BAKU, Azerbaijan, Sept. 15
By Nargiz Sadikhova - Trend:
A total of 206 projects the total cost of which will be 996 billion tenge ($2.3 billion) will be commissioned in 2020 within the framework of the Industrialization Map of the State Program for Industrial and Innovative Development for 2020-2025, Trend reports with reference to the press office of Kazakhstan’s prime minister.
The topic of State Program for Industrial and Innovative Development for 2020-2025 implementation was discussed during a government meeting on Sept. 15, 2020.
Despite the difficult conditions of the pandemic and the global recession in the economy, the manufacturing output increased by 3.3 percent over the course of eight months of 2020.
The commissioning if the 206 projects will further increase production output by 1.3 trillion tenge ($3.04 billion), and exports by 325 billion tenge ($757.1 million).
The majority of the projects will be implemented in mechanical engineering (19 projects for 170 billion tenge or $398.7 million), mining and metallurgical complex (18 projects for 190 billion tenge or $445.7 million), agribusiness (76 projects for 195 billion tenge or $457.4 million), energy (10 projects for 126 billion tenge or $295.5 million).
The Industrial Development Fund which is being created currently will also facilitate the expansion and modernization of existing enterprises through affordable lending at a rate of no more than 3 percent.
This year the most capital-intensive projects are being implemented in the Karaganda, Aktobe, Almaty, Zhambyl, Pavlodar regions and Almaty city.
Thus, a project for the production of tires with a capacity of up to 3.5 million per year, of which 30 percent is planned to be exported is being developed at the moment.
The Ministry of Industry and Infrastructure Development was instructed to develop and submit to the government a draft concept of the Law On Industrial Policy’ by the end of October 2020.
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