BAKU, Azerbaijan, February 13. Kazakhstan will implement 868 new projects aimed at the modernization of the manufacturing industry from 2023 through 2029, Trend reports, citing the press service of the Prime Minister of Kazakhstan.
The overall cost of the projects is estimated to be around 33.1 trillion Kazakh tenge ($73.19 billion).
The projects will be carried out as a part of the new concept aimed to revitalize and develop the manufacturing industry.
The government forecasts that the successful execution of the projects will result in 1.5 fold increase in production output by the end of 2029.
Alikhan Smailov, the Prime Minister of Kazakhstan, noted that the implementation of the projects will make the manufacturing industry the cornerstone of the new architecture of Kazakhstan’s industry.
Recently, Kazakhstan adopted concepts aimed to modernize and improve the efficiency of several sectors of the economy, including agriculture, the petrochemical industry, and the transport sector.
The simultaneous modernization of several fields of the economy is aimed to boost the industrial output of the country, open new possibilities for foreign investments, and modernize the economy of Kazakhstan.