ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of December 5, 2014 No. 1276

About approval of the Joint action plan of the Government of the Republic of Kazakhstan and National Bank of the Republic of Kazakhstan on ensuring financing of subjects of entrepreneurship in processing industry

The government of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Joint action plan of the Government of the Republic of Kazakhstan and National Bank of the Republic of Kazakhstan on ensuring financing of subjects of entrepreneurship in processing industry (further - the Plan).

2. To joint-stock company "National managing holding "Bayterek" (in coordination) together with joint-stock company "Fund of development of entrepreneurship "Lady" (in coordination) and Development Bank of Kazakhstan joint-stock company (in coordination):

1) to provide timely accomplishment of the Plan;

2) by December 15, 2014 to provide information on execution of the Plan in the Ministry of national economy of the Republic of Kazakhstan.

3. To provide to the ministry of national economy of the Republic of Kazakhstan till December 30, 2014 in the Government of the Republic of Kazakhstan summary information on execution of the Plan.

4. This resolution becomes effective from the date of its signing and is subject to official publication.

Approved by the Order of the Government of the Republic of Kazakhstan of December 5, 2014, No. 1276

The joint action plan of the Government of the Republic of Kazakhstan and National Bank of the Republic of Kazakhstan on ensuring financing of subjects of entrepreneurship in processing industry

Analysis of the current situation

For the purpose of ensuring strong and balanced rise of economy through diversification and increase in its competitiveness, in 2010 the State program on the development forced industrial innovatively for 2010-2014 is adopted (further - GPFIIR). Preliminary results of GPFIIR demonstrate its positive influence on social and economic development of the country. From 2008 to 2013 the actual growth of amount of gross value added of processing industry constituted % 25,8 (with 1,8 to 3, of 8 trillion tenges). For the same period the real increase in labor productivity in processing industry constituted % 158,5 with 37,3 to 57, of thousand dollars. USA/persons (1). At the same time in 2013 the production volume of processing industry made the 5th 852, 6 billion tenges, including the food industry - 1 172, 6 billion tenges (20%), mechanical engineering - 859, 2 billion tenges (% 14,5), the chemical industry - 185, 9 billion tenges (3%) (2).

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(1) Statistical bulletin "Indicators of the State Program on the Development of the Republic of Kazakhstan Forced Industrial Innovatively for 2010-2014." (http://www.stat.gov.kz/faces/wcnav_externalId/publicationsGPFRIR)

(2) Statistical collection "Industry of Kazakhstan and Its Regions" (http://www.stat.gov.kz/faces/wcnav_externalId/publicationsCompilations)

Achievement of high rates of social and economic development happened thanks to such basic factors of competitiveness as security with natural resources, the favorable macroeconomic circle and political stability. At the same time in the long term national economy can lose competitiveness and appear in "trap of average earnings" (3). So, despite positive tendencies, rates of surplus of processing industry decrease (in 2013 - % 1,9 whereas in 2010 - % 13,9). Due to the advancing GDP growth the share of processing industry in its structure decreased with % 11,8 in 2008 to % 10,7 following the results of the first half of the year 2014. Besides, the share of non-oil products in structure of export was reduced from 28% to 24% in the same period.

Delay of growth rates of release of processing industry was followed by decrease in investment activity in the country. So, within the last five years the level of annual growth of investments into fixed capital was reduced with % 14,8) to % 6,9 (4). At the same time the greatest amount of investment investments in 2013 had, as well as in previous years, on the mining industry (29% of all investments into fixed capital). Own means of the companies (59%) whereas in the market the lack of long-term sources of funding is observed remain the main source of investment financing in fixed capital.

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