ASTANA, October 28 (RIA Novosti) - Kazakh President Nursultan Nazarbayev told a business forum in the country's capital Friday that fixed capital investments in 9M05 grew 150%, year on year, reaching 1,400 billion tenge ($10 billion), with the private sector accounting for the greater part of the growth.
"This is showcasing an increasing role of entrepreneurship in the country," he said, adding that small and medium businesses make up about 30% of the country's GDP.
The president said loans to small and medium businesses would reach $680 million within next three years and highlighted the increasing role and number of microcredit organizations in the republic. This year a total of 350 microcredit organizations provided more than $70 million in loans to small businesses.
"This provides substantial help," he said.
