Results of Capital City’s Economic Development

Nur-Sultan is the largest business center in Kazakhstan with favorable conditions for doing business and attracting investments. Mayor of the capital, Altai Kulginov said at a press conference that the share of small and medium-sized businesses in the structure of gross regional product amounted to 52.5 percent, which is one of the highest indicators in Kazakhstan.

The indicator has doubled since 2008. In general, results of the social and economic development show a positive dynamic. The gross regional product has grown 4.2 percent in the first 11 months of this year and amounted to 2.7 trillion Tenge. Meanwhile, volumes of industrial products increased to more than 11 percent.

“The positive trend in the trade sector continues. The industry grew 4.6 percent while the volume of goods produced by small and medium sized enterprises grew more than 3.3 percent and amounted to 2.4 trillion Tenge. In the real sector of the economy, 21,400 new permanent jobs are created, nearly 20,000 or 93 percent of the jobs are in the area of small and medium sized businesses. In terms of the volume of construction work, we grew by 18 percent compared to the first half of the year. Previously, the indicator was 80 percent but now it is 98.5 percent. The growth of attracted investments is more than 90 percent compared to 80 percent before. This means that we grew more than 10 percent,” Kulginov said.