Kazakhstan set to roll out 180 industrial projects worth 1.2 trillion tenge

Kazakhstan set to roll out 180 industrial projects worth 1.2 trillion tenge

Kazakhstan plans to implement 180 industrial projects valued at 1.2 trillion tenge this year. According to the Prime Minister’s press service, the country’s economic strategy aims to reduce dependence on raw material exports and foster the expansion of high-value-added sectors, thus stimulating industrialization and accelerating its pace. Last year alone, 170 projects worth 928 billion tenge were implemented in the manufacturing industry. Also, 179 long-term contracts were signed with local manufacturers. These measures have already equalized the manufacturing industry’s contribution to Kazakhstan’s GDP with the share of extractive industries. The implementation of additional industrial projects is expected to elevate the country’s economy to a new level. Accelerating the industry’s development pace entails the introduction of a new mechanism for supplying domestic raw materials to the manufacturing sector. The Comprehensive Plan for the Development of Mechanical Engineering until 2028 anticipates a 4.5-fold increase in the overall value added by the industry.