ASTANA (TCA) — Kazakhstan plans to manufacture not less than 200 thousand motor vehicles by 2025, as well as export them to Russia and Central Asian states, Novosti-Kazakhstan news agency reported citing Minister for Investment and Development Zhenis Kasymbek.
“In the automobile industry, we plan to produce not less than 200 thousand vehicles by 2025, achieve a 50-percent production localization in the next 3-4 years, and start automobile exports to Russia and Central Asia,” Kasymbek said at the meeting on the results of Kazakhstan’s industrialization in the first half of 2016, held in Astana on July 1.
The minister added that automobile exports will start this year.
He also said that by 2020, the production and export in Kazakhstan must grow up to 22 and 19 percent respectively. This will require around 4.5 trillion tenge of investments in the basic capital of the processing industries. “We plan to attract around four tenge of private investment per each tenge of state-budget funds,” he said.
It was earlier reported that in January-May this year, Kazakhstan’s automobile industry showed the first signs of recovery.
According to the country’s union of automotive enterprises KazAutoProm, in January-May 2016, Kazakhstan manufactured 2,636 motor vehicles.
“Kazakhstan’s automobile industry was among industries that have suffered the largest losses due to the volatility in the currency market and worsening of the macroeconomic background in 2014 and 2015,” the union’s press service said.
KazAutoProm said that expansion of budget car models by domestic car-makers will help recover Kazakhstan’s automobile production in the second half of this year.
