SME share in gross regional product of Kazakhstan's Zhambyl to exceed 20%(Exclusive)

Business Materials 24 September 2019 11:46 (UTC +04:00)

Baku, Azerbaijan, September 24

By Nargiz Sadikhova - Trend:

Among the goals of the akimat (administrative center) of Kazakhstan’s Zhambyl region is the increase of the share of the operating small and medium entities (SME) to 80 percent by the end of 2019, as well as to increase the share of SME in gross regional product to 20.1 percent and the value of SME manufacturing to 450 billion tenge, the representative of the akimat told Trend.

With this objective, according to the representative, state and regional programs for development and support of SME in the region are being implemented, which are based on close cooperation of the state and business. Furthermore, the socio-entrepreneurship corporation Taraz has been created.

“Three microfinance organizations (MFO) are operating in the region. They are Atameken Taraz MFO, Taraz MFO and Shu MFO, the work of which is aimed at implementation of business development programs in area of microloans provision to SMEs,” the official said.

The source in the akimat further stated, that the Taraz Invest, which implements the informational and operational support of investment projects, is operating in the region.

“Since the beginning of 2017 (the year of establishing), Taraz Invest has held over 350 meetings with local and foreign investors and over 45 projects have been approved,” the official added.

Furthermore, as stated by the representative of the akimat, the regulations for the work with investors have been approved in the region and they are presenting clear rules for cooperation with the investors.

“The regulations allow to decrease the time of the initial inquiry by 90 working days (from 125 to 35 days), as well as the time for handling following inquiries on the problem issues by 41 working day (from 80 to 39 days),” the representative concluded.


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