News of Cental Asia
20.08.2024
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Kazakhstan's Push for Local Production and Job Creation Gains Momentum
Kazakhstan is advancing its local production and job creation goals with five new production facilities established between 2022 and 2023, creating 177 jobs and attracting $13.8 million in investment. Plans for this year include adding three more facilities, generating 34 jobs and $3 million in new investments. Upcoming projects aim to create 127 additional jobs and attract $17.5 million by 2027, focusing on partnerships with global manufacturers and increasing local content in major oil and gas projects.
Kazakhstan is making strides in localizing production and creating new jobs, with five production facilities launched between 2022 and 2023, creating 177 jobs and attracting $13.8 million in investment. The country plans to add three more facilities this year, generating 34 jobs and $3 million in new investments.
At a recent government meeting, Vice Minister of Energy Yerlan Akkenzhenov announced initiatives to boost local production, especially in the hydrocarbon and uranium mining sectors. For the first half of 2024, domestic content accounted for 61.6% of total purchases in these industries, thanks to new regulatory measures and adjustments to subsoil use contracts.
Kazakhstan's future localization projects aim to create 127 new jobs and attract $17.5 million in investment by 2027. The initiatives focus on partnerships with global manufacturers, procurement rules favoring local producers, and a push for increased Kazakh content in major oil and gas projects. The recent signing of contracts worth $240 million with domestic producers is expected to create 30 new jobs and boost plant workloads by 20%.
