ASTANA, Kazakhstan, November 29. Kazakhstan's industrial potential has increased noticeably as a result of the president's directives to diversify the country's economy and carry out investment projects in critical areas, Trend reports.
Olzhas Bektenov, the prime minister of Kazakhstan, monitored the implementation of the president's instructions aimed at releasing the nation's economic potential.
Bektenov toured Astana enterprises to assess the growth of the construction, light, and metallurgical industries as well as the railway and automotive engineering sectors. He examined if President Tokayev's directives, expressed in the address "Fair Kazakhstan: Law and Order, Economic Growth, and Public Optimism," about economic diversification and the execution of investment projects in priority areas were being carried out..
During his visit to the Ashina KZ sewing plant, Olzhas Bektenov discussed the growth of the light industry. The factory has an annual capacity of 24,000 units of production. The project’s cost is $2.8 million, creating conditions for 60 jobs.
The Tau-Ken Altyn refinery was another location Olzhas Bektenov visited on the working visit. The enterprise specializes in refining gold and other precious metals, ensuring their high quality. Since the launch of the plant, a total of 336.7 tons of refined gold and 64.2 tons of silver have been produced, with an annual capacity of up to 25 tons of gold and 50 tons of silver. The plant is actively implementing ESG principles by reducing energy consumption, water and heat usage, and developing catalyst and waste recycling, which will expand the raw material base and strengthen its market position.
The Prime Minister emphasized that the activities of the plant are helping to strengthen Kazakhstan’s position in the global precious metals market. Overall, such industrial projects play a key role in the country’s economic diversification strategy.
Currently, Kazakhstan has 14 special economic zones with various industry focuses and more than 20 industrial zones. "Our task is to develop high-tech industries, make effective use of, and process domestic raw materials. It is important not only to reduce dependence on imports but also to create new opportunities for increasing the export of products with significant added value," said Olzhas Bektenov.
To note, ESG (Environmental, Social, Governance) principles are company practices based on environmental protection, creating favorable social conditions, fair relations with employees and clients, and proper corporate governance.