Growth in Kazakhstan's manufacturing industry reached 4.1%, according to the Ministry of industry and construction of the Republic of Kazakhstan

Growth in Kazakhstan's manufacturing industry reached 4.1%, according to the Ministry of industry and construction of the Republic of Kazakhstan

The production in the manufacturing sector is showing positive dynamics, as reported at a meeting of the MIC RK board.

In 2023, the production volume amounted to 21.6 trillion tenge, marking a 4.1% increase from the previous year (2021 - 17.1 trillion tenge, 2022 - 20.7 trillion tenge). This growth was driven by increases in machinery (+25.4%), woodworking (+38.0%), the light industry (+12.2%), and the construction industry (+6.1%).

The volume of investments grew by 11.2%, reaching 1.7 trillion tenge, fueled by investments in the production of various transport vehicles (a sevenfold increase), clothing (5.6 times), furniture (fourfold), and the automotive industry (3.5 times).

Product exports totaled 25.3 billion dollars.

By the end of 2023, 170 investment projects were initiated, totaling 928 billion tenge and creating over 12,000 jobs.

«A mechanism for ensuring the supply of raw materials to the manufacturing industry enterprises has been developed. It prioritizes the saturation of the domestic market over the export of raw products to fully utilize the capacities of enterprises. Implementing this regulation will facilitate the launch of more than 10 new projects and increase aluminum processing by 2029 to 166 thousand tons (64% of the country's output), lead to 81 thousand tons (79%), and copper to 91 thousand tons (22%),» MIC RK reported.

Following the directive of the head of state, a Comprehensive plan for the development of the machinery industry for 2024-2028 has been adopted. It outlines key systemic measures for supplying enterprises with raw materials, accessible financing, skilled personnel, promoting sales, and sector-specific measures. Additionally, a Comprehensive plan for the development of the rare and rare earth metals industry for 2024-2028 was adopted, aiming for a 40% increase in investments and production volume.

This year, the manufacturing industry plans to implement about 180 projects with an estimated total of 1.3 trillion tenge, creating approximately 17.8 thousand new jobs.

 

 

Press service of the Ministry of Industry and

construction of the Republic of Kazakhstan