Prime Minister discusses implementation of new Comprehensive Industry Development Plan for coming 5 years with Union of Machine-Builders of Kazakhstan head

Prime Minister of Kazakhstan Alikhan Smailov held a meeting with the Chairman of the Board of the Union of Machine Builders of Kazakhstan Meiram Pshembayev, El.kz cites primeminister.kz. 

The meeting discussed the main directions of implementation of the Comprehensive Development Plan of Machine Building for 2024-2028. Alikhan Smailov noted the importance and significance of the adopted document, positively assessing the growth rate of production in mechanical engineering. According to him, the implementation of the Comprehensive Plan contributes to the development not only of the machine-building industry, but also of the country's manufacturing industry as a whole.

The Comprehensive Plan consists of 79 measures in 7 areas. Its implementation will ensure the growth of the following by 2028:

• GVA (gross value added) by 4.5 times;
• PVI (physical volume index) by 2.2 times;
• export volume by 3 times;
• investment volume by 1.5 times.

According to Meiram Prsembayev, the implementation of the Comprehensive Plan will give a significant impetus to the development of the domestic machine building industry, will allow to increase production volumes and develop export opportunities, also contributes to attracting investments and improving the system of training qualified personnel.

"Implementation of the Comprehensive Plan is our priority task today. We will make every effort for qualitative fulfillment of the set target indicators and further modernization of the domestic machine-building industry," the head of the Union of Machine-Builders of Kazakhstan said.

It should be noted that mechanical engineering is the most high-tech industry, which covers 37 sub-branches and provides equipment for almost all spheres of the economy. At the same time, one job here creates up to 8-10 jobs in related industries. According to the results of 2022, the physical volume of production in mechanical engineering grew by 11%, while in the first 10 months of 2023 it grew by 27%. From January to October 2023, products worth 3.3 trillion tenge were produced.

It should be reminded that the Head of State in his Address of September 1, 2023 outlined accelerated development of the manufacturing sector, where machine building is the driver of industrial growth, as one of the main tasks. Further modernization of the industry will give a new impetus to diversification and industrialization of the country's economy.

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