Kazakhstan to invest over US$ 9.5 billion in agro-industrial sector

These measures will allow increasing agricultural output and productivity and creating half a million new jobs.

On March 2, Prime Minister of Kazakhstan Askar Mamin held a government meeting. The agenda included the key areas of development of the agro-industrial sector and the progress in implementing investment projects. It is planned to earmark over 4 trillion tenge (over US$ 9.5 billion) for these projects, the press office of the Government of the Republic of Kazakhstan reported to CentralAsia.news.

The Ministers of Agriculture and Trade and the heads of administration of four large agricultural regions reported on on-going measures to ensure the consistent development of the agro-industrial sector.

The Prime Minister instructed the heads of regional administration to strengthen control over a stabilization in prices for essential products, work out effective approaches to creating stabilization funds in the regions and assess the possibility of using the mechanisms of forward contracts for food products. In this context, the Prime Minister identified food security as the primary goal to accomplish.

The meeting participants were informed that 400 investment projects totaling 4 trillion tenge would be implemented to accomplish the goal. 80 projects will be implemented every year. Such economic maneuvers will enable to increase agricultural output and productivity and create 500,000 new jobs.

03 мар 2021, 09:55
Photo source: primeminister.kz

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