Kazakhstan develops concept of state regulation of entrepreneurship by 2020

Kazakhstan, Astana, April 10 / Trend D.Mukhtarov / The government of Kazakhstan is developing the concept of state regulation of entrepreneurship by 2020, First Deputy Prime Minister - Minister of Regional Development Bakytzhan Sagintayev made this statement at a meeting of the Council of Entrepreneurs under the President on Wednesday. "An integrated concept of state regulation of entrepreneurship by 2020 is under development which will be submitted for approval by late August 2013. Its purpose is to ensure the balance of interests of the state, business and consumers and the regulatory activity of the state," Sagintayev said. He said the state regulation of business should be "cheap and efficient for business and the state". "State agencies before introducing requirements for the business will have to substantiate them and back up cost estimates. Ineffective regulation will not introduced," Sagintayev said. As of Jan.1, 2013, the share of small and medium enterprises in the country's economy was 17.8 per cent. Some 2.5 million people are engaged in this area. Sagintayev noted that 20 out of 31 presidential orders on business development have already been completed. Do you have any feedback? Contact our journalist at agency@trend.az