Kazakh government reviews implementation of lending program of economy of simple things

AKIPRESS.COM - The issues of developing the branches of the economy of simple things, local content and import substitution were considered at the session of the government of Kazakhstan, the press service of the Prime Minister reported.
The report was made by the chairman of the Atameken National Chamber of Entrepreneurs Ablay Myrzakhmetov, who said that as of Dec. 20, 2019, as part of the program of concessional lending to industries of the "simple things economy," 830 projects worth 206 billion tenge were approved, including 172 in the manufacturing and services sectors, 79 - in agricultural processing sector, 579 - in agricultural production. Of these, 707 projects received a loan for expansion and modernization, 123 - for new enterprises. Under consideration in second-tier banks are projects worth 212 billion tenge.
In order to improve the Program of preferential lending, the Government Project Office proposed to increase the loan term for investment purposes from 7 to 10 years, which will support large projects with a long payback period and allow them to reach the profitability stage.
PM Askar Mamin stressed the need for active work of the regions to search for potential entrepreneurs and support their projects until the full implementation of the "simple things economy" soft loan program.
Mamin noted the regions with the best indicators for approved projects - West Kazakhstan, Turkestan and East Kazakhstan regions. The cities of Nur-Sultan and Almaty, Atyrau and Kostanay regions are named as lagging behind.
The head of government noted the need to continue work on developing the share of local content, especially in regulated procurement.