Manufacturing sector of Kazakhstan shows great stability and growth: Kassymbek

Minister for Investment and Development Zhenis Kassymbek noted the great stability and growth in the manufacturing sector of Kazakhstan during the International Innovation Congress.
Nur-Sultan25 November , 14:39

"During the period of implementation of the state program of industrial and innovative development the real growth of the manufacturing sector amounted to 29.4% and has become ahead of the pace of growth in the mining sector. We have changed the face of industry. In addition to such traditional industries as metallurgy, food industry, there are new manufacturing sectors. During 6 years of industrialization more than 900 new projects worth 4 trillion tenge have been commissioned. These projects have produced goods worth more than 7 trillion tenge. This is more than 20 billion dollars. Nowadays we produce 500 new types of products. Every year we expand the range of exported goods and the geography of the export ", Zhenis Kassymbek informed.

He noted that today the manufacturing sector during the crisis shows the great stability and growth.

"It’s just 0.2%, but still a growth. The growth of innovative companies almost doubled, innovative products in 4.5 times. But at the same time, we understand that in comparison with the world leaders, we are at the beginning. Therefore, we need to greatly enhance the work to improve its competitiveness", the Minister for Investment and Development stated.

Zh. Kassymbek outlined the challenges that face today by the Ministry: increased productivity, competitiveness, creation of new industries.