286 Kazakh enterprises implemented within a pool of investment projects will substitute imports worth 9.9 trillion tenge (over US$23 billion). This was announced by Kazakh Prime Minister Alikhan Smailov at the Ulttyq Ónim exhibition. 165 projects are expected to be implemented this year, he added. A belt of companies of small and medium-sized businesses will be formed around each such project. Their share in the country’s GDP grew from 27 to 35 percent in the past five years, whereas the production volume doubled and reached 30 trillion tenge (US$69.9 billion).
“The moratorium on inspections of small and micro businesses declared by the Head of State had a positive impact on the ease of doing business. At the same time, one of the most promising areas for entrepreneurs is import substitution, given that the share of imports in the manufacturing industry amounted to US$38 billion last year. This is a great opportunity for Kazakh manufacturers to develop their business and invest in the production of new goods,” the PM said.
This year’s Ulttyq Ónim brought together over 350 companies. These are representatives of Kazakh micro, small and medium-sized businesses, who received support from the state. Each of them is given the opportunity not only to present their products, but also to find potential business partners at the exhibition, the organizers said. The event will also include business negotiations and various master classes, as well as a forum of franchising companies.
Translation by Saniya Sakenova
Editing by Galiya Khassenkhanova
