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Ministry: entrepreneurship dev't support in Kazakhstan brings its results (Exclusive)

Business Materials 9 November 2019 14:25 (UTC +04:00)
Ministry: entrepreneurship dev't support in Kazakhstan brings its results (Exclusive)

BAKU, Azerbaijan, Nov.9

By Nargiz Sadikhova – Trend:

Kazakhstan is always giving especial attention to development of small and medium entrepreneurship (SME) and as a result of the implemented work, the number of operating SMEs is increasing, as well as the volume of SME manufacturing, Kazakhstan’s Ministry of National Economy told Trend.

According to the representative of the ministry, the share of SME in country’s economy was 28.3 percent as of the end of 2018.

“Kazakhstan’s government is set to increase this indicator to 50 percent by 2050,” the official said.

Furthermore, as noted in the ministry, as of August 1, 2019, some 1.6 million SME companies are registered in Kazakhstan and 1.3 million of them are operating, which is an increase of 9.1 percent compared to the same period of last year.

“Three million people out of the country’s population are employed in SME as of April 1, 2019, volume of goods manufacturing by SME increased by 24.4 percent and equaledsix trillion tenge [$15.4 billion] from January through March 2019,” the ministry noted.

Thus, according to the representative, for the implementation of the Kazakhstan’s government’s goal, systemic reforms for modernization of legislation, provision of real support for entrepreneurship entities, improvement of business conditions are being constantly implemented

In this regard, a number of reforms in area of business regulation were implemented.

“The government has introduced systemic measures for business deregulation, aimed at state oversight functions optimization, further permit system improvement, information tools settlement. The law ‘On Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan on Improving Regulation of Entrepreneurial Activity’ was introduced on May 28, 2018, whereas the law ‘On introducing amendments and addenda to some legislative acts of the Republic of Kazakhstan on the development of the business environment and regulation of trading activities’ was introduced on April 2, 2019. The latter law oversees decrease of the number of procedures, timeframes and financial expenditures, which is to significantly decrease the burden on entrepreneurs, the official said.

As a part of future work in this direction, the government is currently developing new legislative package, the official said.

“Within the framework of new, eighth legislative package, in order to exclude several procedures and create a more consumer-friendly process for connection to electrical networks, the introduction of a turnkey system for connection to electricity is proposed. At the same time, single system of filling an application for connecting to electricity will be introduced,” the official concluded.

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