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Wednesday, December 19th, 2018

For development of industry, appropriate institutions created: Ministry for Investments on increasing exports of processed goods 2.3 times by 2025

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by December 4, 2018 Politics

Vice Minister for Investments and Development Timur Toktabayev noted that in Kazakhstan the main attention is paid to the manufacturing industry.

We are now working at a unique time, two five-year plans have passed and laid the legislative and infrastructural basis. The necessary institutions have been created for the development of industry. All this is for us to be able to provide measures of state support. We have a single economic space, a huge market, now our products can move freely, conquer new niches and receive additional profits, said Toktabayev.

According to the vice minister, all additional conditions will be created for this. For existing enterprises that produce export products, comprehensive assistance will be provided.

According to Batanov, Chairman of the Committee for Industrial Development and Industrial Safety sets ambitious goals to improve the manufacturing industry. It is expected that by 2025, labor productivity will increase by 1.7 times, and investment in fixed assets will double.

Exports of processed goods and the number of existing enterprises will increase 2.3 times. In addition, according to the Harvard’s Economic Complexity Index, we are at 84th place. We expect to rise to 55th place, Batanov said.

Source: The Prime Minister of Kazakhstan

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