BAKU, Azerbaijan, Sept. 29
Trend:
The President of the Republic of Kazakhstan gave a specific instruction to increase the volume of the manufacturing industry by 1.5 times by 2025. In order to implement it, specific measures were approved, Trend reports, referring to the statement of Vice Minister of Industry and Infrastructure Development of Kazakhstan Marat Karabayev.
The volume of the manufacturing industry in 2020 amounted to 13 trillion Kazakh tenge ($30.5 million). It is planned to increase it up to 19.5 trillion Kazakh tenge ($458.8 million). To achieve this indicator, the volume index should grow annually within 4 - 5 percent.
"The growth of the physical volume index in the manufacturing industry from January through August 2021 amounted to 5.8 percent. The largest growth was shown by pharmaceuticals, processing of building materials – by more than 10 percent, and mechanical engineering," the speaker said.
"Among the manufacturing sectors, the pharmaceutical and machine-building industries are dynamically developing. The growth in 2020 was 16 percent, compared to 24 percent for 8 months of 2021. The volume in mechanical engineering in 2020 exceeded the figures in ferrous metallurgy by 10 percent for the first time. That is, 1.8 trillion Kazakh tenge ($4.2 million)," he added.
Work is being carried out in two directions to increase the manufacturing industry by 1.5 times. The first is to ensure the stable operation of manufacturing businesses. More than 17,000 facilities are currently working in this area. The second goal is to launch new projects every year. Some 128 new projects are to be commissioned in 2021. In total, 1.2 trillion Kazakh tenge ($2.8 million) of investments will be attracted to the Kazakh economy, as well as more than 12,000 new jobs will be created.