State to Allocate 35 Billion Tenge to Support Mechanical Engineering

The state will allocate 35 billion tenge to support domestic mechanical engineering, First Vice Minister of National Economy Marat Kussainov said at the Central Communications Service briefing on April 6.

car-engine“The National Fund will allocate 35 billion tenge to support domestic engineering, including the production of cars, helicopters and passenger cars in 2015. In total, 20 billion will be allocated to support the car industry, 10 billion tenge for the production of helicopters and five billion for the production of passenger cars,” said Kussainov during the briefing.

According to the vice minister, such support will promote domestically produced commodities on the local market and help maintain current production volumes.

“In general, these measures will allow potential customers – both internal and external –to purchase the products of domestic engineering on favourable financial terms,” Kussainov stressed.

He also noted that the National Fund will allocate an additional 50 billion tenge as pre-export and export financing through development institutions in order to support the export of domestic output in 2015-2016.

“The long-term concessional financing will allow the exporters to find a market by stimulating potential customers and find new promising niches for the processed products,” he concluded.

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