Investing in Technologies, Tax Optimization, and Trade

Farmers in Kazakhstan will be reimbursed up to 80% of the costs for water-saving technologies, with drip irrigation currently utilized on only 84 thousand hectares. The forthcoming "Concept for the Development of Water Resource Management for 2024-2030" aims to establish a robust system for monitoring and forecasting water resources, crucial for ensuring water security. 

Tax Optimization: 

Kazakhstan plans to streamline its tax system by 20%, supporting domestic entrepreneurs through extensive efforts. With these measures the share of small and medium-sized businesses in the country's GDP has risen to 36.5% targeting a further increase up to 40% by 2030. The initiative will lead to a significant reduction in planned business inspections and legal actions against entrepreneurs. 

Trade Dynamics: 

The retail trade volume in 2023 surpassed 19 trillion tenge with two-thirds attributed to non-food items. Three regions – Almaty, Astana, and Karaganda – accounted for over half of the official retail volume. While the value of food products increased by 12.2% in monetary terms, while 3.4% decline was observed in real terms. Creating more transparent conditions for trade and bringing existing schemes out of the shadows remain pivotal challenges for sector development.