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PM promises to relieve Kazakhstan's industry from red zone until yearend

31 October 2017 12:27

ASTANA. KAZINFORM The Prime Minister of Kazakhstan, Bakytzhan Sagintayev, has commented on reaching the major indicators of the Industrial and Innovative Development State Program, Kazinform correspondent reports.

"In general, the program indicators are outstripped across the country. However, there are regions, which, as you saw in the table, are lagging behind, especially in terms of investment in fixed capital. West Kazakhstan, Kyzylorda, and Pavlodar regions, as well as Astana city are also lagging behind... The work in these regions will be improved, and until the end of the year we will move out of the red zone and will get a boost. As to new exports in several regions, I think [the situation] will also be remedied," he told the Government meeting on Tuesday.

The governors of Zhambyl, Aktobe, and East Kazakhstan regions and the Mayor of Almaty city made reports prior to the Prime Minister.

According to Minister of Investment and Development Zhenis Kassymbek, the main target indicators of the government program are on an upward trend. The manufacturing exports for 8 months have increased by 23.1% against the same period of the last year and reached $9.9 billion. There is a considerable increase in agricultural chemistry (+72.1%), oil refining (+67%), and iron and steel industry (+61.8%).

For 9 months, the investment in manufacturing has become 3.5% higher than in the same period of 2016 and amounted to KZT 599 billion. The largest investment was attracted to rolling stock manufacturing (by 10.5 times), mining machinery (2.9 times), and automotive industry (2.5 times).

In Q1 2017, the workforce productivity in a full range of enterprises has risen by 16.1%, up to $7,600 per person.

Region-wise, the greatest decrease in exports is observed in Astana city (52.1%) and Mangistau region (55.5%). The most significant investment decline was in Aktobe region (49.3%) and Astana city (52.1%). There are no considerable declines in the workforce productivity.