May 5, 2022

Rate of economic and business activity is recovering in Almaty

Yerkebulan Orazalin, the Head of the Department of Entrepreneurship and Investments of Almaty, announced this at the briefing of the Regional Communications Service. He noted that more than 248 billion tenge of investments have been attracted since the beginning of the year.

According to the speaker, a significant amount of investment has been attracted in real estate, transport and warehousing industry, financial and insurance activities. “Volume of industrial production shows a positive development trend. In the first quarter, products worth 387.8 billion tenge were produced in Almaty, with an increase of 11.5%. I would especially like to note the growth of the manufacturing industry by 18%, which is primarily due to the active development of mechanical engineering - 1.7 times,” said E. Orazalin. Growth was noted in food production - by 1.6%, in beverage production - by 10.5%, in light industry - by 2.9 times to name a few.

According to the head of the Department of Entrepreneurship and Investments, the sphere of trade and services is being restored in Almaty after the January events. For example, according to the results of the first quarter, the volume of retail trade amounted to 737.8 billion tenge, wholesale trade - 2.4 trillion tenge. The speaker added that in the immediate the Regional Commission in Almaty began reparation of damages to the business. To date, the commission has approved 1,499 applications for the total amount of more than 11 billion tenge. “About 95% of the affected entrepreneurs received compensation. Today they reopened their doors for their visitors and returned to their usual activities,” pointed E. Orazalin.

Commission is still considering the most difficult cases that require examination, development of DED, and refreshment of supporting documents. Work on reparation of damages to the business is planned to be completed in May of this year. According to E. Orazalin, small and medium-sized enterprises in Almaty, due to their mobility and flexibility, can quickly adapt to new realities.
“According to the results of the first three months of the year, we see a good growth potential in private entrepreneurship. Thus, the number of operating SMEs increased by 10.5% compared to the same period in 2021 and amounted to 217,822 units,” concluded E. Orazalin.