Weekly Review: Enthusiasm of young entrepreneurs and business women is crucial for economic diversification, PM

ASTANA. June 10. KAZINFORM /Muratbek Makulbekov/ The most significant event of the last week was the 7th World Islamic Economic Forum held on June 7-9 in Astana. On June 6 Kazakh PM Karim Massimov met with his Malaysian counterpart Najib Razak.
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Following the results of the talks a number of documents were signed.

On Tuesday Karim Massimov addressed the joint opening sessions of the Business Women Forum and Young Leaders Forum.

"We want to increase the contribution of small and medium businesses up to 40 percent of GDP by the end of the decade. To achieve this goal we are improving education, reducing the administrative burden on business and making more free access to elite resources," Massimov said.

According to him, today more than a third of Kazakhstan's GDP comes from business. Over three million people work in this sphere.

"We are confident that in the 21st century it is important to be open to new ideas, new influences, and create a society where everyone can develop equally," the Premier of Kazakhstan emphasized.

Unemployment in Kazakhstan is lower than in the most developed countries - Great Britain, France, Germany and the USA.

"During the global recession, our economy has grown rapidly and is now growing at the level of seven percent per year. We were able to halve unemployment. And nowadays it is lower that in Great Britain, France, Germany and the USA," K.Massimov said.

"Our GDP increased by twelvefold and at present makes USD 9 thousand per capita," he added.

President Nursultan Nazarbayev develops programs which will help women hold leading positions in politics, business and civil society.

The Premier noted that Kazakhstani women play a very important role in our progress from the first days of the independence.

"Statistics show that women contribute about 30% of our GDP. This figure is steadily increasing, hence women's progress in Kazakhstan is our attempt to eliminate all signs of discrimination."

According to Vice Prime Minister and Minister of Industry and Trade of Kazakhstan Asset Issekeshev, the system of attracting direct investments will be developed in Kazakhstan. The system will include the complex of stimulating measures and mechanisms of work with foreign investors.

'We would like you to come to our country as guests and work with Kazakhstan as partners as well. Partnership, integration and progress are not just words; these are the strategic driving force of success. It is our President Nursultan Nazarbayev who initiated a number of integration institutions. The SCO, EurAsEC, CICA are the organizations that were initiated by our Leader,' A. Issekeshev said addressing the participants of the Forum.

He also emphasized that thanks to the wise policy conducted by the President of Kazakhstan the economy of our country overcame the financial crisis and was now on the trajectory of steady development. Besides, the Government has developed a plan on obtaining seven percent economy growth.

On Tuesday 1st Vice Premier Umirzak Shukeyev held a working meeting on realization of the President's tasks on building up a food belt around Astana city, a green zone and the Nura-Ishim canal bed clean-up. Agriculture Ministry, Astana and Akmola oblast administrations were encharged with tasks.

Later the same day Shukeyev met with 1st Vice Premier of Kyrgyzstan Omurbek Babanov to discuss cooperation between customs and border service of the two states.

On Tuesday PM Massimov introduced new head of the State Agency for Religious Affairs of Kazakhstan Kairat Lama Sharif to the staff.

"I believe we have to conduct responsible policy. The concerning religion must be in one flow of development of our whole society," K. Massimov said.

The Premier expressed his confidence that a new head of the Agency would justify the trust of the Head of State.

"Our country is a multiethnic and multi-confessional state. There are a lot of confessions thriving in Kazakhstan and it is an achievement that was accomplished by our President," K. Massimov emphasized.

On Wed a number of agreements was signed following the plenary session of the World Islamic Economic Forum in Astana.

AMANAHRAYA GROUP CAPITAL and Fattah Finance JSC signed agreement on strategic partnership.

Fattah Shop Company and HALAGEL (М) SDN BHD signed distributorship agreement.

Memoranda of understanding were inked between National Information Technologies JSC and My E.G. Services Berhad; Zerde National Information and Communication Holding JSC and MIMOS Berhad; KazNex Invest and Kazakhstan-Malaysia Chamber of Commerce.

On Tuesday the 7th WIEF completed its work. "In three years to come Kazakhstan plans to reduce budget gap to 1.5% to GDP," Kazakh Finance Minister Bolat Zhamishev told at the plenary session of the VII World Islamic Economic Forum on Islamic banking and finance.

"Our country starts implementing Islamic financial instruments and, undoubtedly, the forum like this one will contribute to successful development of this financial sector, and this issue is of crucial meaning for Kazakhstan."

According to Vice Prime Minister and Minister of Industry and Trade of Kazakhstan Asset Issekeshev, year after year the World Islamic Economic Forum has been becoming an efficient mechanism supporting development of socio-economic, cultural and humanitarian cooperation of the Islamic countries." The annual growth of the number of the contracts and agreements signed illustrates mainstreaming of the cooperation. By the most conservative estimates the VII WIFE ended with a signing of about 15 agreements and contracts.

Favorable weather allows us to think of good harvest this year. Minister of Agriculture of Kazakhstan Asylzhan Mamytbekov said it in Almaty on Tuesday.

He noted that Kazakhstan grew mostly grain, therefore, the harvest issue was the most relevant one for the people of Kazakhstan. "Thanks to the allocated funds that were given to buy fuel, the sowing campaign was completed in time. The other important condition was the weather which was quite favorable but better for weeds because they are stronger than domestic plants. Therefore, we are now working on a credit program with a lower interest rate so the farmers could afford purchasing herbicides and then processing their lands," the Minister said.

On Tuesday Vice Prime Minister and Minister of Industry and Trade of Kazakhstan Asset Issekeshev took part in the start-up of a new car assembly line for the production of a new conceptual model of SsangYong New Actyon crossover.

On Friday, June 10, Issekeshev paid a working trip to East Kazakhstan oblast to get acquainted with the work of Semey city TPP-1, industrial facilities and project realized under the Forced Industrial and Innovation Development Program. He chaired a sitting on the development of the regional enterprises.

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