Export orientation is the basis for approving investment projects

On September 14, at a meeting of the Government of the Republic of Kazakhstan, Minister of Trade and Integration Bakhyt Sultanov told how export issues are progressing.

Thus, he said that the volume of exports of non-primary goods in the first 7 months of this year increased by 23.4%, amounting to $10.4 billion.

"The drivers of growth were copper and cathodes, the export of which increased by 40%, the supply of ferroalloys also increased by 26.7%, rolled steel-by 95.4%," Bakhyt Sultanov noted.

According to the minister, COVID-19 mainly hit the service market. According to the results of the 1st quarter of this year, the export of services decreased by 21.2% or from $ 1.5 to $1.2 billion.

"To increase the volume of non - primary exports, it is necessary to attract export-oriented foreign direct investment," Bakhyt Sultanov noted in the report.

The Minister raised the issue of further export promotion. He appealed to the head of the Government Askar Mamin with a proposal to assign responsibility for the development of exports to the deputy first heads of akimats in charge of attracting investment.

At the same time, the minister added that one of the conditions for the approval of investment projects should be the export orientation of non-primary goods.