OREANDA-NEWS. July 03, 2014. Prime Minister Karim Massimov has chaired the cabinet meeting, where a wide range of issues related to socio-economic development of the country has been discussed.

Minister of Economy and Budget Planning Y. Dossayev reported on implementation of the Roadmap, priorities of socio-economic policy of Kazakhstan.

According to the Head of MEBP, 38 out of 67 points of Roadmap have been implemented. As Y. Dossayev noted that "work on additional stimulus of economy, its diversification and modernization, development of export potential of the country have been carried out". "President's instructions for additional stimulation of economic growth at the expense of 1 trillion tenge allocated from the National Fund have started to be implemented. 500 billion tenge were directed for economic growth this year, including to support and crediting SME - 100 billion tenge, banking sector improvement - 250 billion tenge and projects of industrial-innovative development - 150 billion tenge," the Minister said.

Y. Dossayev also noted that as part of the directions of the Roadmap, 143 projects in the manufacturing industry worth 36.8 billion tenge were approved, of those 81 projects worth 20.4 billion tenge were funded. "In the food industry, 55 projects worth 13.7 billion tenge were approved, of those 28 projects worth 6 billion tenge were funded," the Head of MEBP said.

The Minister announced about the development of a new mechanism for subsidizing investments providing for compensation from 20 to 80% of the entrepreneurs’ costs under implementation of investment projects within "Agribusiness 2020" program. Moreover, Concept for development of finance until 2030 has been developed to address priority problems in the financial sector. Along with this, the Government adopted a comprehensive action plan to attract direct foreign and domestic investment, providing for negotiations with large foreign investors and multinational corporations.

To sum up, the Minister stressed that, in the framework of the Roadmap, the work on its updating for second half of 2014 with proposals of government, local executive bodies and national holdings is being carried out.

Minister of Agriculture A. Mamytbekov reported on implementation of "Development of beef’s export potential" project in regions and informed on the process of implementing activities on financial rehabilitation of agricultural sector’s subjects at the cabinet meeting.

Cabinet members heard a report from the Head of the Regional Development Ministry B.Zhamishev on approaches to reform the heating sector in the cities and settlements and on mechanism of completed facilities acceptance into operation.

Following the meeting, the Prime Minister gave instructions to the relevant public organs.