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Wednesday, September 18th, 2019

Over the years of industrialization, labor productivity in processing industry increased by 1.2 times – Ministry of Industry and Infrastructure Development

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by December 29, 2018 Business

The growth from $29.6 thousand to $31.4 thousand was reached in the course of industrialization years (an increase of 3.6%). Definitely, many factors affect labor productivity, but the state provides support, and this has its effect. Any modernization, introduction of digital technologies entails an increase in labor productivity, which is a key factor in the competitiveness of products. We are constantly working on this, said Sklyar.

At the same time, the first vice minister noted that one of the key constraints to productivity growth is the technological level of development of the manufacturing industries.

In order to support our enterprises, the state uses various incentive tools. Thus, the program ‘Productivity � 2020’ provides a number of mechanisms that we use. About 500 million tenge was paid in 2018 to enterprises for applying new technologies, subsidies were given for research and development work, and leasing loans through the Development Bank of Kazakhstan, which allows companies to technologically re-equip and be competitive. In addition, special export support programs also stimulate enterprises when entering foreign markets, which naturally entails an increase in labor productivity, said Sklyar, stressing that the ministry’s task is to provide enterprises with all the mechanisms of state support.

Source: The Prime Minister of Kazakhstan

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