113 investment projects worth 4.4trn tenge under development and implementation in agro-industrial complex

NUR-SULTAN. KAZINFORM At the government session chaired by Prime Minister Askar Mamin, Minister of Agriculture Saparkhan Omarov reported on new approaches to the governmental support of the country’s agro-industrial complex, primeminister.kz informs.

According to him, the Ministry of Agriculture drafted amendments to the 2017-2021State Agro-Industrial Complex Development Program with the consideration of implementation of Nur Otan Party's Election Platform to saturate the local market with domestic products.

«Now we have 19 items in the list of socially important goods, of which only six have import dependence. In general, the task of import substitution can be implemented in a mid-term, until 2024,» the minister said.

The Ministry has a clear plan of measures for import substitution of these six products. Measures will allow saturating local markets to 80 and 100% with domestic products by 2024, attracting about 770 billion tenge of investments in fixed assets to the sector.

The Ministry proposes to gradate the existing state support measures with the abolition of ineffective subsidies for subsidies oriented to results.

Thanks to the state support, the sector’s investment attractiveness is growing, which will ensure the fulfillment of target indicators for attracting investment in fixed assets.

To date, 113 investment projects totaling 4.4 trillion tenge are under development and implementation, he said.