More than 100 ‘Economy of Simple Things’ Projects Approved in Kazakhstan

More than 100 ‘Economy of Simple Things’ Projects Approved in Kazakhstan

More than 100 projects under the ‘Economy of Simple Things’ program has been approved. A total of 44 billion tenge were allocated by private investors while a total of 600 billion tenge were allocated from the state budget.

Preferential loans will be offered to stimulate the manufacturing industry as well as the sphere of productive services, agro-industrial complex and the food industry.

Experts said that there is no specific amount limit. The only condition is that if in the manufacturing industry the cost of the project exceeds 10 billion or in the agro-industrial complex over 500 million tenge, then a positive industry opinion of the relevant Ministry is needed.

The program can be participated by both small-and-medium enterprises as well as national businesses.

Meanwhile, local products are gaining high demand in Kazakhstan. A shoe factory in Almaty is undergoing capacity expansion to meet the needs of the local market.

 “We want to grow the production volumes to 5,000 pairs per month. This will allow us to increase sales, but also to supply products not only in Kazakhstan, but also to enter foreign markets, including Russia, Kyrgyzstan, and Uzbekistan,” said entrepreneur, Dauren Ramankul.

Meanwhile, in West Kazakhstan region, the production of pasta, kymyz and disposable tableware will soon be launched under the ‘Economy of Simple Things’ program. About 80 business plans are being reviewed. 

Regional Branch Representative of Chamber of Entrepreneurs, Marat Nurguatov said that entrepreneurs have a choice. They are considering the program “Endiris” “DKT-2020” and the “Economy of Simple Things”. If there is a business plan that does not fit with any programs, then the entrepreneur can choose one program among the three that is most suited to his business.

According to experts, more than 130 small-and-medium enterprises can take part in the program in the Zhambyl region.

“The ‘Economy of Simple Things’ will make a large contribution to the development of the regional economy, namely about 75 to 78 billion tenge of additional products while rising the region’s GDP by an additional 5%,” said Head of Service Center of Investors of Zhambyl Region, Damir Yegizbaev.

About 200 projects worth 300 billion tenge are currently under consideration.

According to analysts, the share of imports will be reduced to 37% due to the implementation of the program.