We need to build up industrial economy: N.Nazarbayev

ASTANA. December 23. KAZINFORM /Muratbek Makulbekov/ "We must build up industrial economy", Head of the State Nursultan Nazarbayev has said today during his visit to the new office of "Egemen Kazakhstan" newspaper.
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"The crisis showed that countries making profit on sale of natural resources only don't have sustainable economy. In this regard we must build up an alternative industrial economy unexposed the crisis impacts. About 100 new productions will be put into operation this year, and 170 - next year", the President said.

He noted that Germany suffers of the crisis less then other European countries, as long as small and medium business takes over 80% of the economy of this country. Beside, these enterprises are located uniformly at the territory of the country.

"In case the export of any goods reduces, the enterprises switch off the products. This is very flexible industry, as long as the enterprises are not big. And we face the recession as long as the export dropped by 30-40%", N.Nazarbayev noted.

The President stressed that the Kazakhstan Development Program for 2010-2020 provides allocation of several dozen billion dollars for investment projects. To date agreements on credits and investments were signed with China, France, Italy, South Korea and international financial organizations. The program is fully provided with finances.      

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