ASTANA – Kazakh Deputy Prime Minister Kanat Bozumbayev presented the Alatau City project to Korean investors during the Alatau Rise with Kazakhstan international roadshow on Oct. 15 in Seoul, highlighting opportunities for cooperation in technology, energy, and urban innovation.
Kanat Bozumbayev presented the Alatau City project to Korean investors. Photo credit: Prime Minister’s press service.
Envisioned as a future hub for technology companies and export-oriented industries, Alatau City spans 88,000 hectares at the crossroads of major transport routes. The area has been designated a special economic zone, offering full exemptions from corporate, land, and property taxes, as well as a zero VAT rate on internal trade.
Following a recent presidential decree granting Alatau the status of an advanced development city, its governance will be overseen by a council chaired by the Prime Minister, ensuring direct coordination with the government, reported the Prime Minister’s press service.
Bozumbayev emphasized Kazakhstan’s interest in expanding partnerships with South Korea in electronics, renewable energy, medicine, education, and the digitalization of urban services.
“More than 800 Korean companies are working in Kazakhstan. We are open to mutually beneficial cooperation and invite you to participate in the Alatau City national project,” he said.
The event also featured the signing of several memoranda of understanding between Kazakh and Korean ministries, development agencies, and universities, including agreements to promote green energy, transport infrastructure, and the creation of a new university in Kazakhstan.
