On March 15, 2024, a meeting of the board of the Ministry of Industry and Construction of the Republic of Kazakhstan was held under the chairmanship of the First Deputy Prime Minister Roman Sklyar.
President Kassym-Jomart Tokayev has repeatedly emphasized the prospects for the development of the industrial sector in Kazakhstan and its export potential. During an extended government meeting on February 7, 2024, one of the priority tasks set by the president was the establishment of a strong small and medium-sized enterprise sector in the industrial field.
At the board meeting, Minister of Industry and Construction of the Republic of Kazakhstan Kanat Shalpayev presented the department's results in this direction for 2023. According to the Minister, industrial growth reached 4.3% in 2023, with manufacturing production increasing by 4.1% across almost all sectors.
The physical volume index (PVI) in mechanical engineering was 125.4%, in ferrous metallurgy - 101.0%, in the chemical industry - 100.2%, in light industry - 112.2%, and in the production of construction materials - 106.1%.
Shalpayev mentioned that in 2023, the ministry developed a mechanism to ensure the raw material supply for enterprises in the manufacturing industry. The norm has already been approved by the Mazhilis of the Parliament and is under consideration in the Senate.
Furthermore, last year saw reforms in the conditions for conducting business in special economic zones. A differentiated approach to granting benefits to SEZ participants based on the principle of "the more investments, the more benefits" has been introduced. The right to purchase land plots after fulfilling investment obligations and the right to place potential projects in SEZs (outside priority sectors) without applying benefits have also been implemented.
"A Comprehensive Development Plan for the engineering industry for 2024-2028 was adopted in 2023. The full implementation of this plan will ensure a 4.5-fold increase in the gross value added of the engineering industry. Cooperation with the European Union, the United States, the United Kingdom, and South Korea has been established in the development of rare and rare earth metals. A Comprehensive Industry Development Plan for 2024-2028 has been adopted," Shalpayev stated.
The Minister also recalled that at the end of last year, a large system-forming steel production enterprise was transferred to a new domestic investor for comprehensive modernization. In line with the policy of saturating the domestic market and developing domestic value in 2023, 179 long-term contracts and off-take contracts were signed with domestic manufacturers.
Overall, last year saw 1.7 trillion tenge in investments attracted, with an 11.1% growth rate. 170 investment projects worth more than 928.2 billion tenge were launched, creating 12.2 thousand permanent jobs. By the end of the year, it is planned to introduce 180 projects worth 1.3 trillion tenge, creating more than 17 thousand jobs.
