Kazakhstan is set to launch 180
industrial projects worth 1.4 trillion tenge by the end of 2024. When fully
operational, production volumes are expected to reach around 1.8 trillion
tenge. According to the country’s Ministry of Industry and Construction, these
projects are aimed at import substitution and increasing the export potential
of domestic products. Kazakhstan is also a major supplier of ferrous and
non-ferrous metals. In the first four months of this year alone, exports in the
metallurgical industry increased by more than eight percent. Furthermore,
Kazakhstan is strengthening its position in the global market for strategically
important minerals. To deepen cooperation in this area, memorandums of
understanding have been signed with China and South Korea. Kazakhstan has also
signed a negotiation protocol with South Korea for the creation of a testing
center in the field of elevator construction, with South Korea ready to provide
a grant of around $7.5 million. Positive dynamics are also observed in the
export of light industry products, which increased by nearly 70 percent in the
first four months of 2024. The main markets for these products are Russia,
Türkiye, and China.
