ASTANA, Kazakhstan, August 1. The Kazakh market for household appliances holds significant potential and is valued at $1.2 billion, Marat Karabayev, the country's Minister of Industry and Infrastructure Development, said at a government meeting, Trend reports.
The minister claims that the domestic appliance business has become yet another crucial area of attention for the nation's equipment industry.
"We plan to execute a project involving household appliances in the Saran city of the Karaganda region in the upcoming year. In addition to accelerating the sector's growth, this project is anticipated to aid in the regeneration of a mono-industrial city. With successful project implementations, we intend to increase exports by over $100 million while supplying the domestic market with goods worth $250 million", the minister added.
Minister Karabayev also underscored the contributions of Alageum Electric in the electrical machinery sector, as it successfully manufactures transformers, meeting the demands of the domestic market. Additionally, companies like Kazenergokabel and Eurasiakabel play a pivotal role by supplying cable products to the market.
Additionally, Minister Karabayev highlighted the development in the oil and gas, mining, and metallurgical machinery sectors. According to his statements, machinery procurement by subsoil users accounts for 54 percent. From 2019 to 2022, the volume of machinery purchases increased by 8 percent, reaching 990 billion tenge ($2.3 billion), albeit with a decrease in local content from 12.6 percent to 9.9 percent.
The year-end figures for 2022 indicate an overall import value of $1.6 billion and $1.1 billion for the oil and gas, mining, and metallurgical machinery sectors, respectively.
