Kazakhstan ramps up machine-building volumes

ASTANA. KAZINFORM The share of machine-building sector in Kazakhstan's economy is 1.5% and in processing industry – 13%, according to Minister of Industry and Infrastructure Development Marat Karabayev, Kazinform reports.

«Approximately 800 machine-building enterprises are operating in Kazakhstan today with more than 118,000 people employed. The sector has showed a 2.3-fold real growth in the past 5 years, the lion share of which falls on car-making industry,» Marat Karabayev said at the government’s sitting today.

In 2022, the country attracted a record amount of direct investments in its machine-building sector – around 500 million U.S. dollars. In the first half of 2023, FDIs in the sector reached 208 million U.S. dollars, which is 4 times higher than in the same period of 2022 (51.5 million U.S. dollars).

«Machine-building is the most dynamically developing sector in Kazakhstan’s processing industry with 17.6% of average growth paces shown within the past 5 years,» the Minister added.

Positive dynamics is observed this year as well, he noted.

In the first half of 2023, the sector has manufactured products to the amount of 1 trillion 800 billion tenge that is 38% higher against the same period in 2022.