Kazakhstan: New industrialization should meet new challenges — PM

NUR-SULTAN (TCA) — At the Government meeting on March 26, after listening to reports of the Minister of Industry and Infrastructure Development Roman Sklyar and Minister of Energy Kanat Bozumbayev on the implementation of the state program of industrial and innovative development for 2015-2019, Prime Minister Askar Mamin gave specific instructions, the official website of the Prime Minister of Kazakhstan reported.

“Last year, the processing industry showed a high dynamics and growth of 4.1%. Attracted investments [amounted to] 1.1 trillion tenge. More than 13 thousand jobs have been created,” said Askar Mamin, noting the need to pay attention to a number of issues.

First. Mechanical engineering should be one of the drivers of industrialization.

“The main focus should be on the automotive industry and agricultural engineering, where a significant increase is expected due to industrial cooperation,” Mamin said.

Oil and gas engineering is one of the industries that can give new impetus to economic growth. At the same time, as the Prime Minister stressed, given the growth of the potential of large oil and gas projects in the Tengiz, Kashagan and Karachaganak fields, it is necessary to note the great potential of this sector for further development.

“The field of oil and gas engineering should be one of the priorities of the Third Program of Industrial-Innovative Development,” said the Prime Minister.

Second. It is necessary to ensure steady growth in the metallurgical industry by 4.7%, especially in the ferrous metallurgy segment. Mamin outlined the importance of Arcelor Mittal Temirtau’s positive growth rate.

Third. Askar Mamin instructed to pay special attention to non-primary exports. For support of this direction funds in the amount of 500 billion tenge are provided.

“This will allow us not only to increase the export potential of enterprises, but in general, to provide a significant contribution to economic growth,” said the Prime Minister.

Fourth. It is necessary to develop the “economy of simple things”. For these purposes, on the instructions of the President, funds for 600 billion tenge are provided.

“We have identified the priority sectors of the manufacturing industry and projects. Therefore, there must be concrete results. This will be an additional incentive both for import substitution and for ensuring productive employment of the population. We will actively deal with these areas,” the Prime Minister said, stressing that “new industrialization must meet new challenges.”

Sergey Kwan

TCA