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Industrial State Program had little effect on Kazakhstan's economy: Nazarbayev

21 july 2014, 16:23
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Photo courtesy of newskaz.ru
Photo courtesy of newskaz.ru

President of Kazakhstan Nurusltan Nazarbayev has summarized the results of the implementation of the first 5 years of the State Program of Accelerated Industrial and Innovative Development (SPAIID) on July 2, Tengrinews reports citing Novosti-Kazakhstan.

“We have reached positive results, but despite the positive shifts, the implementation of the program has not had a substantial enough effect on our economy. Growth of the processing industry has decreased. Its share in the GDP has decreased from 11.3% in 2010 to 10.9% in 2013. Experts note a reduction in the share of non-extractive goods in the country's export from 30% to 20% while mining industry has not grown significantly either,” Nazarbayev said.

“We failed to create a chain-reacting amount of successful industrial projects based on innovative and new technologies that could become a starting point for an industrial revolution,” the President added, noting that results of 2014 are important for Kazakhstan's 2050 Development plan.

“Setting up a pace of economic development in the first have of this year is very important, especially since the recovery of the world economy is slow (...) and is impaired by the dangers posed by unwise political decisions that leave an aftermath like that in Ukraine in its wake, involving economic standoffs, ultimatums, sanctions, threats of interruption of the flow of commerce - a very bad signal for the market,” Nazarbayev said.  

Kazakhstan's Minister of Industry and New Technologies Asset Issekeshev said that 80% of projects in the SPAIID were operating on schedule.

“In 4.5 years there 672 projects were initiated and 69 thousand jobs were created. The government is monitoring execution of the projects. (...) 300 projects are working at full capacity already, while 70 projects are struggling with getting a stable work load and working at 25-30% of their capacity. But we are working to improve the situation,” Issekeshev said.

Minister of Economy and Budget Planning Yerbolat Dossayev said that $20 billion were allocated from the state budget for the first phase of the state-run program in 2010-2013 and another $13 billion came from private investors. And Kazakhstan was planning to spend over $3.5 billion on the second phase of the program in 2015-2019.

“We are planning to attract $32 billion of investments through quasi-public and private sectors. $3.5 billion will be invested from the state budget. In addition, $5.4 billion will come from the National Fund (that accumulates windfall oil profits),” Dossayev said.

According the Economy Minister, the second stage of the SPAIID will be executed with due consideration of the experience gained during implementation of the first stage of the program implementation. 

“SPAIID-2 will have a distinct connection with the country's regional specifics. Every region will have its own economic specialisation.  This would help us avoid duplication of projects and strengthen cooperation between the regions,” the Minister added.

Writing by Gyuzel Kamalova, editing by Tatyana Kuzmina


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