The draft Concept for the Development of Manufacturing Industry for 2023-2029 was considered at a meeting in the Government chaired by Prime Minister Alikhan Smailov.

The Minister of Industry and Infrastructural Development Marat Karabayev, presenting the draft Concept, noted that it is aimed at creating a technologically progressive industry focused on the production of medium and high value-added products.

Among the systemic measures for the industry development he singled out supply of raw materials, development of new deposits, development of industrial infrastructure and creation of the SME belt around large enterprises.

The draft Concept provides for financing of manufacturing industry projects to the tune of more than 500 billion tenge.

It is expected that 868 new projects totaling 33.1 trillion tenge will be launched and create 147,000 jobs within the period under consideration.

As a result of implementation of all planned measures it is expected that the real growth of production in 2029 will grow by 1.5 times, investments in fixed capital to 19.8 trillion tenge.

Prime Minister Alikhan Smailov said the draft Concept is designed to fundamentally change the structure of industry in Kazakhstan by focusing on the processing sector.

The participants of the meeting approved the document as a whole. Alikhan Smailov instructed the Ministry of Industry and Infrastructural Development to ensure coordination of the document with the interested state bodies and submit it to the Government Apparatus.