Kazakhstan to implement 180 industrial projects in 2024 – Tokayev

Kazakhstan remains a leader in Central Asian region in terms of inflow of direct foreign investments, stated President Kassym-Jomart Tokayev at the first Forum of Agriculture Workers in Astana, Kazinform News Agency correspondent reports.  

This year, the world’s top rating agencies confirmed the sovereign credit rating of Kazakhstan at the level of investment soundness. In September, Moody’s upgraded Kazakhstan’s long-term rating to the outlook ‘stable,’ which is the best result in the history of independent Kazakhstan, said the Kazakh President.

According to Tokayev, the non-primary sector attracts more and more investments. The manufacturing sector has already overtaken the mining sector in terms of its volume. This sphere has 630,000 workers.

This year, we expect to implement 180 industrial projects worth 1.2 trillion tenge, in particular, major plants for production of cathode copper (Karaganda region), ferroalloys (Pavlodar region), truck components (Kostanay region), concrete (Zhambyl region), processing of precious metals (Zhambyl region), said Tokayev.

The Head of State went on to add that plants for processing of tungsten ores (Almaty region), assembling Chevrolet Onix cars (Kostanay region), production of copper concentrate (Zhambyl region), production of thermal insulation materials (Almaty region) and ceramic tiles (Shymkent city) have already been commissioned.

Thanks to the opening of a polypropylene plant in Atyrau region, the country has established a full-fledged petrochemical industry. Projects for production of polyethylene and butadiene are to be commissioned soon. In Mangistau region, a project for production of green hydrogen is to be implemented with the participation of the European Consortium. Thus, new enterprises, whose products comply with the international standards and are in demand in foreign markets, are being established, concluded Head of State Tokayev.

To note, the Kazakh capital of Astana is hosting the 1st Agriculture Workers’ Forum.