ASTANA, Kazakhstan, October 21. More than 290 billion tenge ($538.6 million) was invested in Kazakhstan's machine-building industry in 2024, which is 2.5 times higher than the previous year, said President Kassym-Jomart Tokayev during a teleconference to inaugurate the KIA Qazaqstan automobile plant, Trend reports via the press service of the Kazakh president.
Tokayev noted that since the beginning of the current year, 178 billion tenge ($330.5 million) has already been invested in the sector.
“Investors are showing strong interest in Kazakhstan. Thanks to the implementation of large-scale measures, significant progress has been achieved. Last year, more than 145,000 vehicles were produced in the country,” said Tokayev.
According to him, automotive enterprises operate in Astana, Almaty, Semey, Uralsk, Kokshetau, Kostanay, and Saran. The sector employs more than 10,000 people, nearly half of whom are young people.
The decision to build the KIA Qazaqstan plant was made in 2023. The facility is located in the industrial zone of Kostanay, on a land plot of 62.95 hectares. The plant’s production capacity is 70,000 vehicles per year, with a total investment volume of 131.5 billion tenge ($244.2 million). The enterprise has created 1,500 jobs, and its target markets include Kazakhstan, Central Asian countries, and the Eurasian Economic Union (EAEU).