Business • 14 May, 2020

Kazakh Government to support over 130 business activities

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A set of measures aimed at organizing the production of goods to provide domestic demand are being implemented today. The Minister of National Economy Ruslan Dalenov said this at a briefing in the government, primeminister.kz says.

According to the minister, the Economy of Simple Things program is being implemented in the country.

“This year, funding has been increased, 400 billion tenge are additionally allocated, funds will be allocated for production and processing in the agricultural sector, in the manufacturing industry, services, over 133 production-related activities will be supported, more than 300 consumer goods —from food to medicines and equipment,” Dalenov informed.

At the same time, loans are granted for a period of 10 years, there are no restrictions on the amount, the interest rate is 6%, which are subsidized by the state.

“If there are questions about pledges, if there is not enough pledge, then it is envisaged to receive state guarantees,” the minister emphasized.

In general, the total amount of additional financing for small medium-sized businesses is 1 trillion tenge in 2020.

“Of these, 600 billion tenge through the National Bank is a program of preferential financing replenishment of working capital, the rate is 8% here, as well as 400 billion tenge under the Economy of Simple Things, here the rate is 6%, because it is subsidized by the state,” he said.

Additionally, financing was also doubled for subsidies under the Business Roadmap 2025, which will double the portfolio of preferential financing.

Also, on behalf of the Head of State, a new direction is being developed — providing preferential financing to a large number of entrepreneurs — this is small and micro business.

“In addition, infrastructure projects are being implemented within the framework of Nurly Zher, Nurly Zhol, the Regional Development Program, the Employment Roadmap, measures of treasury maintenance in government procurement have been taken — all this will directly and indirectly support small and medium-sized businesses,” added Dalenov.

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