Kazakh President awards entrepreneurs

Kazakh President awards entrepreneurs

Today in Astana, a ceremony was held to honor the laureates of the Altyn Sapa and Paryz awards, as well as the winners of the «Best Product of Kazakhstan» competition. The awards were presented by President Kassym-Jomart Tokayev, who emphasized that the success of every entrepreneur is a testament to collective achievements. Domestic producers make a significant contribution to the national economy by delivering high-quality, in-demand goods. The Head of State noted that economic growth is demonstrating impressive momentum — this year it is expected to exceed 6%, and for the first time, GDP may surpass the $300 billion mark. He also stressed that the government must actively work to increase exports of finished products.


«Over the past five years, gross value added in manufacturing has grown by more than 25%, significantly outpacing growth in the mining sector. In recent years, investment in fixed capital has increased by 70%, while labor productivity in the real sector has risen by 40%. Non-resource exports have nearly doubled. As a result, the number of exporters has tripled, expanding the geography of our supplies to 140 countries. This clearly demonstrates that domestic goods are securing their own niches in foreign markets,» Tokayev said.


Today, 4.5 million people work in the business sector — nearly half of Kazakhstan’s employed population. The Head of State emphasized that he pays special attention to the development of small and medium-sized businesses, noting that all key issues remain under his personal supervision. It is important to reduce inflation, ensure the effective implementation of the new Tax Code, and continue reforms aimed at reducing state intervention in the economy while enhancing the country’s investment appeal. The President placed particular emphasis on the need to create favorable conditions for entrepreneurs producing high value-added goods.

«Under my instruction, two guarantee funds have been established within the Damu Fund — for small and medium-sized enterprises (SMEs) and for major investment projects. As part of this effort, 2,229 projects have already received financing totaling more than 400 billion tenge, including over 220 billion tenge backed by state guarantees. To further encourage business activity, a unified small business support program should be adopted without delay,» Tokayev added.