Kazakh Prime Minister reports to MPs on implementation of President Tokayev’s state-of-the-nation addresses

The share of state participation in the economy has decreased by 14 percent this year. This was achieved through privatization, including through the public offering of shares of two national companies. In total, about 1,000 organizations with state participation have been privatized in the country since 2019, as announced by the country’s Prime Minister Alikhan Smailov. Addressing the expanded meeting of the Amanat party faction, Smailov reported on the implementation of the Kazakh President’s state of the nation address for 2019-2022. Thus, under the new law on industrial policy signed by the Head of State in December 2021, the country has managed to achieve sustainable development of the manufacturing industry. The sector, with an average growth of 4.5 percent, currently provides one-fifth of total state budget revenues. Besides, a mechanism has been introduced to provide raw materials to manufacturing enterprises. Overall, 586 manufacturing projects worth more than 4.6 trillion tenge were put into operation over three years. Smailov also spoke about systemic measures to improve the business environment. He noted that a moratorium on inspections of small and micro businesses in Kazakhstan came into force in 2020 and was extended until 2024.

“It is worth noting that the share of SMEs in the Kazakh economy rose from 31.7 to 36.5 percent, while the number of operating SMEs grew by 27 percent to over 1.8 million. The total number of people employed in the sector also increased by 18 percent to 4.1 million. In general, interaction between the business community and the authorities has been beneficial to Kazakhstan,” Smailov noted.