Kazakh President Kasyym-Jomart Tokayev met with representatives of big business

At a meeting with businessmen, Kazakh President Kasyym-Jomart Tokayev claimed, citing international auditors, that only half of the country's wealth belongs to 162 people. “The gap between rich and poor has become unacceptable. This stratification of income has played the role of a burning match and a barrel of gunpowder” - he noted. The President also introduced the new economic direction of the country.

"The imbalance between the announced socio-economic agenda and the real state of affairs has become sharp. Hence, we need to work together immediately to "reload" economic policy. We need to set new "rules of the game, which are more honest, transparent and fair” - he continued.

Kasyym-Jomart Tokayev called on the business community to start cooperating to establish a new economic policy that should form the basis of a new Kazakhstan. The presentation outlined the following key principles:

Fair competition;

Transparency of adopted decrees;

predictability of public policy;

business tax fairness;

social responsibility of entrepreneurs.

The head of state called on entrepreneurs to show patriotism and social responsibility and focus resources such as capital, experience, management teams and a clear vision of the market to transform the economy.

What is more, Tokayev elaborated on the main principles that should form the basis of the new economic direction of the country.

The first, in his view, is the inviolability of private property. A transparent and fair court must be the guarantor in this matter.

The second component of the new economic direction is the investment climate. The President reiterated that the state will unconditionally fulfill all investment obligations. At the same time, he called on entrepreneurs to invest in their country.

The third principle mentioned in the President's speech is fair competition.
The report also highlighted the need to regulate the taxes and reporting of large enterprises.

The President also touched upon the issue of public procurement reform.

The sixth task set by the President is to reduce the state's participation in the economy.

The lowering of administrative hurdles was mentioned as the sixth aspect of the new economic direction.

In conclusion, the President stressed that dialogue between government agencies and business should ensure consensus between government and business.