The President to Undertake Measures for Stimulating Business Development

March 13, 2014

On February 27, 2014 Nursultan Nazarbayev, the President of the Republic of Kazakhstan signed a Decree on measures for improvement of business environment in the Republic of Kazakhstan.

According to the Decree all central state bodies and local executive bodies (Mayor’s offices) are committed to suspend inspections of small and medium size enterprises from April 2, 2014 to January 1, 2015 (the Decree contains some exceptions to this relief). It should be noted that prohibition of inspections covers only small and medium size businesses. Large scaled businesses do not fall within the purview of the relief.

Besides  the aforementioned relief related to businesses, the Government is committed to draft legislative acts in order to organize inspections based on risk assessment, and make liability insurance of businesses possible as an alternative to inspection of businesses, simplification of the procedure for liquidation of small and medium enterprises, strengthening the role of the National Chamber of Entrepreneurs, and other measures aimed at dramatic improvement of business environment in the Republic of Kazakhstan.

No doubt, suspension of inspections of small and medium business will get rid of unnecessary administrative pressure. If all the commitments specified in the Decree are implemented properly; it could be a real step towards business support, that may lead to growth of small and medium businesses in Kazakhstan.

Yerzhan Manasov