the Special Legal Regime of the City of Alatau is of particular importance in this context.
The law opens up broad opportunities for foreign and domestic businesses, so we must properly utilize the potential of this unique legislative act. The creation of rapidly developing digital megacities, innovation clusters, and highly productive industries is aimed at transforming Kazakhstan into a high-tech and business hub of Eurasia. If this project, unprecedented in our vast region, succeeds (and success must absolutely be ensured), a completely new model of sustainable economic growth will be established, said Kassym-Jomart Tokayev.
Earlier, the Head of State said Kazakhstan is shifting to a new economic model.
