Diversifying the economy is a priority for the government of Kazakhstan. In partnership with ADB, the government is helping businesses to grow and become regionally competitive.
Title: ADB and Kazakhstan: Developing the Agricultural Business Sector
Description: Diversifying the economy is a priority for the government of Kazakhstan. In partnership with ADB, the government is helping businesses to grow and become regionally competitive.
VO: In the outskirts of Kostanay in the north of Kazakhstan, RG Brands is helping to diversify the Kazakh economy. RG is one of the country’s leading producers of juice, milk and other beverage products.
With a forty point two million dollar loan from the ADB, the company is stream lining and upgrading its operation - with the aim of more than doubling their revenue over five years.
Chief Financial Officer
SOT: We have three key pillars of growth. First one is home dominance and increasing the market share and growing the home market in Kazakhstan. The second one is the product development and the third one, very important, is also to expand our exports.
VO: Developing the agro-industry sector will help reduce Kazakhstan’s economic dependence on oil and gas – which are the country’s main exports and drivers of growth.
The ADB loan will also assist other local businesses as the demand for local milk and fruit grows.
SOT: We have to be sure that we have sustainable funding base so in this sense I think the Asian Development Bank best fits to deliver these targets and to enable us to actually achieve the goals we are actually setting in front of us.
VO: ADB’s first private sector agribusiness project in Kazakhstan - increasing a vital sector, providing jobs, and expanding the country’s economy.