Kazakhstan to support potential of medium and small-sized businesses

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The project of the Nationwide Action Plan for the implementation of the Address of the Head of State to the people of Kazakhstan dated September 1 of the current year was discussed at the government meeting of Kazakhstan, the press service of the President of Kazakhstan reports.

Speaking at the meeting, the Minister of National Economy of Kazakhstan, Alibek Kuantyrov, talked about measures to support and develop small and medium-sized enterprises (SMEs). He said, "A Comprehensive Program for the support and development of small and medium-sized businesses will be developed by merging two programs, the 'Business Roadmap' and the 'Economy of Simple Things.' The comprehensive program will focus on supporting competitive and growth-potential SMEs. It will also implement package solutions with a wide range of support measures depending on the business category and technological complexity level. Business commitments will also depend on their stage in the lifecycle and level of competitiveness."

These approaches are planned to be built on the priority of developing and supporting a strong and competitive middle segment of businesses that demonstrate growth potential and aspire to produce more complex goods and enter foreign markets.

Criteria for entrepreneurship subjects (income, number of employees) will be revised to expand the middle business segment and discourage entrepreneurs from fragmentation.

Additionally, to improve the operational efficiency of state business support, there are plans for a structural transformation of the "Baiterek" holding, including through digitalization.

CentralasianLIGHT.org

September 10, 2023