Kazakh Government takes steps to revive business sector

NUR-SULTAN. KAZINFORM - The Kazakh Government has adopted steps to improve the country's business climate, Kazinform correspondent reports.

In 2019, Kazakhstan was among top 25 countries according to the World Bank's Doing Business Index. The country's SMEs contributed to 30.8% of the GDP. Kazakhstan aims to raise the share of SME in GDP to 35% and to 50% by 2025 and 2050, respectively.

As the Head of the Cabinet, Askar Mamin, said the action plan consisting of 43 additional steps towards supporting business has been elaborated following discussions with entrepreneurs of all regions, as well as the reviews of the State Commission to restore economic growth.

The action plan encompasses simplifying the procurement process and increasing Kazakhstani content, broadening funding opportunities to acquire agricultural machinery in leasing and refund credits, and increasing exports.

The Prime Minister insisted that the said steps would improve entrepreneurship as well as contribute to the business climate.

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