During his annual Address to the People of Kazakhstan, President Kassym-Jomart Tokayev highlighted that humanity has entered another era of unprecedented challenges and profound changes.
In his Address, the Head of State stated that the country is transitioning to a new economic model, as reported by Sarbaz.kz.
President Tokayev emphasized that fundamental shifts are occurring today in the global economy and international division of labor.
"The technological race is gaining momentum, competition for resources is intensifying worldwide. Climate change, food security, sustainable demographic development have become highly relevant issues. In other words, humanity has entered another era of unprecedented challenges and profound changes. At such a crucial period, we have all the opportunities for a powerful economic leap. To achieve this, we must gradually, firmly, and decisively transition to a new economic model, with the real improvement of citizens' lives at its core," noted the Head of State.
Furthermore, Kassym-Jomart Tokayev stressed the importance of utilizing the country's resources, talents, and products.
"In other words, everything that is referred to as domestic value. Through a new industrial policy, we will need to shift to a qualitatively different development model. The state, together with large enterprises, must 'close' the production cycle in the country. To do this, we will need to apply both regulatory and incentive mechanisms. The processing industry must receive sufficient raw materials at reasonable prices. It is also important to increase the share of domestic products in regulated purchases and fully launch the local content system. The share of off-take contracts with domestic producers should be increased to at least 10%. This is 2 trillion tenge annually," said K. Tokayev.
