Kazakh Regional Development Ministry urges focus on SME support

Business Materials 20 August 2013 13:53 (UTC +04:00)

Azerbaijan, Baku, Aug. 20 / Trend E. Kosolapova/

A fourth package of amendments to the 'Business Road Map 2020' will be submitted to Kazakh Government in October 2013, First Deputy Minister of Regional Development Kairat Uskenbayev said at a government meeting on Tuesday, the Kazakh Prime Minister's press service reported.

The amendments envisage more support for projects of small and medium-sized businesses (SME).

"Over the last two years the programme has been amended three times. The main focus of the third and planning of the fourth packages of amendments is a shift towards support for SMEs and small projects, "Uskenbayev noted.

He said the new changes would create conditions to provide support for more business people and entrepreneurial potential.

According to Uskenbayev, the amendments will specify the conditions for participation in major projects worth over 750 million tenge (152.54 tenge =$1).

They will have to meet additional requirements including new job creation and ensuring of the growth of assignments to budget.

Meanwhile the procedure for considering projects worth less than 60 million tenge will be simplified. New entrepreneurs owing a smaller equity will be allowed to apply for grants for new business ideas.

It is also planned to specify the mechanisms of infrastructure support to entrepreneurs and optimise procedures for examining projects in regional coordinating councils.

In addition, the new package of amendments will include basic approaches and measures for industrial zone development.