Kazakhstan’s special economic zones fail to boost exports, investment data shows
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Kazakhstan’s 18 special economic zones have contributed just 1% of GDP and 0.3% of exports over 25 years, an analysis by Vlast.kz reveals, citing official data. The zones attracted 11.2 trillion tenge in declared investments, but internal ministry figures show only 4.7 trillion tenge in actual inflows. The government ordered a reform of the SEZ model in February after President Tokayev acknowledged the system’s exhaustion.
Production Concentration
One zone – ‘Astana — New City’ – accounted for 7.9 of the 10.7 trillion tenge in total SEZ output. Only three other zones – IT Park, ‘Ontustik’, and Aktau Seaport – were deemed effective by the High Audit Chamber. The remaining 14 zones showed negligible contributions, leaving the system heavily dependent on a single site.
Investment Data Gaps
The Ministry of Industry and Construction stated total attracted investment at 11.2 trillion tenge, but an attached appendix listing each zone’s figure summed to only 4.7 trillion tenge. The discrepancy – revealed in response to a Vlast.kz inquiry – raises questions about the accuracy of official reporting. Quasi-state enterprises provided over 65% of recorded investments, further clouding the role of private capital.
Export Failure
Exports from all SEZs totaled just 1.1 trillion tenge, or 7% of total production, meaning 93% of goods were sold domestically. The zones were designed to boost global market penetration but have instead become largely domestic producers. The overall export share of the zones is just 0.3% of national exports.
What's Next
The government is developing a new SEZ development model due within three months of the president’s February order. Whether the upcoming reform can resolve the concentration, data opacity, and low export orientation remains uncertain.
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Kazakhstan’s special economic zones fail to boost exports, investment data shows
