Kazakhstan is deeply committed to diversifying its economy outside of the lucrative energy and mining sectors. There are numerous other sectors where the country shows high growth potential in the coming years and the government is actively supporting investment in these areas through legal and financial means.
In June 2014, Kazakhstan announced that foreign investors in non-energy sectors would receive a 10-year tax break on corporate and land taxes.
Special Economic Zones that focus on priority growth sectors allow for additional investment benefits, such as exemptions for corporate income taxes and rent-free land for 10 years.
The identified priority sectors are part of the government’s State Program of Accelerated Industrial and Innovative Development (SPAIID), a cornerstone of its economic goals.