Investment & Devpt Minister points out high demand for Kazakhstan-assembled cars

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ASTANA. KAZINFORM - Every second car bought by citizens of Kazakhstan was assembled in the country, Minister for Investment and Development of the Republic of Kazakhstan Zhenis Kassymbek stated, Kazinform correspondent reports.

Addressing the 6th Forum of Machine Builders of Kazakhstan, Zhenis Kassymbek said that over the past eight months of this year, the manufacture of cars has increased by 150% year-on-year, exceeding 19,000 motor vehicles. The value of the products made amounted to nearly KZT 120 billion, i.e. 1.6 times more than in the comparable period of last year.

"Within the framework of the program being drawn up, we plan to produce about 100,000 cars in Kazakhstan by 2020 and aim at achieving a 50% localization of production in Kazakhstan in the next 2-3 years," the minister told the forum participants.

According to him, the sharp output increase was caused by the recovery of the market demand, the opening of export markets, as well as the Government's program of soft automotive lending and lease financing that "together have made a positive impact on the development of the automotive sector.".

"Every third car sold in Kazakhstan in 2017 was produced by domestic enterprises, whereas this year every second car sold in Kazakhstan was produced by domestic enterprises," Zhenis Kassymbek clarified.

The Minister promised that next year it is planned to continue implementing the program of soft automotive lending and lease financing for buses, agricultural machinery, and other commercial vehicles.

It should be mentioned that the theme of the current Forum is "New Development Opportunities amidst the Fourth Industrial Revolution". The forum is organized by the Ministry for Investment and Development of the Republic of Kazakhstan, the Union of Machine Builders of Kazakhstan with the support of the Government and Samruk-Kazyna JSC (the general partner).

 

 

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