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Kazakhstan-based companies aim to boost their manufacturing output by $46bn, media reports. This will be achieved by focusing on key areas such as oil and gas engineering, building materials production, food, and fertilizer.

Prime Minister Alikhan Smailov has announced that over KZT 500bn will be allocated to finance medium-sized business projects in 2023. The aim is for businesses that receive state support to expand their production, increase the output of non-raw materials, and prioritize saturating the domestic market.

The ultimate goal is to achieve the maximum economic effect that will contribute to the further diversification of the economy and the creation of permanent jobs.

The government is committed to supporting initiatives that create and expand new industries, with 170 projects worth over a trillion tenge planned for implementation this year.

Additionally, 300 projects worth KZT 540bn are planned for the agro-industrial complex.

The government is also expanding the list of tax and customs preferences, including for exporters of finished products.

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