ASTANA — President Kassym-Jomart Tokayev proposed a new three-year moratorium on inspections of small and medium-sized enterprises (SMEs) and called for a more systematic investment policy in his state-of-the-nation address on Oct. 28. “Investment efficiency should be assessed by the number and quality of commissioned production facilities, as well as their actual contribution to the economy,” Tokayev said.
He said priority should be given to projects involving deeper processing of products and higher labor productivity. “This is the main requirement,” he said. Tokayev also called for developing domestic production of construction materials, metal structures and engineering equipment needed for major infrastructure projects.
He said these projects should form the foundation of the People’s Construction program. “It is unacceptable to use National Fund resources to finance imports,” Tokayev said. To give the economy fresh momentum, Kazakhstan should attract leading international companies with advanced technologies, expertise and access to global markets, including through cooperation with domestic companies, he said.
Tokayev proposes three-year moratorium on SME inspections Tokayev proposed that the government and members of the Kurultai, Kazakhstan’s parliament, consider introducing a three-year moratorium on SME inspections starting Jan. 1, 2027. He said the proposal followed a mixed trend in enforcement.
In the first half of the year, the number of violations by individual entrepreneurs fell by 34%, while the total amount of fines increased by nearly 11% and unscheduled inspections rose dozens of times. “Meanwhile, an analysis of business activity shows that businesses simply need not to be obstructed,” Tokayev said.
He pointed to the 2020-2023 moratorium on inspections of micro and small businesses as an example of an effective measure, while stressing that the experience of the previous moratorium, including its positive and negative aspects, should be taken into account.
Tokayev described the proposed measure as a strategic pause to reset the oversight system and transition to digital regulation. Small and medium-sized enterprises account for 40% of Kazakhstan’s gross domestic product, while their share of investment in fixed capital is approaching 70%, he said.
More than one-third of entrepreneurs in the sector are engaged in trade, underscoring the need to diversify small businesses.