Kazakhstan plans to double share of small and medium business in economy in eight years

Azerbaijan, Baku, June 22 / Trend E. Kosolapova/ Kazakhstan plans to double the share of small and medium enterprises (SMEs) in the structure of the economy during the next eight years, Novosti-Kazakhstan reported, quoting Kazakh President Nursultan Nazarbayev. "I order to bring the share of small and medium-sized businesses in the economy to 40 percent by 2020," Nazarbayev said on Friday at the conference on entrepreneurship development. According to the President, the share of SMEs hit 21 percent of the country's GDP in 2011 compared to 17 percent in 2010. Meanwhile, Nazarbayev considers business is quite passive in the country. "There is a lack of business activity in the country in spite of creation of all possible favorable conditions," the President said. Do you have any feedback? Contact our journalist at agency@trend.az