ASTANA – Kazakhstan is set to strengthen its support for domestic businesses and attract more investment through tax and budget reforms, according to Vice Minister of National Economy Bauyrzhan Kudaibergenov. Speaking at the March 1 meeting of the Coordination Council on cooperation between Kazakhstan’s ministry and the European Bank for Reconstruction and Development (EBRD), Kudaibergenov highlighted the government’s commitment to fostering entrepreneurship and improving the business environment.
The meeting discussed ongoing large-scale programs designed to support Kazakhstani businesses, offer consulting services, and create jobs. Since 2013, these initiatives have had a tangible impact. The Business Consulting Services program, for instance, has funded over 1,800 consulting projects and organized more than 300 training events, resulting in a 73% increase in company income, amounting to 673 million euros (approximately $719.4 million). Additionally, nearly 7,000 new jobs were created, over half of which were taken by women.
One notable initiative, the Women in Business program, launched in 2015, has trained 846 female entrepreneurs. As a result, 19.7% of the companies that participated have expanded from micro to small or medium-sized businesses (SMEs), contributing to a more diverse and dynamic business landscape.
Simone Zeh Atanasovski, EBRD Regional Associate Director, discussed the bank’s plans for supporting SMEs in 2025, focusing on medium-sized businesses, advisory services, and digital transformation. The EBRD’s 2024 results indicated substantial success, with 2,380 projects implemented under advisory programs. Seventy-eight percent of these were deemed successful, leading to significant improvements, including a 42% rise in turnover, the creation of 9,500 jobs, a 22% increase in labor productivity, and a 55% boost in exports.
Looking ahead to 2025, the focus will shift towards enhancing the entrepreneurial skills of micro-businesses and further bolstering the investment potential of medium-sized enterprises, ensuring sustainable growth and continued economic development.
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