Business • 03 March, 2020

Kazakhstan intends to get entrepreneurs out of shadow economy

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Minister of Trade and Integration Bakhyt Sultanov said that Kazakhstan intends to take entrepreneurs out of the shadows. 

"Providing an optimized digital trading process will allow withdrawing unscrupulous entrepreneurs from the shadows. Questions of digitalization of business in stationary objects of trade and services will be worked out," Bakhyt Sultanov said at the government session.

At the same time, the minister added that the solution of issues of stabilizing commodity prices, the possibility of qualitative forecasting of future prices and their insurance will continue within the framework of measures to develop exchange trade.

"According to our estimates, the additional volume of tax revenue due to withdrawal from the shadows will amount to about KZT1.5 trillion. We also plan to create a multi-format trade and distribution infrastructure. For this purpose, a network of wholesale distribution and agro-logistical centres will be created, which will allow manufacturers to organise storage, packaging, and delivery of their products to domestic and foreign markets," Bakhyt Sultanov explained.

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