KAZAKH GOVERNMENT TO ALLOCATE 100 BILLION TENGE FOR SME

KAZAKH GOVERNMENT TO ALLOCATE 100 BILLION TENGE FOR SME

The Kazakh Government will allocate about 100 billion Tenge for small and medium businesses in Kazakhstan. President Nazarbayev has instructed the Government to allocate funds to the priority projects in manufacturing, agricultural and service sectors. The Government is set to increase the share of SMEs in the Kazakh economy up to 35% by 2025.   

TIMUR SULEIMENOV, KAZAKH MINISTER OF NATIONAL ECONOMY

-Under theBusiness Roadmap 2020’ program, the Government will subsidize half of the interest rates of the enterprises to reduce the cost of loans. As part of the extended ‘Business Roadmap 2020’ program, the Government will also improve the financial support tools by 2025. During the selection of the projects, we will focus on the projects’ performance and competitiveness and will deny support for low performing enterprises. The selection criteria will allow ensuring the allocated budget funds are used effectively.

The Kazakh Government will also improve non-financial support measures, which is aimed at supporting small and medium businesses. Specialized training programs will particularly be organized for entrepreneurs with the focus on IT services and new digital technologies.