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State Program of Industrial-Innovative Development introduces over 900 projects over 6 years – Ministry of Investments and Development

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by November 25, 2016 Health

Kazakhstan has set up manufacturing of 500 types of products not manufactured in the country prior to the industrialization, the Minister of Investments and Development Zh.Kassymbek informed today.

Over the period of implementing the state program of industrial-innovative development, the real growth in manufacturing amounted to 29.4%, moving ahead the mining industry. The face of industry is changing; new manufacturing sectors are emerging in addition to such traditional industries as metallurgy and food industry. Over the six years of industrialization 900 new projects 4 trillion tenge worth have been introduced. These projects have produced goods more than 7 trillion tenge worth; this is more than $20 billion. We are releasing today 500 new types of products that were not produced in Kazakhstan six years ago. Every year, we are expanding the range of exported goods and the geography of export, Zh.Kassymbek informed at the Investment Congress in Astana.

The Minister noted that the commercialization of innovations is mostly hampered due to the lack of critical mass ready for the introduction of scientific and technological developments.

Over the last 6-7 years the state has allocated a large number of innovative grants, but very few of them have been commercialized, the Minister continued.

The manufacturing sector shows now stability and 0.2%-growth. There is provided an almost double growth of innovative enterprises, and 4.5 times growth of innovative products. We understand that we are at the beginning if compared with the world leaders. We therefore need to significantly enhance the work in this direction to improve our competitiveness, Zh. Kassymbek concluded.

Source: Government of the Republic of Kazakhstan

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