Contribution of SMEs to Kazakhstani GDP reaches 36.5%

economy
Photo: Viktor Fedyunin

Small- and medium-sized enterprises provide 45% of the country’s population with employment, Kazinform News Agency correspondent reports.

The work of our government focuses on building a favorable business climate, primarily for small- and medium-sized enterprises. SMEs are developing at rapid pace, but not enough to be satisfied with. Over the past 10 years, the share of SMEs in the GDP has been brought to one-third – 36.5%. The output of SMEs was estimated at 105 billion US dollars last year. This year, the figure is expected to increase. SMEs provide with employment 45% of the working population, with the number of jobs in the SME sector exceeding 4 million, said Timur Zhaksylykov, first vice minister of national economy of Kazakhstan, during the B5+1 forum in Almaty.

He went on to add that the work of the government aims at mitigating the administrative burden on business, supporting introduction of innovative technologies, service support of domestic producers, and creating a comfortable investment climate in the country in general.

To note, Almaty hosts the first edition of the US-Central Asian B5+1 format forum with the participation of business and government officials.

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