Kazakhstan Aims To Reduce Imports By Enhancing Its Domestic Production
Date
11/21/2024 5:14:27 AM
(MENAFN- Trend News Agency)
ASTANA, Kazakhstan, November 21. Kazakhstan
aims to reduce the import of finished products by enhancing its
domestic production, Trend reports.
The topic was discussed during the plenary session of the Senate
of the Parliament of the Republic of Kazakhstan, where Prime
Minister Olzhas Bektenov and members of the Government
participated. The deputies also considered draft laws on the
republican budget and guaranteed transfers from the National Fund
of Kazakhstan for the years 2025-2027.
During his speech, Prime Minister Bektenov stated that economic
diversification is one of the key tasks of the Government of
Kazakhstan. It was noted that the manufacturing industry has
outgrown the raw materials sector in terms of volume. The share of
manufacturing industry is 47 percent, while the share of the raw
materials sector is 45 percent.
“We have increased the list of goods purchased exclusively from
domestic producers from 1,500 to 4,500 items. As a result, the
value of contracts concluded with domestic producers has grown by
55 percent and reached 350 billion tenge (approximately $704
million). Another important step is the signing of off-take
contracts for the supply of products with domestic producers. The
total value of off-take contracts this year reached 134 billion
tenge (approximately $270 million), which is 14 times higher
compared to last year,” noted Bektenov.
Olzhas Bektenov also emphasized that large-scale industrial
projects are being implemented in all regions of the country. As a
result of the measures taken, this year we see a 6.4 percent
increase in the export of finished products, while the import of
finished products decreased by 7.2 percent.
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