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Mechanism for sustainable development of economic potential of food industry

Author

Listed:
  • Alma Baiguzhinova

    (Narxoz University, Kazakhstan)

  • Lutpulla Omarbakiyev

    (Turan University, Kazakhstan)

  • Dinara Yeshpanova

    (Narxoz University, Kazakhstan)

  • Assylbek Bazarbayev

    (Narxoz University, Kazakhstan)

  • Gulnar Abdrakhmanova

    (Satbayev University, Kazakhstan)

  • Alma Karshalova

    (Narxoz University, Kazakhstan)

Abstract

The purpose of this paper is to identify major deterrents hindering sustainable development of the food industry in the Republic of Kazakhstan and to chart steps to overcome the challenges involved. Methodologically, the study relies on retrospective analysis to evaluate development trends in the food industry, as well as an expert survey of Kazakh food industry professionals. The findings indicate that Kazakhstan has considerable potential, yet it is not yet utilised efficiently. With the rising demand for processed food products, small and medium businesses in the food industry often cite raw material shortages as a major obstacle for running production at full capacity. Moreover, experts also refer to other factors hindering the development of the food industry, such as financial deficits, high proportion of outdated and worn equipment, outdated production processes, etc. According to the experts, the priorities in addressing the challenges of sustainable development include refinement of government support measures in the food industry and establishment of modern infrastructure to ensure proper storage and delivery of products to consumers, For example, establishment of agroparks and networks of rural transformation centres, as well as digitalisation of the industrial production of food products.

Suggested Citation

  • Alma Baiguzhinova & Lutpulla Omarbakiyev & Dinara Yeshpanova & Assylbek Bazarbayev & Gulnar Abdrakhmanova & Alma Karshalova, 2020. "Mechanism for sustainable development of economic potential of food industry," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(1), pages 825-840, September.
    • Handle: RePEc:ssi:jouesi:v:8:y:2020:i:1:p:825-840
    DOI: 10.9770/jesi.2020.8.1(55)
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    References listed on IDEAS

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    2. Ekaterina S. Sapozhnikova & Larisa P. Domracheva & Alexandr N. Timin & Svetlana V. Grin & Dmitry A. Loginov, 2017. "Economic Security of Agro-Industrial Complex as a Basis of National Food Security," Contributions to Economics, in: Elena G. Popkova (ed.), Overcoming Uncertainty of Institutional Environment as a Tool of Global Crisis Management, pages 21-30, Springer.
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    More about this item

    Keywords

    sustainable food system; sustainable development; food production; food industry; manufacturing; economic potential;
    All these keywords.

    JEL classification:

    • Q10 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - General
    • Q11 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Aggregate Supply and Demand Analysis; Prices
    • Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets

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