Kazakh PM urges to increase share of engineering products exports in EAEU

ASTANA. KAZINFORM The country’s machine-building industry output grew threefold to exceed 3 trillion tenge, Kazakh Prime Minister Alikhan Smailov told the Government meeting, Kazinform reports.

The Prime Minister said the machinery manufacturing is the high technology industry affecting all economic sectors. For the past five years (2017-2022) the machine-building industry share in the country’s economy grew by 1.5 times. Output increased threefold to exceed 3 trillion tenge.

Last year the industry attracted over 470 million dollars of foreign investments.

There is a great potential for the development of the domestic machine manufacturing. Its imports reached 20 billion tenge. The total import of the engineering products of the EAEU states in 2021 made 141 billion dollars. The Prime Minister stressed Kazakhstan may increase its share in the EAEU market.

As earlier reported, the share of machine building sector in the economic structure of Kazakhstan accounts for 1.5%, 13% in the processing industry. 151 projects worth 1 trillion 700 billion tenge will be implemented nationwide by 2028.