Small and medium business to receive subsidies to KZT 840 billion

ASTANA. June 30. KAZINFORM - Development of small and medium-sized businesses, which play the role of the future "engine of the economy" of Kazakhstan, is one of the main priorities of New Industrialization. To date, subsidies have been approved for 3,406 projects totaling KZT 839.621 billion,

including the first area (Support of business initiatives) - 2,952 projects worth KZT 500.87 billion loan portfolio, the second direction(Improving entrepreneurship sector) - 223 projects at KZT 175.517 billion, according to third area (Lowering currency risks of entrepreneurs) approved are 231 projects worth KZT 163.23 billion.

In this case have already been signed 2,803 contracts worth KZT 632.413 billion, and the amount of subsidies paid totaled KZT 35.063 billion. Credit guarantee approved for 219 projects for KZT 21,535 billion. Signed guarantee contracts are for 187 projects amounting to KZT 19.874 billion of loans. Guarantees ahve been given amounting to KZT 8.077 billion.

Most of the projects in terms of industries to subsidize are in the manufacturing industry - 41%, transport and warehousing - 26%.

In manufacturing, the structure of the supported projects is as follows: 36% food, 13% of other non-metallic products.

Established at the initiative of the head of state "Business Road Map-2020" Program has become one of the key mechanisms of the New Industrialization. This state program provides for the accelerated development of non-oil sectors of the economy, ensuring its diversification and increased competitiveness.

A distinctive feature of "Business Road Map-2020" Program is to increase entrepreneurial activity. Due to the State program to improve the business climate in Kazakhstan over the past three years there has been a steady increase in the number of private businesses.