421 Billion Tenge Allocated for Business Road Map-2025
The goal of a new Business Road Map-2025 program is to account over one third of Kazakhstan’s economy for small and medium-sized businesses in the next five years. The Government has held a discussion on the project implementation.
421 billion Tenge was allocated to the business support which is one and a half times more than the funding in the last five years. The share of small and medium-sized enterprises in GDP is planned to be increased to 35 percent. 13.4 percent is expected to be contributed to the economy by the manufacturing industry. Business environment is being improved while the barriers to business were removed and the list of permits reduced in order to achieve the goal in Kazakhstan.
Moreover, incentive measures on SME development is being taken as well.
“Firstly, the subsidies and loan guarantees by microfinance organizations are introduced to increase working capital loans from 60 to 360 million Tenge as well as expand the access to financing. Requirements for the program participants are improved to ensure the growth of employment and tax revenues. The support for entrepreneurs at all stages is strengthened as well. The training contributes to the preparation of documents to obtain loans and support as well as establish a sales chain,” said Kazakh Minister of National Economy, Ruslan Dalenov.