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overview
The newly built Esentay complex in Almaty, which includes the highest tower in the city
Kazakhstan’s economic and investment policy The Government of Kazakhstan continues to pursue its economic priorities under its 2030 Strategy and 2020 Strategic Development Plan. The outcome of the presidential elections last April provided a powerful impetus to deepen the ongoing reforms, enhance the Government’s institutional support for entrepreneurship and increase its efficiency
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n recent years, much has been done to create a favorable business climate in Kazakhstan. Today, the number of active small and medium-sized businesses exceeds 675,000, accounting for one-third of the GDP and providing jobs for more than 25 percent of Kazakh citizens. Even during the time of the worldwide financial crisis, the Government did not ignore domestic entrepreneurs, developing various tools of business stimulus, while the legal framework for business support is being improved all the time. Roadmap 2020, a large-scale initiative to spur entrepreneurship in modern Kazakhstan, has been
implemented since 2010. In 2011, under the program, a credit portfolio of domestic entrepreneurs will to be subsidized to the tune of $2.5 billion. With the operation of the Customs Union, extensive opportunities have opened for entrepreneurship. In 2010, bilateral trade with Russia increased by 27.2 percent, while trade with Belarus rose by 55.8 percent. Further increases are expected once internal borders are eliminated within the Union and progress is made in setting up a Single Economic Space. Kazakhstan aspires to become a trade, logistical and business hub for Central Asia. All these efforts come under one strategic task set forward by the President. His goal: to raise Kazakhstan’s GDP per capita to $15,000 and make it a high-income country. Such a task foresees seven percent economic growth over the mid-term, mostly through processing industries. This means that investments to fixed capital during the next five years will have to rise by at least 50 percent. The Government of Kazakhstan pursues a favorable investment climate, maximum openness and stability. Major joint projects have been launched with leading foreign
Invest in KAZAKHSTAN 2011
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