ASTANA, Kazakhstan, October 29. Kazakhstan intends to double the volume of machine-building production by 2028, Minister of Industry and Construction of Kazakhstan Kanat Sharalpaev said during a government meeting chaired by Prime Minister Olzhas Bektanov, Trend reports.
The meeting discussed the development of the machine engineering sector.
Sharalpaev noted that machine engineering accounts for 20 percent of the manufacturing industry and has a significant multiplicative effect: one job in the sector creates up to 7-8 jobs in related industries. In the first nine months of 2024, investments amounted to approximately $270 million, doubling from the previous period.
"The machine engineering sector occupies one of the leading positions in manufacturing, with a share of nearly 20 percent. There are about 4,000 companies in the sector, employing over 120,000 people," the minister highlighted.
As of the end of 2023, the share of machine engineering in the GDP structure reached 1.9 percent. There is noted growth in production volume and a positive trend in attracting investments. In the first nine months of this year, around $235 million was invested in Kazakh projects, exceeding the amount for the same period last year by 2.2 times.
One of the key issues in the sector is the modernization of equipment. It was noted that the wear and tear of machinery in machine engineering reaches 40 percent. In the railway sector alone, it is expected that over 800 worn-out passenger cars will be decommissioned by 2030. According to the Union of Industrial Investors of Kazakhstan, about 76 percent of agricultural machinery needs updating.