ASTANA, Kazakhstan, March 8. Vice Prime Minister, Minister of National Economy of Kazakhstan Serik Zhumangarin at the meeting of the Headquarters on support of economic growth set a task for the Ministry of Industry and Infrastructure Development of Kazakhstan to increase the index of physical volume (IPV) of the mining and metallurgical complex in 2025, Trend reports.
The Ministry of Industry and Infrastructure Development forecasts a 5 percent increase in the metallurgy PVI in 2025, a 3.1 percent increase in the extraction of metallic ores, and stable coal production compared to the previous year.
Growth in metallurgy is expected to be driven by an increase in copper, gold, rolled products, ferroalloys, and pig iron production. This year, the launch of the complex alloys plant of Qaragandy Power Silicon LLP, the ferroalloys production plant of Ekibastuz FerroAlloys LLP, and cathode copper from Shagala Mining LLP are expected.
At the meeting, Vice Prime Minister remarked that the targeted economic growth rate for the country is 7 percent, and the planned growth indicators for the mining and metallurgy complex (MMC) are insufficient to meet this goal.
"For the 7 percent target for economic growth, the target indicator for the manufacturing industry is set at 7.6 percent. In metallurgy, which accounts for about 40 percent of manufacturing, based on the planned PVI for key product types, we see growth of no more than 2-3 percent. We need to discuss with all sector producers how to achieve higher growth in the MMC this year and set challenging targets," noted Serik Zhumangarin.
The meeting also reviewed the progress of investment projects in the Atyrau and West Kazakhstan regions.
Moreover, in the West Kazakhstan region, investments in fixed capital in January 2025 amounted to 28.9 billion tenge ($58 million), a 7.1 percent increase compared to January 2024 (26.7 billion tenge / $53 million). Of these, 90.2 percent were private investments, and 9.8 percent were budgetary funds. The region's 2025 KPI (Key Performance Indicator) for fixed capital investments is set at 841 billion tenge ($1.68 billion). The inflow of direct foreign investments over the 9 months of 2024 amounted to $995.5 million, an increase of 13.1 percent compared to the same period in 2023 ($880.1 million). The main share of FDI is directed to the mining industry. In 2025, 25 investment projects worth 44.5 billion tenge ($89 million), creating 769 jobs, are planned.
Meanwhile, in the Atyrau region, the main share of investments is also in the mining industry. In January 2025, the volume of investments amounted to 100.9 billion tenge ($201.8 million), half of what it was in January 2024 (195.4 billion tenge / $390.8 million). In 2025, 15 investment projects with a total value of 59 billion tenge ($118 million), creating 595 jobs, are expected to be launched. These include the construction of the ATYRAU CHICKEN poultry farm, the greenhouse complex of Aydana-Agro, the liquefied gas storage facility of Texol-Trans LLP, and a vegetable storage facility of Zhumagaliyeva farm, among others.
To date, the regional data indicates, that there are no significant barriers to the implementation of investment projects. However, the Vice Prime Minister urged the regions to actively engage businesses in the process of applying for accessible funding through the "Baiterek" holding company.