Steps undertaken to foster business growth within Astana
In Astana, Kazakhstan, the government is taking significant steps to support the growth and development of Small and Medium-Sized Enterprises (SMEs). This year, the city plans to launch a new preferential lending program called "Örleu" to aid micro, small, and medium-sized businesses operating in priority sectors.
One of the key initiatives is the Guarantee Fund 2 (GF-2), which offers guarantees for second-tier bank loans, bonds, and options. The maximum guarantee amount for investments and refinancing under GF-2 is over 7 billion tenge. For working capital, the guarantee provided under GF-2 is up to 40% of the total financing, with a term of up to 15 years.
Subsidies and tax relief are another crucial part of the support package. Kazakhstan has implemented a tax amnesty for SMEs, allowing them to pay off tax debts without fines or penalties if paid in full. Additionally, the threshold for criminal responsibility for tax violations was raised, reducing the risk for small businesses.
The DAMU Entrepreneurship Development Fund plays a crucial role in supporting SMEs, offering preferential lending and guarantees. At the Astana International Trade Forum 2025, discussions highlighted such support measures designed to improve SME access to finance and encourage entrepreneurial growth in Astana.
Grants are provided to social entrepreneurs on a non-repayable basis. To participate in a grant competition for entrepreneurs provided by the state, it is necessary to register as a social entrepreneur. A non-financial state support measure involves maintaining a corresponding registry for social entrepreneurship.
Changes have been made to the Unified Comprehensive Program regarding the subsidization of part of the interest rate and partial credit guarantees from July 2, 2025. As of May 2025, 213 projects worth 31.725.1 billion tenge have been approved under the unified comprehensive program for subsidizing interest rates. Interest rate subsidization is provided to micro and small entrepreneurs, including social entrepreneurs, operating in priority sectors such as processing industry, education, tourism, healthcare, and others.
Astana's efforts to foster SME development and integration into both local and global markets are showing promising results. In 2024, SMEs produced goods and services worth 15.8 trillion tenge, accounting for 19% of the country's total output. There are currently 254,000 SME entities operating in the capital, marking an 8.3% increase compared to the same period in 2024.
Moreover, 528,000 people are employed in the SME sector, representing 73% of the city's working population. A 10% increase in tax revenues and the number of jobs within two financial years is a reciprocal obligation for the creditor's decision.
Italy’s export credit agency SACE signed agreements in Astana to support trade and SMEs by providing guarantees and insurance, particularly in sectors like energy and textiles. These agreements include financial partnerships with banks such as Halyk Bank, facilitating better access to financial services for SMEs engaged in export activities.
In conclusion, Astana supports SMEs through a combination of fiscal relief (tax amnesty), export guarantees and insurance mechanisms, and preferential lending programs facilitated by institutions like the DAMU Fund and partnerships with banks. These efforts aim to foster SME development and integration into both local and global markets.
- The DAMU Entrepreneurship Development Fund, a crucial supporter of Small and Medium-Sized Enterprises (SMEs) in Astana, offers preferential lending and guarantees, promoting entrepreneurial growth in the city.
- Italy’s export credit agency SACE signs agreements in Astana, providing guarantees and insurance to support trade and Small and Medium-Sized Enterprises (SMEs), particularly in sectors like energy and textiles.
- As part of its efforts to support Small and Medium-Sized Enterprises (SMEs), Astana offers subsidies and tax relief, such as a tax amnesty for SMEs, aiming to foster SME development and integration into both local and global markets.
