Value of Light Industry Production Increased in Kazakhstan
The value of light industry production in Kazakhstan has reached a breaking record. Experts estimated that local enterprises have produced goods worth over 76 billion Tenge since the beginning of the year. Growth of the industry amounted to about 20%, compared to last year. More than half of the products are textiles, which make up half of the industry. The growth of textiles production is more than seven percent.
Spokesperson of the Ministry said that the industry has much to strive for, since the light industry covers only 15% of market demand. To date, second tier banks have approved more than 20 projects worth over four billion Tenge.
In total, over the next two years, 52 projects are planned as part of the roadmap for development of the light industry.
“As part of the Economy of simple things program, we are considering the development of individual projects. As part of our roadmap, we provide subsidies of up to 15%. Furthermore, we also have a furniture project that we will develop. It will be modern fabrics which we do not have today. For example, the same costume fabric,” said Bakhytzhan Sapiyev, Deputy Chairman of Committee of Kazakh Ministry of Industry and Infrastructural Development.