Kazakh government to develop comprehensive program to support medium-sized businesses
Kazakhstan is set to develop a comprehensive program aimed at supporting medium-sized businesses, with the involvement of businesspeople, MPs, and representatives of local executive bodies to ensure the document meets all entrepreneurs’ expectations. The country has a potential for localization of goods, works and services worth over 10 trillion tenge, some of which could be produced and rendered by medium-sized enterprises. In order to give impetus to this direction, it is planned to expand the list of domestic production customers.
“We need to develop concrete measures taking into account suggestions from the business community itself. We should provide appropriate tax, administrative and other incentives in all areas so that medium-sized businesses are strengthened. Such measures will lead to increased employment, transparency, and social protection for those employed in these enterprises, and will generally contribute to the development and diversification of our economy,” said Kazakh Prime Minister Alikhan Smailov.
According to the Ministry of National Economy, there are currently nearly 3,000 medium-sized enterprises operating in Kazakhstan, contributing over six percent to the country’s GDP. Besides, they provide permanent employment to about 380,000 people.