Economic Aspects of the 'National Construction Program' Discussed in Kazakhstan

Experts have discussed the economic aspects of implementing the President's "National Construction Program." In alignment with goals set by President Kassym-Jomart Tokayev in his address "Current Challenges of Kazakhstan in a New Historical Cycle," the Kazakhstan Institute for Strategic Studies under the President of the Republic of Kazakhstan (KISS) collaborated with JSC "Kazakhstan Housing Company" and JSC "Kazakhstan Industry and Export Center 'QazIndustry'" to hold an expert discussion on the implementation of the "National Construction Program," as reported on the website of the RK Ministry of Industry and Infrastructure Development.

The President's initiative to proclaim 2027 as the Year of Nationwide Construction outlines new benchmarks for developing the construction sector, attracting investments, and expanding domestic production. The event served as a platform for a comprehensive examination of the economic, investment, and industrial aspects of the initiative. By combining analytical expertise, housing finance tools, and industrial development opportunities, KISS, the Kazakhstan Housing Company, and QazIndustry presented a joint vision for the prospects of the new construction cycle in the analytical report "The Great National Construction of Kazakhstan: Scope and Development Horizons."

Jandos Shaymardanov, Director of KISS under the President of the RK, emphasized that the Program is part of a broader economic agenda outlined in the Address, aimed at attracting investments, fostering entrepreneurship, and modernizing domestic industry.

"The forthcoming great construction creates opportunities for mobilizing the country's financial, investment, production, and labor resources. State investments should act not only as a source of infrastructure project funding but also as a stimulus for attracting private capital, expanding entrepreneurship, and developing related industries," stated Jandos Shaymardanov.

Lyazat Ibragimova, Chairperson of the Board at JSC "Otbasý Bank," highlighted the importance of increasing housing affordability and developing housing finance mechanisms. She stressed the need to improve the housing savings system, expand citizens' opportunities to acquire housing, and ensure a connection between the growth in housing construction volumes and the solvent demand of the population.

Alтай Куздибаев, Chairman of the Board of JSC "Kazakhstan Housing Company," focused on the prospects for housing construction development, existing mechanisms of state support, and attracting private investments.

"Housing construction is one of the key areas of development in the construction industry, which has achieved record housing commissioning volumes in recent years. However, increasing construction volumes requires a comprehensive approach to developing engineering networks, transport, and social infrastructure to create a comfortable environment in our cities and rural areas. The availability of long-term financing and mechanisms for attracting private investments play a crucial role in ensuring the consistent implementation of projects," emphasized Alтай Кузdiбаев.

Eldar Gumarov, Chairman of the Board of JSC "Kazakhstan Industry and Export Center 'QazIndustry,'" highlighted the significant potential of the new construction cycle for developing domestic industrial production and related sectors of the economy.

"The Year of Nationwide Construction is not just a campaign to erect infrastructure but a powerful industrial policy in action," noted Eldar Gumarov, emphasizing the necessity to increase the share of value added that is generated within the country.

During the presentation of the joint analytical report "The Great National Construction of Kazakhstan: Scope and Development Horizons," an analysis was presented on the state and dynamics of Kazakhstan's construction market, the prospects for implementing large-scale infrastructure and investment projects, as well as the regional characteristics of construction activity. Special attention was given to the development of housing construction, mechanisms for its financing, and the capacity of the domestic industry to meet the growing demand for construction materials and equipment. Potential economic effects of large-scale construction were also considered, including investment attraction, development of related sectors, strengthening production cooperation, and expanding the participation of Kazakh enterprises in infrastructure projects.

During the expert discussion, participants discussed prospects for developing the construction complex, mechanisms to enhance the economic returns of infrastructure investments, opportunities for expanding domestic production, and involving small and medium-sized businesses in implementing large-scale projects. The expert discussion helped outline future directions for cooperation among analytical communities, development institutions, and business representatives in the context of implementing the goals set by the Head of State in the Address to the people of Kazakhstan.

Reported by ЖКХ24 referencing the Construction, Architecture, and Urban Planning Department of Kostanay Region.

Photo: gov.kz