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Kazakhstan achieves significant expansion in construction industry

Astana, December 25, 2023, The Europe Today: In the first 11 months of 2023, Kazakhstan has witnessed a substantial economic surge in its construction industry, recording a remarkable growth of more than 5.9 trillion tenge (5,918.9 billion). This notable increase, amounting to a 12.6% upswing compared to the corresponding period in 2022, is a testament to the nation’s thriving development.

According to the Kazakhstan National Statistics Bureau, the expansion is predominantly attributed to a surge in construction and repair activities for facilities, marking an impressive 24.9% rise, and non-residential buildings, with a notable 6.8% increase.

Noteworthy is the fact that a significant majority of this progress, precisely 87.3%, is spearheaded by private companies, underscoring the pivotal role of the private sector in Kazakhstan’s construction prowess.

Foreign companies contribute 12.5%, further highlighting the international collaboration driving growth, while state-run companies account for a modest 0.2% share in the overall construction landscape. This data underscores Kazakhstan’s robust construction sector and its positive trajectory in fostering both domestic and global partnerships.