Kazakhstan Reveals Plans To Implement Industrial Projects In 2024

2024-02-13 01:09:32

(MENAFN- Trend News Agency) ASTANA, Kazakhstan, February 13. Kazakhstan continues to implement initiatives to diversify the Economy away from a commodity-based orientation and toward industries with higher added value, Trend reports.

According to Kazakhstan's government, 170 projects worth 928 billion tenge (about $2 billion) were completed in the manufacturing industry last year. 179 long-term partnerships and offtake contracts were signed with domestic producers.

The manufacturing industry now accounts for the same share of the GDP as the mining industry.

In 2024, 180 industrial projects costing 1.2 trillion tenge (about $2.62 billion) will be implemented.

At the same time, as part of the implementation of the Comprehensive Plan for the Development of Mechanical Engineering until 2028, the total added value of this industry is expected to increase by 4.5 times.

In general, today in Kazakhstan, the implementation of a nationwide pool of about 1,000 investment projects worth 32 trillion tenge (about $70.1 billion) continues. This applies to all sectors of the economy.

Thus, in 2023, 298 projects worth 1.8 trillion tenge (about $3.9 billion) were launched. In 2024, 326 projects will be implemented for a total of 3.8 trillion tenge (about $8.3 billion).

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