Nearly $80M to be allocated for entrepreneurship development in major Kazakh city
Baku, Azerbaijan, August 30
By Nargiz Sadikhova - Trend:
Total value of funding support of small and medium business in Kazakhstan’s Almaty city will amount to 4.5 billion tenge in 2019 and up to 30 billion tenge ($77.486 million) staring from 2020, Head of the city Bakytzhan Sagintayev said, Trend reports with reference to the press office of the city’s akimat (administrative center).
According to Sagintayev, one of the strategic targets of akimat is the support and development of entrepreneurship. Currently, the share of trade and services in the structure of economy of Almaty is over 85 percent. Some 185,000 small and medium business entities provide the city with 40 percent of gross regional product, 64 percent of tax and over 600,000 new work places.
He further noted that taking into account that the small business is the main driver for creation of new work places, the akimat has developed a unified regional program for development of entrepreneurship named ‘Almaty Business 2025’.
Currently, the center for entrepreneurship Qoldaý is successfully operating in the city providing businessmen with 525 state services on the ‘one-stop’ principle.
“In order to expand the access of business to financial resources, we have created an Almaty Finance company and microfinance organization Almaty, the total capitalization of which is three billion tenge in 2019. All of this money will be received by Almaty’s businessmen,” Sagintayev said.
As the same time, the differentiated approach to projects funding will be used. Second tier banks together with DAMU fund have additionally allocated two billion tenge for funding of small and medium business projects, and allocation of another 10 billion tenge is also planned for next year.
(1 USD = 387.46 KZT on Aug 30)
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