The share of state participation in the
economy has decreased by 14 percent this year. This was achieved through
privatization, including through the public offering of shares of two national
companies. In total, about 1,000 organizations with state participation have
been privatized in the country since 2019, as announced by the country’s Prime
Minister Alikhan Smailov. Addressing the expanded meeting of the Amanat party faction, Smailov reported on the
implementation of the Kazakh President’s state of the nation address for
2019-2022. Thus, under the new law on industrial policy signed by the Head of
State in December 2021, the country has managed to achieve sustainable
development of the manufacturing industry. The sector, with an average growth
of 4.5 percent, currently provides one-fifth of total state budget revenues. Besides,
a mechanism has been introduced to provide raw materials to manufacturing
enterprises. Overall, 586 manufacturing projects worth more than 4.6 trillion
tenge were put into operation over three years. Smailov also spoke about
systemic measures to improve the business environment. He noted that a
moratorium on inspections of small and micro businesses in Kazakhstan came into
force in 2020 and was extended until 2024.
“It is worth
noting that the share of SMEs in the Kazakh economy rose from 31.7 to 36.5
percent, while the number of operating SMEs grew by 27 percent to over 1.8
million. The total number of people employed in the sector also increased by 18
percent to 4.1 million. In general, interaction between the business community
and the authorities has been beneficial to Kazakhstan,” Smailov noted.
