01.09.2021

State of the Nation Address by President of the Republic of Kazakhstan Kassym-Jomart Tokayev

State of the Nation Address by President of the Republic of Kazakhstan Kassym-Jomart Tokayev

On September 1, 2021, President Kassym-Zhomart Tokayev delivered the State of the Nation Address to the people of Kazakhstan titled “The unity of the people and systemic reforms are a solid foundation for the country's prosperity” during a joint meeting of the chambers of the Parliament of the Republic of Kazakhstan. The State of the Nation Address covered the following issues:

  •  economic development of Kazakhstan in the post-pandemic period;

  •  improving the efficiency of the healthcare system;

  •  high-quality education;

  •  improvement of regional policies;

  •  formation of an effective ecosystem in the labor market;

  •  political modernization and protection of human rights;

  •  consolidation of society as the main factor for further progress.

Some of the issues stated by the President are the tasks set for the Baiterek Holding. For instance, the support for businesses at all levels under the “Economy of Simple Things” and “Business Roadmap” programs, which have been extended until 2022.

The President also noted that the merger of the Baiterek and KazAgro Holdings has been completed. The number of portfolio companies has been cut by half, and the number of employees decreased by 1.5 times. As a result, a new, powerful development institution has been created. Since one of the country’s priority tasks is to bring the Agriculture Subsidy Policy in line with the State Industrial Policy, the Government and the Baiterek Holding were instructed to come up with proposals on this issue.

In addition, Kassym-Zhomart Tokayev put forward five initiatives that should be considered in the near future:

  •  to increase the minimum wage and stop using it as a calculation index in taxation and some other areas;

  •  to develop measures to stimulate businesses to increase the salaries of their employees. In particular, develop incentives for regulated purchases and provide businesses with preferential access to state support;

  •  to reduce tax payments from a wage bill from 34% to 25% for micro and small businesses;

  •  to increase the salaries of workers employed in the cultural sector, technical workers, drivers, and representatives of other professions;

  •  to develop a program for affordable housing mortgages.

According to the State of the Nation Address, housing has always been of particular interest to people. On behalf of the President, a comprehensive housing program will be developed. “The program will be implemented by Otbasy Bank, which is being transformed into a national development institution. The bank is responsible for providing citizens with apartments according to the one-stop-shop principle,” – said Kassym-Zhomart Tokayev.

The President also took positive note of the initiative for the early use of pension savings and spoke about the further use of pension savings. “To maintain this trend, I think we should allow people to transfer a part of their pension savings to an account with Otbasy Bank for the purchase of housing. This will also motivate people to accumulate money and manage it competently,” – stated the President.

In conclusion, Kassym-Zhomart Tokayev summed up the results of the Parliament’s work in the current year and noted the need for a thorough study of government bills in the future.

Follow this link to read the full version of the State of the Nation Address >> https://baiterek.gov.kz/en/president-messages/message-from-the-head-of-state-kassym-zhomart-tokayev-... 

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