Almaty. January 21. Information Center - The year 2020
was harsh for many economies worldwide with capital cities everywhere going
into lockdowns. For the Kazakh capital of Nur-Sultan, however, the last year
has become a record one, as it attracted 1.1 trillion tenge (US$2.6 billion) of
investments in 2020, according to the city’s press service, The Astana Times
It is 20 percent more compared to 2019. Small businesses
remain major investors in the city.
“During the quarantine period, for example, construction
works were not suspended, but continued under strict sanitary regulations. In
2020, more than three million square metres of housing were built and
commissioned in the capital, which is almost twice the size of what we had in2019,”said Yerlan Bekmurzaev, head of
the city’s department of investment and business development.
All meetings of the regional council for investments are now
held online. In 2020, there were 16 such meetings that approved over 110
projects, including in education, healthcare, industry, transport and
logistics, sports, and housing.
“Due to the spread of coronavirus since last year, projects
on the production of personal hygiene and personal protection products are in
higher demand. A number of projects were supported in this area. Several
enterprises decided to refocus their activities on the production of medical
masks, and protective suits. We work with each investor individually,” said
Astana Invest, a company tasked with attracting investments,
has a regional front office that supports investors based on a one stop shop
mechanism and across all stages of development.
According to Astana Invest, investors can be entitled to
different state support mechanisms. One of them is an investment contract that
may offer preferences, such as exemption from customs duties, corporate income
tax and value added tax on the import of raw materials, as well as a full-scale
Establishing an enterprise in a special economic zone will
also grant preferential conditions, including zero percent corporate income
tax, property tax, value added tax (VAT) on import, customs duties and land
tax. There are currently the Astana-New City and Astana Technopolis special
economic zones operating in the capital.