Manufacturing industry accounts for 30% of Kazakhstan’s economy

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ASTANA (TCA) — Implementation of the State Program of Industrialization gives real results, the First Vice Minister for Investment and Development Alik Aidarbayev told a press conference following the meeting of the Kazakh Government on August 22, the official website of the Prime Minister of Kazakhstan reported.

 

The Vice Minister noted that the goal of the State Program of Industrialization is diversification of production and growth of the manufacturing sector.

“Our economy, you know, needs diversification. This program has been implemented for several years. The results are obvious. Every year the growth of the manufacturing industry is visible,” the Vice Minister said.

Today the share of the manufacturing industry in Kazakhstan’s GDP is 12 percent and in the economy as a whole 30 percent, Aidarbayev said.

In his words, the manufacturing industry has become the main driver of Kazakhstan’s industrial growth.

Aidarbayev said that in January-May 2017, the export of the manufacturing industry was $6.2 billion, an increase over the previous period by 27.8 percent.

Aidarbayev also said that 40 projects will be implemented with the participation of foreign investors as part of the Industrialization Map.

In addition to the projects of the Industrialization Map, it is planned to implement more than 100 projects in the Special Economic and Industrial Zones for a total of 280 billion tenge, and to provide 6,800 people with new jobs.

Sergey Kwan

TCA