Kazakh National Economy Ministry presents economic recovery plan
Kazakh government is set to increase domestic production by launching 44 new projects this year. In the near future, it is planned to build a number of poultry factories, meat processing plants, sugar, milk and fish factories in the country, as well as to actively develop intensive apple orchards, Kazakh Minister of National Economy Ruslan Dalenov stated at a press briefing.
He said that despite the downturn in business activity by nearly 6 percent, the country managed to increase the production of goods by 4.1 percent.
“The growth in the manufacturing industry was achieved due to the automotive industry (46 percent), pharmaceuticals (24 percent), production of finished metal products (20 percent), light industry (8 percent), as well as production of rubber and plastic products (8 percent), and production of paper (15 percent),” Dalenov said.
As for the plans, Dalenov said that a special comprehensive plan would restore the economic growth of the state. According to the plan, in addition to tax incentives, measures are envisaged to expand lending, develop infrastructure, support domestic production and entrepreneurship, and preserve employment in the country.
Dalenov also added that it is planned to create an Industry Development Fund in Kazakhstan, conclude offtake contracts, and increase reimbursement of up to 80 percent of transport costs for exports of high-value products. Processing enterprises will be able to receive loans through this fund at the interest rate of no more than 3 percent.
Special support mechanisms have already been considered for agricultural producers, which will ensure the continuous sales of agricultural products.
“This year, the pilot project ‘From field to counter’ is planned to be implemented in Zhambyl region, Turkistan region and Almaty region. For this purpose, all the necessary preparatory work is underway,” Dalenov said.