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Kazakhstan to adopt law on industrial policy by yearend

7 December 2021 12:11
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Kazakhstan to adopt law on industrial policy by yearend

NUR-SULTAN. KAZINFORM – A law on industrial policy is set to be adopted by the yearend in Kazakhstan, President Kassym-Jomart Tokayev said, Kazinform correspondent reports.

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«In my Address I set a task to increase manufacturing exports by 1.5fold and labor productively by 30% by 2025. These are serious goals for achievement of which we have the potential and necessary conditions are being created,» said Tokayev in his video message during the Altyn Sapa Prize award ceremony.

According to him, adoption of a law on industrial policy is to become a landmark event in the State’s support for businesses.

«The law will allow to systematically address one of the important tasks – industrialization, providing domestic manufacturing enterprises affordable raw materials. The law also aims at stimulating upstream and midstream manufacturing,» said the President.

«There has been a moratorium on inspections of small-sized businesses for the second year, as a result of which the number of inspections has reduced by four times. A legislative framework to implement smart regulation of businesses reducing redundant or irrelevant regulatory requirements has been designed. The relevant law will be adopted by the end of the year,» said the Kazakh Head of State.



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