{"id":8277,"date":"2023-09-10T14:08:23","date_gmt":"2023-09-10T14:08:23","guid":{"rendered":"https:\/\/www.fundsspectrum.com\/2023\/09\/10\/investment-opportunities-in-kazakhstans-engineering-industry\/"},"modified":"2023-09-10T14:08:23","modified_gmt":"2023-09-10T14:08:23","slug":"investment-opportunities-in-kazakhstans-engineering-industry","status":"publish","type":"post","link":"https:\/\/www.fundsspectrum.com\/2023\/09\/10\/investment-opportunities-in-kazakhstans-engineering-industry\/","title":{"rendered":"Investment Opportunities in Kazakhstan\u2019s Engineering Industry"},"content":{"rendered":"
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Kazakhstan, 10th Sep 2023, <\/strong>King NewsWire<\/strong><\/a> \u2013<\/strong> Discovering Kazakhstan\u2019s Potential<\/strong><\/p>\n

Nestled in the heart of Central Asia, Kazakhstan has emerged as a land of immense investment potential. Rich in natural resources and strategically located between Europe and Asia, the country has made significant strides in diversifying its economy and attracting foreign investments. One of the key sectors driving Kazakhstan\u2019s economic growth is the engineering industry. With a vision for innovation, a growing domestic market, and a favorable investment climate, Kazakhstan offers compelling opportunities for investors looking to tap into the engineering sector.<\/p>\n

Engineering Industry: A Strategic Focus<\/strong><\/p>\n

The engineering industry in Kazakhstan has experienced substantial growth in recent years, buoyed by a supportive ecosystem and strategic partnerships with global giants. Recognizing the importance of this sector, Kazakhstan has successfully attracted renowned international companies, including Wabtec, Alstom, and Hyundai Motor Company, among others. These collaborations have led to the introduction of cutting-edge products, such as Kia, Hyundai, Lada, Renault, and Chevrolet vehicles, which were previously unavailable in the country.<\/p>\n

Amidst the remarkable growth of Kazakhstan\u2019s engineering industry, a glaring opportunity for domestic production and import substitution emerges. The nation\u2019s reliance on imported engineering products, which accounted for over 40% of the total imports of processed goods, signifies a significant gap waiting to be bridged. With imports of engineering goods amounting to a substantial USD 20 billion in the previous year, Kazakhstan\u2019s ambition to bolster domestic manufacturing and decrease dependency on foreign imports becomes all the more apparent.<\/p>\n

The absence of certain high-tech and mass production machine-building facilities has led to a heavy reliance on imports. As the engineering sector continues its upward trajectory, stakeholders are keenly aware that reducing import dependency not only strengthens economic resilience but also fosters technological advancement and innovation. The gap between domestic demand and supply creates the perfect incentive for investors to engage in collaborative ventures with the aim of revitalizing the local engineering ecosystem.<\/p>\n

Opportunities and Challenges in the Engineering Sector<\/strong><\/p>\n

Kazakhstan\u2019s engineering industry is marked by both opportunities and challenges. The automotive industry, constituting 39.4% of the engineering sector\u2019s production volume, takes the lead, followed by electrical engineering and railway engineering. Notably, export volumes doubled in 2022, reaching USD 3.8 billion, a testament to the industry\u2019s potential.<\/p>\n

The country\u2019s commitment to enhancing domestic manufacturing is underscored by its focus on the oil and gas engineering sector. Kazakhstan\u2019s rich oil and gas reserves have spurred large-scale projects like Tengiz, Kashagan, and Karachaganak. This presents a golden opportunity for investors to contribute to the localization of equipment and spare parts production, in collaboration with foreign companies. The International Center for the Development of Oil and Gas Engineering, supported by global energy leaders like Chevron and ExxonMobil, seeks to bolster local content and empower domestic producers, fostering sustainable growth.<\/p>\n

State Support Measures for Investors<\/strong><\/p>\n

Kazakhstan has established a range of support measures to facilitate investors\u2019 entry into the engineering sector. With a keen eye on the evolving geopolitical landscape, the country is welcoming foreign companies to review their strategies and operations, offering a fertile ground for the development of new industries.<\/p>\n

KAZAKH INVEST: Your Partner in Kazakhstan\u2019s Growth<\/strong><\/p>\n

As investors seek to capitalize on Kazakhstan\u2019s thriving engineering industry, KAZAKH INVEST stands ready to provide unwavering support. With their expertise and dedication, investors can leverage Kazakhstan\u2019s potential and contribute to the nation\u2019s remarkable economic journey.<\/p>\n

Media Contact<\/h3>\n

Organization<\/b>: Kazakh Invest<\/p>\n

Contact Person<\/b>: Leyla Gimranova<\/p>\n

Website<\/b>: https:\/\/invest.gov.kz\/<\/a><\/p>\n

Email<\/b>: l.gimranova@invest.gov.kz<\/a><\/p>\n

Country<\/b>: Kazakhstan<\/p>\n

Release Id<\/b>: 1009236232<\/p>\n

The post Investment Opportunities in Kazakhstan\u2019s Engineering Industry<\/a> appeared first on King NewsWire<\/a>. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Kazakhstan, 10th Sep 2023, King NewsWire \u2013 Discovering Kazakhstan\u2019s Potential Nestled in the heart of Central Asia, Kazakhstan has emerged as a land of immense investment potential. Rich in natural resources and strategically located between Europe and Asia, the country has made significant strides in diversifying its economy and attracting foreign investments. One of the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[62],"tags":[],"class_list":["post-8277","post","type-post","status-publish","format-standard","hentry","category-vehement-finance-news-network"],"_links":{"self":[{"href":"https:\/\/www.fundsspectrum.com\/wp-json\/wp\/v2\/posts\/8277"}],"collection":[{"href":"https:\/\/www.fundsspectrum.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fundsspectrum.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fundsspectrum.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fundsspectrum.com\/wp-json\/wp\/v2\/comments?post=8277"}],"version-history":[{"count":0,"href":"https:\/\/www.fundsspectrum.com\/wp-json\/wp\/v2\/posts\/8277\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.fundsspectrum.com\/wp-json\/wp\/v2\/media?parent=8277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fundsspectrum.com\/wp-json\/wp\/v2\/categories?post=8277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fundsspectrum.com\/wp-json\/wp\/v2\/tags?post=8277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}