Fifth CICA business forum held in Astana
Kazakhstan, Russia, Belarus and Mongolia have agreed to jointly support the development of entrepreneurship in the Central Asian region. This was announced at the 5th Business Forum of the Conference on Interaction and Confidence Building Measures in Asia which was held in Astana. It was attended by the representatives from more than 30 member countries and observer countries of the CICA. Key topics were the interaction of business and government, green development, as well as the best practices of the member countries of the Organization in the field of franchising. The Kazakh participants presented business support programs at the forum, in particular, the state program "Business Road Map 2020». According to the chairman of "Damu" Fund, Kanysh Tuleushin, over the past six years of the "Business Road Map 2020" program the implementation, more than 300 thousand new jobs have been saved and created in Kazakhstan. Kazakhstan has approached the world's leading countries by lending to small and medium enterprises.
Kanysh TULEUSHIN, CHAIRMAN, DAMU FUND:
We have supported nearly 35,000 projects in 8-9 years. This is comparable with the number of small and medium-sized businesses of a single region of the country. We have 16 regions. The fund provides support to every fifth borrower in the STB lending market.
The effectiveness of the state program is reflected in the volume of growing tax revenues. It is four times bigger than the amount of lending. Experts say this process is the best evidence of the high rate of return on investment from the state budget.