Kazakh Prime Minister Reaffirms Support for Midsize Businesses

ASTANA – Medium-sized businesses should become the engine of progress that drives Kazakhstan’s manufacturing growth with the launch of competitive products and a wide range of services, Prime Minister Alikhan Smailov said at a May 12 meeting with representatives of mid-sized enterprises, reported the Prime Minister’s press service.

Kazakh Prime Minister at a meeting with midsize business owners. Photo credit: primeminister.kz.

According to Smailov, medium-sized businesses are the most adaptable to continuously shifting market conditions. This attribute makes them a vital player in economic development, considering how the most developed countries encourage medium-sized enterprises to expand and enhance their positions in the global market.

“The examples are right in front of us. Companies like Samsung, Toyota, and Hyundai also started as small and medium-sized enterprises (SMEs), and today we know them as successful world brands. I assure you that the government will continue to take all necessary measures to create favorable conditions and offer comprehensive support for businesses,” he said.

The Prime Minister added that a new Tax Code would reduce burdens and simplify tax administration procedures. 

To enhance the protection of the rights of entrepreneurs, the government is introducing a regulation-from-scratch mechanism to drop 10,000 unwarranted requirements for businesses and automate processes in all areas of state control. 

While reducing the number of inspections, this measure will increase the efficiency of state control, Smailov said.

A new public-private partnership model has been developed per President Kassym-Jomart Tokayev to facilitate access to public resources and infrastructure.

“Akimats (mayors’ and governors’ administrations) have specific KPIs for attracting investments in fixed assets and creating new jobs. The corporate income taxes from SMEs have been transferred to local budgets, so the administrations have a stake in expanding the private sector,” he said.

Smailov reiterated that the government is always open to dialogue with businesses and is ready to support projects contributing to its development.

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