BAKU, Azerbaijan, June 16. Kazakhstan is working on expanding the export of grain processing products to China and inclusion of new companies in the register of suppliers, Kazakhstan's Minister of Agriculture Yerbol Karashukeyev said at the Senate meeting, Trend reports.
Furthermore, according to the minister, the government has implemented various measures to support and stimulate business growth, particularly in the establishment of new production facilities.
These measures include investment subsidies of up to 25 percent of construction and modernization costs for enterprises involved in deep grain processing, subsidizing interest rates on loans, providing preferential loans for working capital within the framework of the "economy of simple things," tax incentives in the form of a 70 percent reduction in VAT, and reimbursement of transportation expenses for exports up to 30 percent.
"The current year has seen the implementation of 11 investment projects with a total capacity of 58,000 tons of cereals and pasta products, as well as 21,000 tons of starch-based products," the minister added.
These government initiatives aim to create a favorable business environment, attract investment, and drive the expansion of Kazakhstan's agricultural industry.