Kazakhstan to launch over 200 projects for import substitution
Baku, Azerbaijan, September 30
By Nargiz Sadikhova - Trend:
Some 209 projects worth nearly 140 billion tenge have been approved in Kazakhstan within the framework of implementation of ‘economy of simple things’ program, a representative of the Ministry of Economy of Kazakhstan told Trend.
The ‘economy of simple things’ program has been approved in line with implementation of the State of the Nation Address of the president of Kazakhstan from October 5, 2018. The program is aimed at the development of manufacturing of consumer goods and on their import substitution.
“The implementation of the program is overseen within the roadmaps for development of food and processing industries, manufacturing of construction materials, furniture and light industries for 2019-2021,” the representative noted.
According to the official, the program includes introduction of a mechanism for subsidizing a part of a remuneration rate on loans.
“The subsidizing is implemented on loans, the nominal remuneration rate of which does not exceed annual 15 percent; six percent of them are paid for via private entrepreneurship ventures and the difference is being subsidized by the government,” the official said.
In conclusion, the representative of the ministry added that the ‘economy of simple things’ program has been created for and will provide for increase of tax payments to the budget, manufacturing of goods by private entrepreneurship ventures,and for creation of new work places.
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