Intraterritorial economic zones with privileged financial and legal conditions for private capital have become common practice in many countries. In the post-Soviet space, the effective use of this instrument presents a complex legal challenge. In the context of the intensified competition between countries for global financial capital, the search for effective mechanisms for legal regulation of free economic zones has significantly increased. The Republic of Kazakhstan, taking into account its geopolitical and economic potential, is actively developing and implementing such mechanisms. The desire to strengthen its competitive advantages in the international arena by taking advantage of the specific geopolitical and economic situation has led to the active implementation of such mechanisms and their rapid legal regulation in the Republic of Kazakhstan. The legal framework for the operation of special economic zones in the Republic of Kazakhstan is constantly evolving. The definition of SEZs, their operating principles, and their objectives in Kazakhstan have their own national characteristics: an emphasis is placed on the development of industry and innovation. In Kazakhstan, particular attention is paid to developing and promoting investment attractiveness, economic diversification, and the development of export potential. A pressing task for improving the effectiveness of legal regulation of free economic zones as an instrument of state regulation of the Kazakh economy is the creation of a legal mechanism that ensures a balanced combination of private and public interests.