NUR-SULTAN – Kazakhstan intends to bolster the competitiveness of domestic producers by extending support measures, Kazakh Prime Minister Alikhan Smailov said at an Aug. 11 meeting addressing the development of mechanical engineering.
Production in the engineering industry increased by 37 percent in the first half-year period. Photo credit: businessmir.kz
Smailov stressed the need to increase the share of local content in government purchases.
According to Minister of Industry and Infrastructural Development Kairbek Uskenbayev, in the first half-year period, production in the engineering industry increased by 37 percent (in monetary terms) compared to the same period last year. The volume of investments in the industry increased by 23 percent.
The offset method of paying value-added tax (VAT) when importing raw materials and components has been extended until 2024. Simultaneously, it was proposed to add some more metal products and equipment required for the implementation of investment projects to the list of imported commodities for which VAT must be paid.
