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Over 1,700 new investment projects to be implemented in Kazakhstan's agro-industrial sector till 2030

1 February 2023, 14:58
Over 1,700 new investment projects to be implemented in Kazakhstan's agro-industrial sector till 2030

ASTANA. KAZINFORM Prime Minister Alikhan Smailov has chaired today a governmental meeting for discussing the updated draft concept of Kazakhstan’s agro-industrial complex development till 2030, Kazinform learned from primeminister.kz.

According to Minister of Agriculture Yerbol Karashukeyev, the document was prepared based on recommendations from business communities and experts, and with the consideration of global challenges and trends, which the domestic agro-industrial complex can face.

The concept is aimed at increasing labour productivity, tripling agricultural products exports and ensuring at least 90% food self-sufficiency. The volume of fixed capital investments is expected to rise by 2.5 times in average.

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Measures will be taken to increase wheat yields to 20 hundred kilograms per a hectare by subsidizing the purchase of seeds and modernizing seed farms. The area of irrigated lands will be expanded to 3 million hectares, while the level of fertilization will be at 40%. The paces of agricultural vehicles renovation shall reach 7% thanks to beneficial leasing and other state support measures.

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The list of Kazakhstani companies in overseas registers will be expanded in order to boost domestic products export. This measure will let boost exports up to $9.9 billion. In general, more than 1,700 investment projects worth 4.5 trillion tenge will be implemented in all the sectors of agriculture, which will significantly increase the country’s export potential.

The concept is called to satisfy domestic markets with home-produced foods, create up to 70,000 new farms and employ as many as 400,000 people.

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Photo: primeminister.kz


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