SME contribution to Almaty’s economy expected to rise up to 60%

SME contribution to Almaty’s economy expected to rise up to 60%

In 2023, Almaty’s economy surged by 13 percent, driven primarily by the manufacturing industry. The metropolis is actively constructing 18 small industrial parks to foster and further support the industry, with an investment exceeding 10 billion tenge. Small and medium-sized enterprises also play a significant role, contributing up to 60 percent to the city’s economy. Therefore, supporting these enterprises is one of the main priorities for the city mayor’s office. In 2023, a budget allocation of over 51 billion was directed towards subsidizing, guaranteeing, and providing loans, facilitating support for over 1,700 projects. A major emphasis in diversifying Almaty’s economy is placed on the tourism industry as well.¤

“In the first nine months of 2023, the number of tourists increased by 17.4 percent, surpassing 1.5 million people. Notably, the number of foreign tourists saw a 1.5-fold increase. It is expected that the total number of tourists will reach two million by year-end. In accordance with the instructions of the Head of State, key strategies have been outlined to develop the mountain cluster from Turgen to Kaskelen, unlocking the tourism potential within the Almaty agglomeration. The master plan will be presented next week, aiming to connect six locations and tourist destinations, including the Kaskelen and Turgen gorges, Big Almaty Lake, Medeu-Shymbulak, Talgar-Issyk, and Ak-Bulak,” said Almaty Mayor Yerbolat Dossayev.