The President of Kazakhstan announced the measures of the new economic policy while meeting with business executives

Nur-Sultan – President Kassim-Jomart Tokayev recognized the role of entrepreneurship in economic development at a meeting with business executives in Acorda on September 9.

Tokayev at a meeting with business executives in Acorda on September 9. Photo credit: Acorda

“In my speech to the public, I noted the fundamental goal of economic policy: human well-being through quality and inclusive growth. This can only be achieved through a free and efficient market economy. The leadership role of the government and its interference in business will be a thing of the past. The government will promote law-abiding businesses in both the domestic and international markets, Tokayev said.

The government will continue to work on demonopolization measures. The playing field will be fair for all. Doing business in Kazakhstan should be “profitable and safe” regardless of personal relations with the state apparatus.

“We will develop small and medium-sized businesses, bring a new generation of entrepreneurs, and encourage new ideas. The government will continue to support large businesses. We look forward to your participation in building a fair Kazakhstan,” said the president.

Tokayev urged business leaders to actively participate in solving social problems. Photo credit: Acorda

Tokayev spoke about the reform of tax policy and management. The new tax code will be implemented in 2024. This prevents excessive administrative burdens on businesses. Public procurement and public-private partnership approaches will be improved. The Subsoil Use Act will also be amended.

Approaches to managing the agro-industry, construction, transport and logistics sectors are reviewed.

According to the president, all these measures require the joint efforts of the authorities, society and business. State policy Fair competition, transparency and predictability, tax integrity and social responsibility are set to be the main elements of the new economic policy.

Tokayev urged business leaders to actively participate in solving social problems. “Investments in human capital are important. This includes the construction of kindergartens, schools, hospitals, universities and tourism development. We accept charity work. We notice a lack of schools, campuses and sports facilities for the youth. Your help is of great importance to the country.

The constructive dialogue between the government and business serves as a strong foundation for social stability he said. January meeting by the president.