Tengri Bank, AsiaCredit Bank and Capital Bank Kazakhstan will merge into one bank

Kazakhstan seeks to increase the production of products with high added value, and the construction of complexes for deep processing of grain is a priority. This is a strategic direction that allows us to diversify the economy and expand export opportunities. We have everything we need for this: infrastructure, raw material resources and government support measures. The project will be a good example of value-added creation in the agro-industrial sector and introduction of advanced technologies. The Government will provide the necessary support," Olzhas Bektenov said.

The Head of State in his speech at the meeting of the Foreign Investors Council noted Kazakhstan's focus on strengthening the country's position as a key Eurasian transit hub. Special attention is paid to the development of the transport and logistics sector, infrastructure renewal and localisation of machine building in our country. We highly appreciate business initiatives aimed at localising production and are ready to support such companies. The implementation of such projects will allow Kazakhstan to become a hub for the production and modernisation of locomotives and integrate into the global supply chain," Olzhas Bektenov said.

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Next year, it is planned to allocate 200 billion tenge for preferential leasing of agricultural machinery for farmers at 4-5%. If even half of the funds were allocated in Kazagrofinance JSC from January, before the beginning of sowing works, and the second half in June, before the beginning of harvesting works, then two industries in the country - agro-industrial complex and agricultural machinery - would be guaranteed to work for the development of the country's economy," Kairat Yelamanov said.

This year's amendments to the Tax Code on VAT allowed us to establish a clear procedure for the sale of products along the entire chain from the manufacturer to the end customer. We managed not only to attract the world's leading companies for production, but also to reduce the price for buyers of equipment. At the moment we have already mastered operations on moulding of plastic parts of TV sets and water heaters, billetting, welding, enamelling and painting of parts of ovens, washing machines, cookers and hoods, as well as manufacturing of packaging," Kairat Yelamanov said.

We should adhere to economic patriotism to actively buy our Kazakhstani products, promote them in foreign markets," Olzhas Bektenov emphasised.

Kazakhstan will continue deliveries to the markets of Central Asia and Afghanistan, it is about 4.2 million tonnes. In general for cereals exports to China amounted to 1.43 million tonnes in 2023, showing growth of 5.5 times year-on-year," Kairat Torebayev said.

This demonstrates the possibility of increasing supplies to China and Asian countries to 1.6 million tonnes of wheat. It is important to work through the issue of delays at the border due to the requirements of Chinese authorities, as well as complex conditions such as licences and quotas for imports of Kazakh grain in China," Kairat Torebayev added.

It is important to restore supplies to the Iranian market, for barley we are now seeing dynamics, issues of trade financing and logistics will be worked out. Work will be intensified to promote the brand of Kazakh wheat in new markets such as: Pakistan, Indonesia, Brazil, Malaysia, where import growth is predicted," Kairat Torebayev emphasised.

In general, given the policy to increase the level of complexity of exported products, it is important to pay attention to grain processing. This in the long term can be a solution to many export problems," Kairat Torebayev explained.

For October we forecast grain transportation in accordance with the needs at the level of 1.25 million tonnes, which is 26% more than in October last year. Until the end of the year, the rate of increased grain transportation in the volume of 1.2-1.3 million tonnes will be maintained on a monthly basis. There are reserves of throughput capacities in export directions of Central Asia," the Minister said.

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High yields have been achieved due to favourable weather conditions and, of course, the results of proper application of agro-technologies, namely through the use of quality seeds, mineral fertilizers and effective plant protection," the minister said.

There are such cases in all regions. In this regard, I ask regional akims to pay special attention to explanatory work with farms, especially with those who do not follow the technology and rely only on the weather. Although the Government has created all conditions, starting from preferential financing and ending with diesel fuel. In addition, it is important to properly inform agricultural producers about counter obligations, which are introduced from 1 January 2025 and are aimed at increasing the volume of gross agricultural output," the Minister said.

Akimats of regions need to ensure round-the-clock acceptance of grain due to the need to bring grain to them for delivery to Prodkorporatsiya, export shipments and movement to other regions. All necessary conditions have been created for the work of elevators in round-the-clock mode. Thus, along with 362 thousand tonnes of discounted diesel fuel allocated for harvesting, 68 thousand tonnes of discounted diesel fuel have been additionally allocated for grain drying. In addition, 22 thousand tonnes of gas have been allocated for grain drying units operating on liquefied gas," Aidarbek Saparov said.