BAKU, Azerbaijan, January 5. Kazakhstan will allocate around 1.6 billion Kazakh tenge ($3.4 million) for measures aimed at supporting its industrial production in 2023, Trend reports, with reference to the press service of the Ministry of Industry and Infrastructural Development.
The funds will be allocated in the form of industrial grants. The ministry will continue to allocate funds for the modernization of technological equipment by co-financing the costs of the purchased equipment with local enterprises.
According to the ministry, 50 percent of the costs, up to 750 million Kazakh tenge ($1.6 million) will be covered in the framework of industrial grants.
Kazakhstan will also host several high-profile events to stimulate industrial growth.
The statement issued by the ministry indicates that Astana Mining & Metallurgy 2023 will be one of the key events planned to be carried out this year. The event includes B2B and G2B meetings with the largest subsoil user companies and representatives of the Kazakh government, exhibitions, as well as networking.
Previous editions of this event enabled attracting investment and the conclusion of new contracts.