Updated industrialization program to support exporters

One of the main topics of the meeting was updating the program of industrial and innovative development, Kazinform refers to primeminister.kz.

The Minister of Investment and Development of Kazakhstan Zhenis Kassymbek reported that the state program of industrial and innovative development was updated in accordance with global industry and technology trends. According to the Minister, it will continue to effectively stimulate development of the manufacturing industry. In addition, it will lead to an increase of labor productivity and export of high value added products (finished goods).

According to the target indicators, by 2019 export of goods (by value) of the Kazakhstan manufacturing industry is expected to grow by 19% compared to 2015. At the same time, a labor productivity growth in this sector should reach 22%, the investments into fixed assets for 2015-2019 are expected to reach 4.5 trillion tenge.

To achieve these goals the Ministry of Investment and Development selected eight most export-oriented industrial sectors: ferrous and nonferrous metallurgy, oil refining, oil and agrochemicals, automobile construction and electrical engineering, as well as food production.

In addition, the state support measures will be provided in 14 priority sectors.

The main areas of work of the Government are revision of approach on formation of the Industrialization Map, revision of procedures and rules of state support with introduction of export orientation criteria, development and promotion of national export brands.

In the framework of innovation centers there will be strengthened support for start-ups, measures to ensure productive employment of the population.

Thus, productive services to be formed, and an increase in exports of goods will lead to a sustainable economy and reduction of dependence on commodity prices.