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PM tasks Gov’t with developing economy of simple things

26 March 2019 11:47

NUR-SULTAN. KAZINFORM - The Prime Minister of the Republic of Kazakhstan, Askar Mamin, has entrusted the Government with developing the Economy of Simple Things, Kazinform correspondent reports.

"It is necessary to give particular attention to the matters of the Economy of Simple Things. We have defined the top-priority sectors of the process manufacturing industry. Therefore, there should be specific results. It is an added momentum both for import substitution and for ensuring productive employment of the population.

Also, the matters of non-resource exports - this will make it possible for us to enhance the export potential of enterprises," Askar Mamin told today's session of the Government of the Republic of Kazakhstan.

Commenting on the results of the second five-year plan of industrialization, Askar Mamin highlighted that at the end of last year, there was a 4.1-percent growth in the processing manufacturing industry.

"Investment increased by KZT 1.1 trillion. Over 13 thousand jobs were created. Therefore, the following is noteworthy: the mechanical engineering industry should be one of the drivers of industrialization," he underlined.

The Head of Cabinet emphasized the above-mentioned sector's great potential for the further development in the light of the high potential of the major oil and gas projects at the Tengiz, Kashagan and Karachaganak fields.

"It is necessary to pay attention to farming machinery. In the automotive industry on the whole, it is necessary to take all measures required along this avenue. Regarding the growth of the metallurgical industry by 4.7%, it is necessary to ensure steady growth. What important here is that Arcelor Mittal has reached a positive growth rate," said Askar Mamin.

It should be mentioned that Kazakh Minister of Industry and Infrastructure Development Roman Sklyar earlier informed that the implementation of the Easy-Term Loan Program for the sectors of the Economy of Simple Things will have ensured the increase in tax revenue by over KZT 1 trillion by 2025.