Kazakhstan plans to increase SMEs share in GDP up to 40%
19 April 2022 10:30

Kazakhstan plans to increase SMEs share in GDP up to 40%

NUR-SULTAN. KAZINFORM Kazakhstan defines a new small and medium-sized business development strategy until 2030, Kazinform reports.

«At the 8th congress of the National Chamber of Entrepreneurs of Kazakhstan set a task to determine a small and medium-sized enterprises' development strategy until 2030. A draft small and medium-sized enterprises' development concept was elaborated pursuant to this task. The goal is to boost and encourage the course of businesses' economic activities and create competitive SMEs,» 1st Vice Minister of National Economy of Kazakhstan Timur Zhakssylykov told the Government meeting.

As stated there, the document includes SMEs development approaches aimed at priority support of SMEs having the potential for growth.

The Minister resumed that implementation of the concept provisions will let increase the share of SMEs in GDP up to 40% by 2030, the share of medium entrepreneurship in GDP up to 20%, the number of SME population up to 5 mln. Adoption of the concept is expected to contribute to the transformation of small businesses into medium and medium-sized into large which in turn will bring a positive multiplicative effect on the wider economy.


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