Kazakhstan aims to boost machinery exports nearly threefold

Kazakhstan plans to increase the volume of mechanical engineering. Thus, over 150 projects in the industry worth 1.7 trillion tenge are planned to be implemented by 2028. Of these, 29 projects worth 217 billion tenge will be launched this year. These include not only automobile manufacturing enterprises but also production facilities in railway, agricultural, electrical, oil and gas, mining and metallurgical engineering.  Overall, the country intends to increase production more than twofold and the volume of exports threefold in five years. According to the Kazakh Ministry of Industry and Infrastructure Development, foreign capital investments in the country’s machinery industry hit a record high of about $500 million last year. The figure amounted to more than $200 million for the first quarter of this year alone.

“It bears noting that among the manufacturing industries, machinery is the most dynamically developing one. While in the past five years, the average growth rate of the manufacturing industry was 4.5 percent, the machinery industry showed an increase of 17.6 percent. Among the projects planned for implementation, there are joint projects with partners from Russia, China and Uzbekistan,” said Marat Karabayev, Kazakh Minister of Industry and Infrastructure Development.

As noted by Kazakh Prime Minister Alikhan Smailov, it will be possible to achieve high performance in the industry through the implementation of the comprehensive plan for the development of mechanical engineering, which is currently under development.

“Thanks to state support, domestic enterprises will be able to contribute to the socio-economic development of the country by creating permanent jobs, as well as opening new and modernizing existing production facilities. The country’s Ministry of Industry and Infrastructure Development should intensify work on the implementation of plans for the machinery industry development,” noted Smailov.