The Kazakh government is faced with the task of increasing the share of small and medium-sized businesses (SMEs) in the country’s economy up to 40 percent by 2025. To this end, it is necessary to foster initiatives of citizens to set up and develop their own businesses. Thus, local authorities should create favorable conditions for entrepreneurs, providing all infrastructure, including roads, electricity, water and heat supply networks in due time. Business expansion will further increase the number of jobs. The task is to create 100 additional employment opportunities for every 10,000 people. Last year, the share of SMEs in the country’s economy reached 36 percent, the number of operating enterprises increased by 1.8 million and the number of those employed in small businesses exceeded four million people. In 2022, most of Kazakh entrepreneurs were registered in Almaty, Astana and Shymkent cities, as well as the Turkistan and Kyzylorda regions. 24,500 projects worth nearly one trillion tenge received support through the state’s business financial instruments. In addition, more than 800 grants worth over three billion tenge were provided to small and micro businesses to implement new business ideas. Besides, the Kazakh Ministry of Labor and Social Protection of the Population allocated over 41 billion tenge to provide non-repayable grants and microcredits to young people at 2.5 percent per annum.
Editor: Admin
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