President Kassym-Jomart
Tokayev began his working trip to the Almaty Region with a presentation on the
development of Alatau. The city currently covers 88,000 hectares and is divided
into four zones, which will be developed in stages through 2050. A total of 53
investment projects worth more than 2 trillion tenge are planned. Construction
is already underway on Central Asia’s largest potato processing plant, along
with several feed and pharmaceutical production facilities. A logistics cluster
is also being developed. In addition, the Head of State was presented with the
project for Alatau’s flagship multifunctional complex.
At a meeting on the development of Alatau, President Tokayev emphasized that the project is of strategic importance for the entire country. The city is expected to become a hub of business activity and innovation. Alatau can already be described as a «city of accelerated development with a unique legal status», he noted. To support this, a solid legal framework has been established, including tax incentives and simplified regulations for business activity. The groundwork has already been laid in the Constitution.
«For the effective functioning of the special regime, a unified legislative system must be established. An open, transparent, and high-quality legal framework is required to regulate all key aspects of business activity and daily life within the city. This system should include two levels: the constitutional level, which has already set the fundamental principles, and the regulatory level, which will define legal mechanisms applicable to each area of economic activity,» Tokayev said.
Alatau City is set to become the first fully digital city, integrating infrastructure, urban services, and the economy through big data, advanced technologies, and smart governance. This will entail expenditure, and therefore, the Head of State noted that a revenue base must also be established. The Alatau City Development Council, together with the city administration, has been tasked with developing an effective financial and economic model to ensure long-term sustainable growth, as well as approving the city’s strategic development plans. As the President noted, both investors and residents should have a clear understanding of what Alatau will look like in 10, 20, and 30 years.
«To compete successfully with leading international hubs, Alatau must establish an appropriate legal framework, including a zero tax rate on digital asset transactions and capital gains within the jurisdiction. The practical implementation of the real-sector tokenization project should also be accelerated, including the tokenization of real estate, infrastructure facilities, and commodity assets. This would help create a sustainable and in-demand market for digital financial instruments,» Tokayev added.
For their significant contribution to the development
of the Almaty Region, the Head of State awarded state honors to a number of regional
residents.
Related Articles
