Kazakh export of equipment to increase by 30%
Baku, Azerbaijan, August 2
By Nargiz Sadikhova - Trend:
The value of manufacturing in mechanical engineering of Kazakhstan increased by 13.4 percent during 1H2019 and amounted to 553 billion tenge, Trend reports with reference to the Ministry of Industry and Infrastructural Development of Kazakhstan.
“During the reporting period, 128 projects worth 367 billion tenge were put into operation, whereas another 10 projects worth 54 billion tenge are still in the process of implementation,” the report said.
“Some $13 billion accounts for import of the mechanical engineering products and about $3 billion accounts for local manufacturing. The top three types of imported goods include electric equipment, oil and gas equipment and cars manufacturing. Currently, there are over 2,600 mechanical engineering ventures,” the statement said.
“In order to further develop the industry, the ministry and Association of Kazakhstan Machinery Industry developed a roadmap for development of mechanical engineering for 2019 and 2024, which was approved by the Prime Minister Askar Mamin on June 26, 2019,” said Vice Minister of Industry and Infrastructural Development Amaniyaz Yerzhanov.
"The roadmap includes 57 activities, which are distributed among 11 areas. The roadmap’s implementation will allow to double the manufacturing volume and to increase export by 1.2 times,” the report said.
“Furthermore, following the successful implementation of key points of the roadmap the manufacturing volume will be increased to two trillion tenge, efficiency of labor to $24,000, of export by 30 percent in 2024,” the statement said.
(1 USD = 385.35 KZT on August 2)
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