Hurdles in the form of misaligned policies pursued by the state are addressed specifically.
As far as energy-specific challenges are concerned, the Program - among other issues - emphasizes that in the current economic environment, Kazakhstan faces heightened risk of global long-term fall in prices for primary energy sources and metallurgy commodities. Multifaceted measures undertaken to enhance the competitiveness of national economy and create favorable business environment are expected to strengthen Kazakhstan’s positions in international rankings: Doing Business, Global Competitiveness Index – an assessment of competitiveness landscape carried out by the World Economic Forum, FDI Confidence Index developed by A.T. With a view to expand the economy of Kazakhstan significantly, the policy proposes measures to have the industrial sector embrace more innovation and technology. The Program summarizes on the current economic conditions, identifies existing vulnerabilities and assesses how effective regulatory measures can support the positive determinants of growth. Designed by the Ministry of Industry and New Technologies in line with the principles of the Strategy ‘Kazakhstan 2050’, the Strategic Development Plan until 2020, and the Concept of Accelerated Industrial and Innovative Development for 2010-2014, the Program provides comprehensive responses to the most acute economic and industrial issues pertaining in particular to: 1) strengthening the competitiveness of national economy through industrial diversification 2) accelerating the development of manufacturing industry 3) improving industrial efficiency 3) providing greater market access for non-primary goods 4) developing entrepreneurship and promoting small and midsize businesses in manufacturing 5) improving the productivity of labor 6) investment in industrial infrastructure, technology and innovation. The present Program lays the foundation for the development of sustainable and robust industrial sector in the Republic of Kazakhstan within the time frame of 2015-2019.
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