The Government of Kazakhstan revised business support measures to fulfil the instructions of President Kassym-Zhomart Tokayev, the Cabinet of Ministers reported on social media. The new Programme that comprises «Business Roadmap» and «Economy of Simple Things» focuses on supporting projects that have proven to be effective. Particular attention is paid to manufacturing enterprises, which about 50% of subsidies are dedicated to.
The subsidy period for service industry projects was reduced from 5 to 3 years to ease the burden on the budget. A differentiated subsidy method with a gradual transition to a market economy has been introduced. The credit guarantee and bond issue instruments have been expanded. In accordance with the Programme, syndicated loan financing for large projects by different banks up to 15 billion tenge has been introduced.
About 14,000 business projects worth over 744.9 billion tenge have been supported for 6 months since the Programme was launched.
In the future, it is planned to introduce differentiated support mechanisms focused on technologically complex production. These measures are aimed at promoting sustainable economic growth and boosting the competitiveness of the Republic.
