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Kazakh President declares moratorium on establishing new state companies in economy

The session has been attended by the NIC, the President Administration and public bodies, members of the presidium of the Atameken NCE, representatives of national companies and Kazakh businesses. 

The Head of State outlined that the private initiative and free entrepreneurship had turned into the key factors of economic development and wellbeing growth, shaping the session’s theme “Entrepreneurship development as the basis of the country’s economic modernization.”

“Last year was successful for our businesses. The number of active SMEs grew by 11% and reached 1.3 million. Their output rose by 14% and equaled 26.5 trillion tenge. The share of SMEs in the economy increased from 25.6% to 28.3% within last year. It is a decent figure. Output of over 500 products that had not been produced in Kazakhstan was launched. The export geography expands and domestic products are imported to 120 world markets. Nevertheless, a number of problems remain regarding the business climate, markets, accessible financing”, Kassym-Jomart Tokayev said.

The Kazakh President singled out tasks to ensure the favorable business environment, efficient support for business and protection of competition. He dwelt on placing attention to increasing financial sustainability of Kazakh companies and improving business skills and competences of local entrepreneurs.

At the end of his speech, the head of state underlined that the NIC should be the continuous platform for systematic dialogue of the senior management of the country with domestic businesses, and tasked the Government to roll out the draft decree to adopt a new structure for the NIC’s work.

The session heard reports from board chairman of the Atameken NCE Ablai Myrzakhmetov, board chairman of Alageum Electric Yerkebulan Ilyasov, executive director of “Textiline” LLP Inna Apenko, director of “Gormolzavod” LLP Assen Zhaksylykov, director of “Method” LLP Dagar Davletov.

Photo by the press service of Akorda

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