Kazakhstan’s Tax Reform to Boost Domestic Business
Kazakhstan’s tax and budget reform aims to strengthen support for businesses and increase investment inflow, Vice Minister of National Economy Bauyrzhan Kudaibergenov said at a March 1 meeting of the Coordination Council on cooperation between the ministry and the European Bank for Reconstruction and Development (EBRD).
According to the ministry’s press service, the council has been implementing large-scale programs to support entrepreneurship, provide consulting, and create jobs since 2013. For instance, the Business Consulting Services program has financed over 1,800 consulting projects and organized more than 300 training events.
The Women in Business program, launched in 2015, has trained 846 women entrepreneurs and enabled 19.7% of participating companies to grow from micro to small and medium-sized businesses (SMEs).
“This has led to 73% of companies increasing their income, with a total rise of 673 million euros (US$719.4 million). Nearly 7,000 new jobs have been created, more than half taken by women,” Kudaibergenov noted.
EBRD Regional Associate Director Simone Zeh Atanasovski outlined the bank’s 2025 SME support plans, focusing on medium-sized businesses, advisory support, and digital transformation.
The 2024 results showed significant success, with 2,380 projects implemented under advisory programs, 78% of which were recognized as successful. Expected outcomes include a 42% rise in turnover, the creation of 9,500 jobs, a 22% boost in labor productivity, and a 55% increase in exports.
In 2025, the focus will be on enhancing the entrepreneurial skills of micro-businesses and strengthening the investment potential of medium-sized enterprises.
Photo credit: gov.kz
