Nyrly Zhol To Be Kazakhstan's Economic Driver, Says President

KUALA LUMPUR, Oct 6 (Bernama) -- Kazakhstan's new economic policy, Nyrly Zhol, will be the driver of growth for the country's economy in the coming years, said President Nursultan Nazarbayev. In a statement issued by the Kazakhstan Embassy in Malaysia, he said under the policy, about 200,000 new jobs will be created from road construction, raising the people's incomes. Kazakhstan had a population of 17 million in 2013. "Nyrly Zhol will create a multiplier effect in other economic sectors; production of cement, metal, machinery, bitumen, equipment and related services. "Roads are the lifeline for Kazakhstan, and life has always emerged and developed in our vast expanses around roads," he said. Kazakhstan must create a road, rail and air network in all directions radiating from Astana, the Central Asian republic's capital, he said. The country has allocated 1 trillion tenge (RM1=80.35 Tenge) from the National Fund to support its economic growth including reviving the banking sector, improving investment conditions and continuing the construction of Astana Expo 2017. The expo is set to be the largest global showcase in 2017 with over 3,000 events held over 93 exhibition days. Themed "Future Energy", it is aimed at bringing together the global community in their efforts to take action in response to global energy challenges. Malaysian Minister of Energy, Green Technology and Water Datuk Seri Dr Maximus Ongkili was reported as saying that the expo would provide a platform for both Malaysia and Kazakhstan to further enhance bilateral relations especially in trade, which stood at about US$100 million (US$1=RM4.13) in 2015. "The expo will also provide big prospects for Malaysian industry players, including small and medium enterprises, to discover new export markets for their products especially in Central Asia. "Fifty of Malaysia's best industry players will showcase the country's innovations, best practices and capabilities in green energy and technology at Astana EXPO 2017, a specialised exhibition, to be held from June 10 to Sept 10, 2017," he said. -- BERNAMA