Almaty-based businesses honored as top performers in Kazakhstan
In a significant milestone for Kazakhstan's economic modernization, President Kassym-Jomart Tokayev has outlined key achievements and initiatives that underscore the country's commitment to industrialization and technological development.
During the awards ceremony of the "Altyn Sapa" competition winners in Almaty, Tokayev highlighted several significant strides, including the development of a modern pharmaceutical industry, energy sector modernization, nuclear energy development, and digital innovation through "CryptoCity."
The pharmaceutical sector has seen a significant boost with the establishment of a $58.8 million plant, aimed at not only manufacturing but also technology transfer, workforce skill development, and expanding export potential in pharmaceuticals. This project aligns with Kazakhstan’s broader industrialization priorities to increase the share of local production, especially in high-tech sectors like pharmaceuticals, including treatments for oncological diseases.
Energy infrastructure has also been a focus, with Kazakhstan advancing its energy sector through important deals with China in energy, technology, and infrastructure. The country's plans for the expansion of gas-fired power capacity, energy storage systems, and hydrogen energy development reflect a commitment to industrializing with a focus on sustainability and grid flexibility. Kazakhstan is investing in hydrogen production, storage, and transport technologies, aiming to become a key exporter of this energy source to Europe.
Recognizing the country's vast uranium reserves, Tokayev has prioritized nuclear energy as a strategic pillar for long-term economic development, reinforcing the industrialization agenda with a focus on sustainable and clean energy solutions.
In the digital realm, Tokayev announced the establishment of a pilot innovation zone named "CryptoCity" to enable free circulation of cryptocurrencies, supporting the country’s digital transformation and the introduction of advanced technologies in the industrial and financial sectors.
The industrialization vision integrates traditional sectors like energy and pharmaceuticals with new technology-driven initiatives, emphasizing sustainability, technological innovation, and export capacity enhancement as cornerstones of Kazakhstan’s economic advancement.
The awards ceremony, attended by Tokayev, recognised winners in various categories, including service provision, production, food and agricultural products, industrial projects, and laureates. Over 200 new productions are being launched this year, creating 20,000 new jobs and adding to the 200,000 jobs created during the years of industrialization in Kazakhstan.
The share of small and medium-sized businesses in Kazakhstan's economy has increased from 24% to 32% over the past five years, with the number of people employed in entrepreneurship growing by 21%, from 2.8 to 3.4 million over the same period.
The competition's winners were selected from enterprises based in Almaty, with the "Almaty Bridge Construction Plant" being named the best production enterprise, "Aksay" Combine the most advanced company for food and agricultural products, "AO "KELET" the most industrial project, and the "Almaty Turan" University the best for service provision.
The "Almaty Turan" University, established in 1992, offers bachelor, master, and doctoral programs. The company "Mimioryki" also became a laureate of the competition.
These developments in Kazakhstan's industrialization are set to transform the country into a diversified, competitive industrial economy.
The establishment of a $58.8 million pharmaceutical manufacturing plant in Kazakhstan serves the dual purpose of boosting the local production of high-tech sectors like pharmaceuticals and treating oncological diseases, aligning with the country's industrialization priorities.
tokayev's announcement of the pilot innovation zone named "CryptoCity" demonstrates Kazakhstan's commitment to integrating digital finance in the industrial sector and supporting the country’s digital transformation.
