Kazakhstan’s Manufacturing Industry Grows 7.4% in Two Months of 2024

ASTANA – Kazakhstan’s manufacturing sector saw a 7.4% increase in January and February, particularly in mechanical engineering, metallurgy, chemistry and light industries, Minister of Industry and Construction Kanat Sharlapayev said at an April 8 meeting with President Kassym-Jomart Tokayev, reported Akorda.

Kassym-Jomart Tokayev receives Kanat Sharlapayev. Photo credit: Akorda

The minister recalled plans to launch 180 projects worth 1.5 trillion tenge ($3.3 billion), generating 17,800 jobs.

Touching on the construction industry, Sharlapayev informed that 157,000 houses were built last year and 172,000 are slated for commissioning in 2024. 

Over 300 billion tenge ($674.8 million) will be allocated for the construction of 22,000 rental apartments. A program with the same amount of financing will be launched through Otbasy Bank to provide citizens with 12,000 mortgage loans.

The President directed the restoration of housing that the flooding had destroyed. Sharlapayev confirmed the completion of the design and estimate documentation for constructing new residences in the affected areas.

The minister spoke about the introduction of the E-Qazyna.kz digital platform to conduct auctions for subsoil use rights, which significantly increased their transparency and accessibility.

Major global companies, including Rio Tinto and Fortescue, participating in the auctions indicates intensified competition to explore potentially resource-rich deposits in Kazakhstan.

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