Kazakhstan seeks to attract $9.5 billion in agriculture investment by 2025

Published 2021년 3월 3일

Tridge summary

The Kazakh government is planning to invest four trillion tenge (US$9.57 billion) in its agriculture sector, with the aim of creating an additional 500,000 jobs and increasing self-sufficiency in food products to 80 percent. The ministry is planning to implement 380 investment projects, including 250 import substitution projects, and will also reduce imports of certain goods. The state will expand support measures and simplify procedures, and there are plans to offer 50,000 microcredits worth 250 billion tenge (US$598.3 million) to rural residents over the next five years.

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Original content

NUR-SULTAN – The Kazakh government plans to attract four trillion tenge (US$9.57 billion) of investments in its agriculture sector, said Kazakh Prime Minister Askar Mamin during a government meeting on March 2. Addressing the meeting, Kazakh Minister of Agriculture Saparkhan Omarov said the ministry plans to implement 380 investment projects, including 250 import substitution projects. Annually, it seeks to launch up to 80 investment projects. Overall, officials expect it will create up to 500,000 additional jobs. Omarov outlined the priority tasks for the ministry. These include increasing the self-sufficiency of the domestic market with food products up to 80 percent, increasing incomes for one million rural residents, increasing labour productivity by two and a half, as well as doubling exports of processed products. The ministry also decided to cut imports of poultry, sausages, cheese and cottage cheese, apples, sugar and fish. For each area, there is a specific pool of ...

Source: Astanatimes