Kazakhstan sees 11.3% growth in construction sector
Kazakhstan sees high growth rates in the construction sector and an increase in the volume of housing put into operation. According to the official data, the growth was recorded at 11.3 and 12.5 percent in the past five months. At the same time, the authorities have foreseen measures for import substitution. In particular, it is planned to increase the capacity of existing plants along with the opening of new enterprises. This was reported at a Government’s meeting by Kazakh Minister of Industry and Infrastructure Development Beibut Atamkulov. The demand for building materials has grown due to the high rates of housing construction in the country, and it is important now to ensure stable prices in the market. Therefore, nearly 80 new enterprises will be opened in Kazakhstan by 2025.
“In accordance with the election program of the Nur Otan Party, 103 million square meters of housing will be built in five years. Taking into account the growth rates of housing commissioning, it is necessary to increase the capacity of existing enterprises and implement new advanced investment projects. This helps reduce the industry’s dependence on imports. Out of 79 projects implemented in 2021 to 2025, 22 projects worth 360 billion tenge are import-substituting. It is planned to open new enterprises to provide domestic construction products – ceramic tile, mineral wool insulation, wood-based panels and others,” said Beibut Atamkulov, Kazakh Minister of Industry and Infrastructure Development.