Politics • 28 May, 2019

Government approved new mechanisms for developing “economy of simple things” and promoting non-primary exports

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At the meeting, Government considered the development of the economy of simple things and promotion of non-commodity exports as part of Elbasy’s Address “Growing Welfare of Kazakh Citizens: Increasing Income and Quality of Life” and the Head of State Kassym-Jomart Tokayev's instructions given at the meeting of Council of National Investors on May 24. It is reported by the press service of PM.

Project Office with the participation of representatives of government agencies, regions and development institutions operates for providing state support measures for improvement of priority areas of the economy.

Deputy Prime Minister Zhenis Kassymbek reported that about 300 meetings were held at the Project Office on a weekly basis, over 1,000 potential entrepreneurs were heard. As a result, a package of amendments was developed for the current Program for the Development of Consumer Goods Production. By 2025, it is planned to reduce the share of imports for the goods of the “economy of simple things” from 59% to 37%, to create about 16 thousand jobs, to increase tax revenues by 1.1 trillion tenge.

Following the consideration of the issue, Askar Mamin noted positive rates of concessional lending. Today, there are about 900 projects for more than 700 billion tenge.

Mamin supported the voiced approaches to the further development of the production of consumer goods. Among them, interest rate reduction for the final borrower with fixation of the state-subsidized part, introduction of a grace period for a period not exceeding 1/3 of the loan term and expansion of the list of goods for lending.

In order to support domestic producers of goods and services, Mamin ordered to take measures to increase the share of goods and services related to the “economy of simple things” in public procurement and purchases of the quasi-state sector. Akimats of regions should intensify work on the control of local content.

In the next three years, 500 billion tenge will be allocated to support the export potential of Kazakhstani products. As part of promoting non-commodity exports, government agencies should continue to work on the timely and full development of the allocated budgetary funds, and make proposals for improving the mechanism for promoting non-commodity exports, including taking into account issues raised by business at the Council of National Investors, May 24, 2019.

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