Almaty region creates G4 City special economic zone

KONAYEV. KAZINFORM The Government decreed to establish a special economic zone G4 City in Almaty region covering 30,000 hectares until 2048, Kazinform has learnt from the primeminister.kz.

It is situated northwards Almaty along the Almaty-Konayev highway A3. Its territory has a special legal regime. The new economic zone is expected to provide a favorable climate for attracting domestic and foreign investments into building an integrated city G4 City, which in turn, is called to give new impetus to the development of the entire region.

It is expected to attract some 3.7 trillion tenge of investments, produce goods and services worth more than 17 trillion tenge and create some 60,000 new jobs. The new economic zone is purposed to boost tourist, medical, transport and logistics, educational, cultural infrastructure in the G4 City. Its legal regime will let reduce capital expenditures to built facilities.

The G4 City will include four districts, namely, The Gate City (a business and financial centre), The Golden District (an educational and health hub), The Growing District (an innovative and industrial, trade and logistics zone) and The Green District (a tourist cluster). Some 2.2 million people are expected to live there.

The decree takes effect from the day of its signing.