Growth expected across Kazakhstan’s machine building industry by 2029, says Chinese expert
Chinese speaker Zhou Haiming stated on Thursday that development prospects of Kazakhstan’s machine building industry and clean energy transition are of interest to China’s investors, Kazinform News Agency correspondent reports.
Kazakhstan has untapped potential to promote clean energy. The country also develops innovative technologies. By 2030, the renewable energy share is set to expand to 30%, said Zhou Haiming, Vice-President of the CCPIT Machinery Industry Sub-Council, on the sidelines of the 12th Forum of Machine Builders of Kazakhstan in Astana.
The speaker stressed: ‘In 2024, the machine building industry totaled 3.8 billion US dollars, with an annual growth of 21%’.
Looking ahead to 2029, the industry is expected to grow to record levels, he said, urging to localize production and continue to develop the industry.
Zhou Haiming said: ‘The CCPIT Machinery Industry Sub-Council stands ready for further cooperation with the Machine Builders’ Union of Kazakhstan by fostering international cooperation among Kazakhstani and Chinese companies, promoting trade and investments'.
As earlier reported, Chinese companies are keen to invest in Kazakhstan’s machine building industry.