Kazakhstan aims for $2.2 billion investment in manufacturing sector by 2025
Kazakhstan set to attract billions in investments for manufacturing sector by 2025
The Ministry of Industry and Construction in Kazakhstan recently announced that the country is expected to receive a significant investment of 1.2 trillion tenge (US$2.2 billion) into its manufacturing sector by 2025. This influx of capital is projected to create around 19,640 new jobs, boosting the economy and driving growth in key industries.
With plans to implement 190 investment projects, Kazakhstan is focusing on sectors such as mechanical engineering and ferrous metallurgy. Mechanical engineering alone is anticipated to generate over 7,800 jobs, while ferrous metallurgy will see an investment of 256 billion tenge (US$488.4 million).
Some of the major projects in the pipeline include the establishment of a multi-brand passenger car production plant by Astana-Motors in Almaty, with an annual capacity of 90,000 cars and the creation of 2,200 new jobs. The KIA Qazaqstan plant in the Kostanai Region is also set to produce 70,000 cars annually, providing employment for 1,500 individuals. Additionally, a new household appliance factory in the Almaty Region is expected to produce 750,000 units annually, leading to the generation of 1,200 jobs.
Furthermore, other projects such as the QazAlPack project in Shymkent, the Texoltrans project in the Atyrau Region, and the Kazpoligraf project in the Abai Region aim to modernize existing facilities or establish new manufacturing plants, creating hundreds of additional jobs and introducing innovative technologies.
Overall, these projects are projected to contribute significantly to the economy, with an expected output of 2.2 trillion tenge (US$4.1 billion). A portion of this output, 0.8 trillion tenge (US$1.5 billion), will be allocated for exports, while 1.4 trillion tenge (US$2.6 billion) is earmarked for import substitution.
By attracting investments and fostering growth in the manufacturing sector, Kazakhstan aims to strengthen its economy and create more opportunities for its citizens. The anticipated job creation and economic output from these projects demonstrate the country’s commitment to sustainable development and industrial advancement.
