ID :
85670
Thu, 10/22/2009 - 14:18
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Shortlink :
https://oananews.org//node/85670
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Kazakhstan’s economic development
Astana, October 21, 2009 (Khabar) - At a meeting of the Nur Otan Party, the prime minister of Kazakhstan Karim Massimov told the deputies about the support for shareholders, processing industry, development of the non-primary sector of the economy, export and the development of the business environment. The government decided to use money from the distressed assets fund for the support of the economy. The distressed assets fund was founded in 2008, when the world was faced with a global financial crisis. In order to overcome the aftermath of the crisis and bring the economy to a completely new level, Kazakhstan’s government undertook unprecedented measures.
Bakhyt Sultanov, minister of Economics and Budget planning:
- For support of manufacturing sector 42 billion tenge will be allocated, 20 of them will go for credits of 20 enterprises. This money will be given through banks of the second level. In their turn banks will additionally give 8.5 billion of their own means.
For the businessmen occupied in this sphere credits under the rate of the annual of 8 % will be given out. This rate is 2 times less than market, and also is the lowest in the CIS. 2 billion tenge more will be directed on financing of leasing transactions. Businessmen can get the new equipment under the preferential rate of 8 %. The allocated 20 billion will be given to Kazakhstan Development Bank. Its task is to provide financing of long-term projects in a manufacturing industry for the sum of 50 billion under the rate of 8 %.
Arystan Yesentugelov, member of directors’ board, National Analytical Center:
- Government supports manufacturing industry and entrepreneurship, these sectors are very important for us. That is the direction which should remove source dependence in future. And it will be very well done if money will be allocated by the principle of perceptivity of enterprises of this sphere. If these sources will be available then it will be a profit and the diversification will be easier.
It was announced that over 2.5 thousand shareholders will receive the support of the government, since the distressed assets fund allocated 30 billion tenge for the finishing of constructions in Almaty and Astana. One of the most important missions of the government today is breaking away from commodity dependencies and provide for the diversification of the economy. During the 12th congress of the Nur Otan Party, the head of state defined some tasks. Currently, Kazakhstan is working under the development of the five-year program of boosting the industrial and innovative progress of Kazakhstan.
The Prime minister noted that in order to provide competitiveness of the economy, it is necessary to create a favorable business and investment climate. The development of a number of measures is currently underway. In particular, for SME’s, it is planned to remove the requirements for a minimum charter capital. Additionally, in order to protect investors, it is planned to develop a law on joint stock companies, in particular, regarding support for minority shareholders and transparency of the activities of these companies.
Bakhyt Sultanov, minister of Economics and Budget planning:
- For support of manufacturing sector 42 billion tenge will be allocated, 20 of them will go for credits of 20 enterprises. This money will be given through banks of the second level. In their turn banks will additionally give 8.5 billion of their own means.
For the businessmen occupied in this sphere credits under the rate of the annual of 8 % will be given out. This rate is 2 times less than market, and also is the lowest in the CIS. 2 billion tenge more will be directed on financing of leasing transactions. Businessmen can get the new equipment under the preferential rate of 8 %. The allocated 20 billion will be given to Kazakhstan Development Bank. Its task is to provide financing of long-term projects in a manufacturing industry for the sum of 50 billion under the rate of 8 %.
Arystan Yesentugelov, member of directors’ board, National Analytical Center:
- Government supports manufacturing industry and entrepreneurship, these sectors are very important for us. That is the direction which should remove source dependence in future. And it will be very well done if money will be allocated by the principle of perceptivity of enterprises of this sphere. If these sources will be available then it will be a profit and the diversification will be easier.
It was announced that over 2.5 thousand shareholders will receive the support of the government, since the distressed assets fund allocated 30 billion tenge for the finishing of constructions in Almaty and Astana. One of the most important missions of the government today is breaking away from commodity dependencies and provide for the diversification of the economy. During the 12th congress of the Nur Otan Party, the head of state defined some tasks. Currently, Kazakhstan is working under the development of the five-year program of boosting the industrial and innovative progress of Kazakhstan.
The Prime minister noted that in order to provide competitiveness of the economy, it is necessary to create a favorable business and investment climate. The development of a number of measures is currently underway. In particular, for SME’s, it is planned to remove the requirements for a minimum charter capital. Additionally, in order to protect investors, it is planned to develop a law on joint stock companies, in particular, regarding support for minority shareholders and transparency of the activities of these companies.
