Kazakhstan to Implement 180 New Industrial Projects Worth 1.2 Trillion Tenge in 2024

The Kazakh government is persisting in its efforts to diversify the economy away from its reliance on raw materials toward industries with higher value-added.

In the preceding year, a significant milestone was reached with the implementation of 170 projects valued at 928 billion tenge within the manufacturing sector. Additionally, 179 long-term contracts and off-take agreements with domestic manufacturers were finalized. These endeavors have already resulted in the manufacturing industry’s share of the economy equaling that of the mining sector.

This year, Kazakhstan is poised to embark on 180 new industrial projects valued at 1.2 trillion tenge. The acceleration of industrialization will be further bolstered by a novel mechanism designed to supply domestic raw materials to manufacturing enterprises.

The implementation of the Comprehensive Plan for Machine Building Development by 2028 is anticipated to drive a 4.5-fold increase in the total added value of this crucial industry.

In broader terms, Kazakhstan continues to pursue its national investment pool comprising approximately 1,000 projects totaling 32 trillion tenge across all sectors of the economy. In 2023, investments amounting to 1.8 trillion tenge were allocated for 298 projects, with plans for 326 projects to be realized in 2024, totaling 3.8 trillion tenge.

Responding to the directives of the Head of State, efforts have been intensified to review and fortify the operations of the investment headquarters. Large-scale investment projects are receiving meticulous attention, with proactive measures being taken to address any emerging challenges.






Back to top button