The Minister of National Economy Timur Suleimenov visited the Pavlodar region, where he explained the Presidential Address “Third Modernization of Kazakhstan: Global Competitiveness”. The Minister took part in the reporting meeting of the regional Akim with the population, visited the construction site of an apartment building built within the “Nurly Zhol” state program, as well as met with the staff of JSC “Pavlodar Oil Chemistry Refinery”.

The Minister spoke about three directions designed to ensure economic growth and sustained introduction of Kazakhstan into the 30 leading countries of the world.

“Work will be made on the technological rearmament of basic industries before 2025, resulting in increased productivity. Work will continue on increasing export volumes of domestic products, competitive on the world markets, with the expansion of sales geography,” – T. Suleimenov said.

“One of our strategic aims is ensuring SME’s contribution to the GDP no less than 50% by 2050,” – T. Suleimenov said, assuring that the Government will continue reforms on the formation of the best business environment, especially at the regional level, where our businesses are working and developing.

The Minister informed that “in 2017 for the purposes of micro-crediting entrepreneurial initiatives 10 billion tenge is provided for covering 2.5 thousand people in cities and 27 billion for covering 3 thousand people in towns and countryside”.

T. Suleimenov also spoke about the “Bastau Business” project, which will involve the unemployed regardless of registration in employment centers, and the self-employed, who have entrepreneurial potential and live in the countryside and regional centers with state support for tuition fees and stipends. “Annual coverage of enrolled students will be no less than 30 thousand people, first year – 15 thousand people,”  - the Minister reported.

He also informed that in order to reduce the burden on business, there will be developed systematic measures on business deregulation on the basis of standards and practices of developed countries, as well as a revision will be made of all legislation to identify regulations hindering competition.

“As a result, the state participation in the economy by 2020 will reduce to 15%, equaling to members of the OECD,” – the Minister said.

He noted that macroeconomic stability is the priority direction. “The monetary policy of the National Bank will aim at gradual decrease of inflation levels to 3-4% in the medium term. During 2017-2017 there will be further intensification of the domestic stock market in terms of expanding opportunities for the population to invest their savings, including various types of securities,” – T. Suleimenov said

Press Service of the Ministry of National Economy

Published: 17 February 2017

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