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Overview

The aim of the New Kazakhstan program is to apply improvements in social and economic conditions, as well as political modernisation, to promote long-term stability.

Fair competition, transparency and predictability of state policy, taxing honesty and social responsibility are set to become the principal elements of the new economic policy. The reforms will be applied to all spheres – from budget planning and management to social welfare, agriculture, industry and foreign trade.

It has been a long way since the establishment of a market economy in Kazakhstan 20 years ago. At that time many were concerned that privatizing national assets would lead to chaos or even militant extremism. The Kazakh people proved

“I am confident that business people are interested in the successful implementation of socio-economic reforms,” said Tokayev.

The President instructed the creation of the Council of Domestic Entrepreneurs. “This will be one of the areas of socio-economic reforms. Business leaders can take part in this project group. The prepared packages and proposals will serve as the basis of the medium-term program of the new economic policy,” he added.

A principal task is to make the economic policy more targeted and efficient, as well as to adapt it to the new economic reality. We should make a breakthrough in this direction. I am confident that business people are interested in the successful implementation of socio-economic reforms.

Tokayev noted that he will continue the policy of political transformation and modernization with the transition to a market, socially-oriented and diversified economy.

Principal elements of the new economic policy

The first element is the inviolability of private property, said the President. Transparency of court proceedings should guarantee this. In this regard, the reforms in the judicial system are important. New experts are invited to the courts. A new Judicial Collegium of the Supreme Court for Administrative Cases has already been established. According to Tokayev, this will reduce the pressure on entrepreneurs in cases under article 184 of the Administrative Code.

A new legal environment should also ensure fair competition in all spheres of production and business activities. A full-fledged anti-monopoly legislation must be developed within 6 months. A single code of contracting activity is being introduced.

An element of the new economic policy is tax reform. The reforms are focused on improving the system of taxation and encouraging taxpayers to voluntarily report their income.

The second element of the economic course is the investment climate. The government will fulfill all investment obligations. The President also called on business people “to reinvest funds in our country.”

The third element is the social dimension. The reforms are aimed at providing additional guarantees to entrepreneurs, in particular with regard to taxation. The privatization of housing will be complex and selective. Tokayev also called on the business community to render voluntary assistance to families that lost their breadwinners in the terrorist attack in Almaty.

The third element is fair competition. It is necessary to analyze artificial monopolies, according to Tokayev. These activities should be prohibited by law.

A new tax policy is essential as well as reforms in the procurement system.

“It is necessary to reform the quasi-public sector. These are about 6,500 organizations. The participation of the state in entrepreneurial activity should be reduced,” said the head of state.

Tokayev instructed the government to reduce administrative barriers. “Last year, more than 2,500 complaints from entrepreneurs about disagreement with the actions and decisions of officials of the criminal prosecution authorities were considered. Entrepreneurs complained about the police, the economic investigation service, the anti-corruption service, and national security,” he said.

The President instructed the government to work on simplifying business conditions and expand opportunities for using electronic technologies, make the process of obtaining licenses easier, develop legislation on crowd funding and reduce administrative barriers for micro-entrepreneurs.

Tokayev also noted that it is necessary to improve the judicial system

Tokayev also instructed the government to review the strict quarantine measures taking into account the concerns of the small and medium-sized businesses.

The inviolability of private property, said the President. Transparency of court proceedings should guarantee this. In this regard, the reforms in the judicial system are important. New experts are invited to the courts. A new Judicial Collegium of the Supreme Court for Administrative Cases has already been established.

Constructive interaction between government and business is a solid foundation for social stability, said the President. This ensures important conditions for the implementation of economic and political reforms.

“We are building up a listening state and this meeting proves that all constructive proposals by businesses will be taken into account in sectoral and structural policies,” the President noted.