CSI
We need to reach 50% share of SMEs in economy
as soon as possible
August 23, 2018
On August 23, Astana hosted a regular meeting with business representatives on the "Competitive business is a competitive economy" topic. The meeting was organized by CSI in cooperation with the Ministry of National Economy, the Economic Research Institute, the National Chamber of Entrepreneurs "Atameken" and the Astana city administration.

During the meeting, Bakhytzhan Sarkeyev Project Director at CSI presented information on the competitiveness indicators of kazakhstani business, small and medium enterprises conditions in Astana and the opportunities for further business development in the city. In particular, Mr. Sarkeyev stressed the necessity of expanding the share of SMEs in the economy, involving SMEs in new industries development and unpacking the economic potential of the city.

"The economic stability will be achieved when the share of small and medium-size enterprises in the economy reaches 50%. According to official statistics, currently the share of small and medium-size enterprises in the country is 27%. We need to increase this figure. If we want to create economic stability all over the country, then the share of small and medium-size enterprises in the economy should be at least 50%".

Increasing the share of SMEs and manufacturing industry in the economy, as well as increasing the potential of business itself, will lead to economic stability and decrease the impact of external shocks, such as fluctuations in dollar exchange rate.

The Ministry of National Economy, the Ministry of Investment and Development, and the National Bank representatives informed the audience about the measures being taken and planned by the Government for improving the conditions for doing business, infrastructure, attracting innovations, and ensuring the availability of financing.

During the meeting, business representatives raised the issues of taxation of domestic producers, technical certification, allocation of innovation grants and financing under the Damu Fund programs. Systemic issues demanding solution were also raised. As a result of the meetings held, it is planned to find potential solutions to the raised issues for the subsequent inclusion of these decisions onto the agenda of the Competitiveness Council under the Government.

The meeting in Astana has been a final one in a series of meetings with businesses. Similar further meetings are to be held in other regions of Kazakhstan.

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