Number of active SMEs up 44% in Kazakhstan – National Economy Ministry

15:19, 5 April 2023

ASTANA. KAZINFORM – The number of active small and medium-sized enterprises rose by 44% in Kazakhstan, Merei Issayeva, deputy head of the state support and entrepreneurship protection department of the National Economy Ministry of Kazakhstan, Kazinform correspondent reports.

Addressing a business forum, Issayeva said that the Ministry’s primary objectives are increasing the share of SMEs in the economy to up to 40%, that of medium-sized businesses to 20% of the GDP, bringing down the shadow economy’s share to 12%, and raising the number of those employed to five million people.

According to her, the SME share demonstrated a 35.7% rise, with those working in SME estimated at 3.5 million, up by 35%. The number of active SMEs rose by 44% to stand at 1.4 million, and that of registered SMEs was estimated at 1.6 million, up 17% compared with 2019.

Notably, as part of the Business Technology Expo 2023 international exhibition the business forum themed ‘New Kazakhstan in the context of ESG transformation’ serving as a dialogue platform for business representatives, entrepreneurs, and heads of government structures kicked off.

Kazakhstan News Ministry of National Economy Small and medium-sized business Economy

Adlet Seilkhanov

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