Market needs be cleared of monopolists - Tokayev on auto industry development

During the working trip to Almaty, President Kassym-Jomart Tokayev checked the readiness to launch Kazakhstan plant for the production of Hyundai Trans Kazakhstan autos, refers to the Akorda press service reporting.

The President was shown the cars assembling process and a new workshop for the production of cars using small-knot assembly, which is scheduled to open on October 15, 2020.

The project is being implemented with the support of state structures in the Industrial Zone of Almaty. After commissioning, the capacity of the enterprise at the first stage is to be 30 000 cars per year, at the second stage - up to 45 000. The total volume of investments is more than 28 billion tenge, 30% of which are the company's own funds. Hyundai Trans Kazakhstan will create about 700 jobs and stimulate the development of related industries.

In the future, investors are planning to build auto components production. Thus, the company will achieve its goals for the development of the domestic auto industry - to provide more than 51% of localization.

After inspecting the facility, the President discussed with the industrial zone residents the issues of support for private entrepreneurship and the development of priority industries.

He noted that the situation in the country's economy due to the pandemic is still not easy, the crisis can be overcome only through joint efforts of the state and business. Agencies for strategic planning and reforms, for the protection of competition have been created.

“We need to clear the market of monopolists, to give all worthy entrepreneurs the opportunity to enter our market and work freely. This is the only way the economy can develop freely. Naturally, all this required the adoption of new organizational measures. I hope they will be effective,” he emphasized. ...

The President stated that together with economic measures, the state will take steps to further democratize Kazakhstan society. The task is to give a new impetus to the development of Kazakhstan.

Business representatives expressed support for the measures voiced in the state of the nation Address, and also asked the President to extend the moratorium on livestock export.

18:52, 25 September 2020