Kazakh PM instructs to strengthen support for enterprises of manufacturing sector

The volume of investments in the industry increased by 23%.
Фото: primeminister.kz 11.08.2022 247

Kazakh Prime Minister Alikhan Smailov held a meeting on the development of mechanical engineering, El.kz reports with reference to the press service of the Head of the Cabinet.

Speaking with a report, Minister of Industry and Infrastructure Development Kairbek Uskenbayev said that in the first six months of 2022, production in mechanical engineering increased by 37% (in monetary terms) compared to the same period last year. The volume of investments in the industry increased by 23%.

During the meeting, Meiram Pshembayev, Chairman of the Board of the Union of Machine Builders of Kazakhstan, named the proposals of industry representatives in a number of areas of support for domestic production.

It was noted that as part of the work to support enterprises of the manufacturing sector, the mechanism for paying value added tax by the method of offset for imports of raw materials, materials and components until 2024 was extended.

At the same time, in the list of imported goods for which VAT is paid by this method, it is proposed to include an additional number of items of metal products and equipment necessary for the implementation of investment projects. It is also proposed to expand the coverage of enterprises of the manufacturing sector that receive an accelerated VAT refund when exporting products.

The Prime Minister supported these proposals, instructing the relevant state bodies to submit drafts of the necessary decisions.

"We are interested in increasing the competitiveness of domestic producers. To this end, the coverage of support measures will be expanded. Particular attention should also be paid to the issue of increasing local content in procurement," Alikhan Smailov said.

In these areas, the Prime Minister gave a number of instructions to the relevant state bodies.

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