Investments in agriculture to reach 3.2trln tenge - Ministry

ASTANA. KAZINFORM At a workshop organized by the Islamic Organization for Food Security in the Kazakh Ministry of Foreign Affairs, Minister of Agriculture Yerbol Karashukeyev has outlined the primary targets set to his Ministry, Kazinform reports.

According to him, the Ministry of Agriculture continues its efforts on development of the country’s agro-industrial sector. The Ministry undergoes reforms and reconstruction with the consideration of today’s challenges and complicated conditions.

In his words, the Ministry is set to boost labour productivity three times – from 3.4 million tenge to 9.3 million tenge per one worker in the sector. Another target is to triple agricultural exports - from 3.5 billion US dollars to 9.9 billion US dollars.

He said that the volume of agricultural exports would rise by 70% in total.

The Minister assured that the country would satisfy its need in all food-stuffs by not less than 90%, including five imported foods, except for sugar. The volume of investments in fixed capital will be raised fourfold to reach 3.2 trillion tenge. «To achieve this goal, we need to expand investments both in human capital and in infrastructure of economy,» he said.

The Ministry of Foreign Affairs of Kazakhstan has hosted today the workshop on Sukuk for Investments in Agriculture initiated by the Islamic Organization for Food Security.

Sukuk is a financial document commonly referred to as «sharia compliant» bond.