Impact of investments on labour productivity in the chemical and petrochemical industry of the Republic of Kazakhstan

Abstract

Relevance. Currently, the petrochemical and chemical industries are one of the main areas in the international economy. That is why it is important to choose effective alternative networks by promoting investments in factories to achieve certain indicators in the field of labour. The relevance of this topic is conditioned by the fact that labour productivity in the modern environment plays a crucial role in the activities of various industries. Purpose. The purpose of the study is to assess the correlation of investment and labour productivity in the chemical and petrochemical industry of the Republic of Kazakhstan. Methodology. The study used several methods of scientific research, specifically: correlation and regression analysis. Results. As a result, it was possible to explore the areas of activity responsible for the development of the chemical and petrochemical industry, namely: the development and production of oil, associated (petroleum) and natural gas, the production of chemical and petrochemical products, the production of coke and refined petroleum products, the development of rubber and plastic products. This allowed establishing the level of impact of investments on labour productivity of each of the above-mentioned sub-sectors. In addition, statistical data were investigated, based on which indicators were established reflecting the features of interaction between such components as investment, industrial development, and the improvement of professional personnel. The factors that qualitatively affect the efficiency of external market conditions for corporations are disclosed. Conclusions. The research shows that investments in chemical products, coke, and refined petroleum are more effective than those in crude oil and natural gas production. The practical value of the study is revealed in the possibility of using the results when developing development plans for specific chemical and petrochemical enterprises in the Republic of Kazakhstan, by attracting a specific type of investment. Keywords: energy efficiency; capital; infrastructure; productivity factors; innovation