ASTANA, Kazakhstan, April 8. Kazakhstan's manufacturing industry grew by 7.4 percent from January through February 2024, said Minister of Industry and Construction Kanat Sharlapaev during a meeting with President of Kazakhstan Kassym-Jomart Tokayev, Trend reports.
"From January through February 2024, Kazakhstan's manufacturing industry grew by 7.4 percent, especially due to mechanical engineering, metallurgy, chemistry, and light industry. It is planned to introduce 180 projects worth 1.5 trillion tenge (about $3.35 billion). Thanks to these projects, 17,800 jobs will be created," he said.
Speaking about the construction industry, the minister noted that last year 157,000 houses were built, and this year 172,000 are planned.
"More than 300 billion tenge (about $670 million) will be allocated for the construction of 22,000 rental apartments. A program with financing of 300 billion tenge will be launched through Otbasy Bank, which will make it possible to provide citizens with 12,000 mortgage loans," he said.
The minister pointed out that the digital platform E-Qazyna.kz was introduced to conduct auctions for subsoil use rights in electronic format, which significantly increased their transparency and accessibility. Participation in the auctions by major global companies, including Rio Tinto and Fortescue, points to intensifying competition for the opportunity to explore potentially resource-rich deposits in Kazakhstan.
Meanwhile, the volume of manufacturing production in Kazakhstan amounted to 21.6 trillion tenge (about $48 billion) in 2023. Thus, production volume increased by 4.1 percent compared to 2022 (20.7 trillion tenge, or about $46 billion).
At the same time, the volume of investments increased by 11.2 percent and amounted to 1.7 trillion tenge (about $3.77 billion).
At the end of 2023, 170 investment projects totaling 928 billion tenge (about $2 billion) were launched, and more than 12,000 jobs were created. Exports of manufacturing products amounted to $25.3 billion.