A vast steppe nation of 17 million,
Nazarbayev, who has kept a tight lid on dissent but has overseen the opening up of markets, wants to sustain economic growth which accelerated to 6 percent last year from 5 percent in 2012.
But in order to do so,
"We want to create a new type of industry in our country. Historically, we were a raw materials-producing appendage of the
In addition to suspending land and corporate tax for 10 years, foreign investors will be exempted from paying tax on non-land assets for 8 years and be reimbursed 30 percent of the costs of building new plants.
The land-locked country would also allow non-oil investors to bring in foreign labourers without any quotas or permits to work for one year after the launch of a new business.
The 73-year-old former steelworker and member of the
Nazarbayev also suspended the requirement for visas for business executives from countries that have invested steadily in
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