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Reducing state presence in economy gives additional impetus to entrepreneurship development

by November 8, 2016 General

Minister of National Economy Kuandyk Bishimbayev spoke at the Government meeting chaired by the Prime Minister Bakytzhan Sagintayev on the measures taken to reduce government involvement in the economic activities.

According to the Minister, new niches for business development can be provided via privatization and reasonable reduction of types of government activities in the economy.

K.Bishimbayev informed that in accordance with the instructions of the Head of State the inventory of subordinate ministerial organizations and departments are undergoing inventory with the aim of transferring to the competitive environment or the local level.

According to the Minister, the types of activities and reasonability of maintaining in state ownership of 371 subordinate organizations have been reviewed since October 17-20 this year. 6,751 organizations of the municipal property will be considered until November 10, the list of organizations to be transferred to the competitive environment will be generated by December 1.

As previously informed, Head of State Nursultan Nazarbayev has set the task of ensuring a public sectors 15% share in GDP by 2020.

Source: Government of the Republic of Kazakhstan