Prime Minister Alikhan Smailov spoke about the main directions of development of the sphere of entrepreneurship at the meeting in the Government chaired by the Head of State.

Alikhan Smailov noted that a new regulatory policy in relation to business is currently being implemented in the republic. In particular, since Jan., the Registry of mandatory requirements has been published in the public domain.

"Checks on requirements that are not in the Register are now not carried out. Besides, this year 10 thousand unnecessary requirements to business will be excluded from the legislation that will considerably reduce the number of checks. Also automation of risk management systems will be fully completed by the end of this year," Prime Minister said.

He stressed that this year system support measures for small and medium business had been expanded. Thus, in order to develop the manufacturing industry the list of activities supported (concessional lending and financial leasing) has been increased by 116 positions. For a number of priority areas, the term of subsidizing the interest rate increased from 5 to 7 years.

At the same time the volume of financing of the Business Road Map was increased to 224 billion tenge. This year it is planned to subsidize over 20 thousand projects and provide state guarantee for more than 18 thousand projects within SME support. Additional measures will be taken to support medium-sized businesses.

In addition, it was noted that within the framework of a comprehensive plan of privatization 368 facilities have already been transferred to the competitive environment, and 62 more are in the process of elimination or reorganization. This year 106 more objects will be put up for sale. In this case KEGOC will hold SPO (secondary placement of shares).

In conclusion, the head of the Government added that the implementation of digitalization in business would continue. Along with this there is an active development of the Budget and Tax Codes.

#Alikhan Smailov #The Prime Minister of the Republic of Kazakhstan #SME