Kazakhstan is advancing efforts to cut imports of finished goods by bolstering domestic production. The initiative was a focal point during a Senate plenary session attended by Prime Minister Olzhas Bektenov and government officials.
Discussions also included draft laws on the national budget and guaranteed transfers from Kazakhstan’s National Fund for 2025-2027. Prime Minister Bektenov highlighted the importance of economic diversification, noting a significant shift in the country’s industrial landscape.
“The manufacturing industry has surpassed the raw materials sector, accounting for 47 percent of total industrial output compared to 45 percent for raw materials,” Bektenov stated.
He outlined the government's efforts to support local producers, including expanding the list of goods sourced exclusively from domestic suppliers from 1,500 to 4,500 items. These measures led to a 55 percent rise in contracts with domestic producers, reaching 350 billion tenge (approximately $704 million).
Bektenov also highlighted the success of off-take agreements, which secure product supply commitments from local manufacturers. “The total value of off-take contracts this year reached 134 billion tenge (approximately $270 million), a 14-fold increase from last year,” he noted.
Additionally, the implementation of large-scale industrial projects nationwide has driven a 6.4 percent increase in exports of finished products and a 7.2 percent reduction in imports.
The government’s initiatives underline its commitment to strengthening Kazakhstan’s self-sufficiency and economic resilience through strategic industrial growth.
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The agreement, finalised at COP29 in Baku, Azerbaijan, establishes that developed countries will contribute $300 billion annually by 2035 to assist poorer countries in mitigating the effects of climate change.
Delegates at COP29 in Baku push for consensus on climate finance targets, with calls for urgent action to address the global climate crisis as negotiations intensify.
Short-term rental owners in Croatia protested against proposed tax hikes, claiming the measures unfairly target low-income earners and threaten their livelihoods. The government argues the changes aim to tackle a housing crisis driven by tourism demand.
Global tensions rise at COP29 in Baku as developing nations reject the proposed $300B climate finance goal, demanding at least $500B annually to address urgent needs. Negotiations face a breaking point as blocs threaten to walk out over unmet demands.
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