site.news_by_theme Small and middle-sized business
This year the initiative will be focused on three major areas, notably agribusiness, machinery building and production of construction materials, and is to be further extended to other industries.
During his official visit to Astana, the Premier of the State Council of China Li Keqiang suggested to help Kazakhstan with development of its infrastructure.
The loan is part of the second tranche of the $500 million program to support S&MBs approved by the ADB in 2012.
The share of small and medium-sized enterprises (SMEs) in Kazakhstan’s GPD has not exceeded the threshold of 20% over the past seven years.
A Taldykorgan bakery gives away bread for free to those who cannot pay for it.
According to him, there is a moratorium on inspecting small businesses and the officers have no job to do.
President Nursultan Nazarbayev has spoken about the strategic importance of small and medium-sized business in Kazakhstan at the Foreign Investors Council (FIC) meeting.
After the devaluation of tenge by 19% earlier this week, the National Fund of Kazakhstan decided to allocate $5.4 billion to support local business.
With the assets of the National Oil Fund used to finance S&MBs, the APR could stand at 6-7%.
Kazakhstan will adopt a law forbidding audits and inspections of small business by the end of 2012.
In his latest State of the Nation Address [January 27], President Nazarbayev suggested the National Oil Fund money be used in the form of loans to the national economy rather than kept with foreign banks.
In 2010 the national GDP figure exceeded $148 billion.
Tengrinews.kz reported earlier that in the H1 2011 the number of S&MBs; grew by 8%, exceeding 600 000.
According to the PM, 2.5 million are employed in the sector, over 1/3 of the economically active population.
Kazakhstan businessmen are suggesting to create a state authority that would regulate activities of small and middle-sized businesses.
The share of franchisees in developed countries stands at about 50% in the small and middle-sized business sector.
- developing countries
- Nursultan Nazarbayev
- Asian Development Bank
- Central Asia
- Foreign Investors Council
- National Bank
- National Fund