The Kazakh President outlines the measures for the new economic policy during his meeting with business managers

The Kazakh President outlines the measures for the new economic policy during his meeting with business managers


NUR-SULTAN – President Kassym-Jomart Tokayev acknowledged the role of entrepreneurship in economic growth during a meeting with business executives in Accorda on September 9.

Tokayev during a meeting with businessmen in Akorda on September 9. Image credit: Akorda

“In my address to the people, I referred to the basic objective of economic policy: the qualitative and inclusive growth of people’s well-being. This can be achieved through a free and efficient market economy. The leadership role of the government and its interference in business will become a thing of the past. The government will promote committed businesses,” Tokayev said. law in the domestic and international markets.

The government will continue to work on de-monopoly measures. The competitive field will be fair to all. Doing business in Kazakhstan should be “profitable and safe” regardless of personal contacts with state agencies.

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

Tokayev urged business leaders to take an active role in addressing social challenges. Image credit: Akorda

Tokayev also spoke about reforms in tax policy and tax administration as the new tax law will enter into force in 2024. This will prevent companies from taking on excessive administrative burdens. Public procurement and PPP approaches will be reviewed. Legislation regarding the use of the subsoil will also be improved.

Management approaches to the agro-industry, construction, transport and logistics sectors will be reviewed.

All these actions, noted by the president, require joint efforts of the authorities, society and business. Fair competition, transparency, predictability of state policy, integrity taxation, and social responsibility are set to be the main elements of the New Economic Policy.

Tokayev urged business leaders to take an active role in addressing social challenges. “Investing in human capital is important. This includes building kindergartens, schools, hospitals and universities, developing tourism. We welcome charitable activities. We note the lack of schools, universities and sports facilities for young people. Your help is of great importance to the country.”

Constructive dialogue between government and business will continue to serve as a solid foundation for social stability advertiser by the President at the January meeting.





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