The purpose of this study is to identify problems that impede the investment activities of small and medium-sized enterprises (SMEs) in the Republic of Kazakhstan, as well as to study the recommendations of the leading representatives in the business community regarding the activities of the authorities in creating a favorable investment climate. Expert interviews with the Kazakhstan’s entrepreneurs, representatives of Akimats, and representatives of the scientific community have been conducted during the study. The results of the expert survey allow to conclude that the Republic of Kazakhstan has developed a rather favorable investment climate in general, and the authorities have done significant work to create conditions for business development. However, according to the expert review, some problems in the implementation of investment projects by SMEs still remain. According to the experts, the most significant problems include the underdeveloped transport and logistics infrastructure, the lack of available production and office space, and difficulties with registering land, attracting foreign labor, as well as obtaining various permits required for doing business. As a result of the study, the recommendations have been made for eliminating the barriers that hinder the creation of a favorable investment climate and the successful development of SMEs in the Republic of Kazakhstan. According to the experts, the attention should be focused on creating and developing ready-made platforms for doing business for investors, improving transport and logistics infrastructure, speeding up the state property privatization, etc.

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Investment climate and its influence on the development of entrepreneurship: practice of the Republic of Kazakhstan

The paper presents an analysis of viewpoints in the debate concerning tax harmonization in integration unions and the results achieved in the Eurasian integration process, focusing on the specifics of taxation in the EAEU member states. The findings have led the author to conclude that there are considerable differences in taxation approaches and the rates of major budget-forming taxes and excises in the EAEU countries and non-tariff barriers still exist in product and services markets, which is an obstacle for mutual trade and access of excisable goods to the markets of union states. Measures to refine taxation systems are identified with a view to expanding budget revenues and ensuring the competitiveness and financial stability of the EAEU member states. Such measures include the establishment of a unified identification system for foreign trade operators (UISFTO), enhancement of electronic services, automation of information exchange between tax and customs authorities and implementation of new tax administration mechanisms in digital trade.

/pdf/development-of-the-financial-policy-of-the-eurasian-economic-165albrkam.pdf

Development of the financial policy of the Eurasian economic union countries: tax harmonization

Purpose: In the framework of this study, an analysis of domestic experience in the formation of a methodology for conducting strategic economic analysis was carried out. Design: The behavior of strategic economic analysis, in authors’ opinion is defined as a certain process involving several stages, the result of which will be a map for effective strategic business goals. Findings: The authors have distinguish traditional (statistical), economic-mathematical and special techniques in the system of methods of strategic economic analysis; they emphasize the relevance of tools of strategic economic analysis for a commercial organization operating in modern economic conditions, but they focus on the prospects of development in the field of improvement and expansion of the methodological base of this science. Practical implications: The authors substantiated the need to include budgeting in the system of methods of strategic economic analysis and developed an algorithm for conducting strategic economic analysis of the activities of a commercial organization. Originality: As a result of the methodological foundations of strategic economic analysis, a scheme for the correspondence of its methods to the stages of its organization was developed.

/pdf/methodological-approaches-for-strategic-economic-analysis-32eydzpiol.pdf

Methodological Approaches for Strategic Economic Analysis

Background and Purpose: Volume and sophistication of scientific research related to different aspects of entrepre­neurship have significantly increased in recent years. Many authors point out the positive influence that development of micro, small and medium enterprises and entrepreneurship has on economic growth and job creation. According to various researchers, youth entrepreneurship and women entrepreneurship are two very important elements of this global phenomenon. The purpose of this paper is to provide the analysis of strategic framework for the support to the development of youth and women entrepreneurship in Serbia. 
Design/Methodology/Approach: Situational analysis of youth and women employment and examination of official Government strategic documents related to strategic framework for the support to the development of youth and wom­en entrepreneurship in Serbia will be conducted. 
Results: Concrete activities have to be performed by different stakeholders, mostly non-government organizations. The activity stakeholders are on the bottom of the institutional framework, which provides the support to MSME (Mi­cro, Small and Medium Enterprises) sector that will execute the operations in accordance with the defined strategic framework. 
Conclusion: Youth-run enterprises provide numerous benefits for society; they reduce youth unemployment and help young people prepare for their future. Female entrepreneurs also have strong economic and social impact.

https://sciendo.com/pdf/10.1515/orga-2016-0018

Strategic Management in Development of Youth and Women Entrepreneurship - Case of Serbia

The article discusses the world experience in the application of the antitrust regulation system and antitrust compliance. The concept of antitrust compliance and antitrust regulation, the history of the emergence of antitrust regulation and compliance, the foreign practice of application, the features of the use of antitrust compliance in the Russian Federation are analyzed. The system of antitrust regulation is designed to ensure the effective functioning of economic relations of economic entities and reduce the risks of offenses. Antitrust compliance is a combination of legal and organizational measures aimed at compliance with the requirements of antitrust laws and prevention of its violation.

/pdf/world-experience-in-the-application-of-antitrust-regulation-24q27wdk9w.pdf

World experience in the application of antitrust regulation and compliance system.

This article considers the loan indicators in the Republic of Kazakhstan and defines promising areas for the development of project and leasing financing of alternative investment instruments in infrastructure projects. The results of the research demonstrate that on the financial market of the Republic of Kazakhstan the volume of bank credit falls and the availability of capital decreases, which stipulates the attraction of alternative sources of financing for infrastructure projects. Prospective mechanisms of investing in projects of this kind include projects and leasing financing. It is noted that currently, the Republic of Kazakhstan is successfully cooperating with international financial companies and multilateral development banks to attract financial resources to implement investment projects. In spite of the existing leasing development potential, this mechanism for financing infrastructure projects is not entirely used. Stimulation of demand for leasing programs by corporate clients, the development of subsidy programs or guarantees to suppliers to purchase equipment, the reduction of the cost of funding, the development and implementation of project financing programs on the basis of syndication of loans are singled out as promising directions for the further development of project and leasing financing mechanisms.

/pdf/role-and-importance-of-the-damu-enterprise-development-fund-2cc3z5qrsv.pdf

Role and Importance of the Damu Enterprise Development Fund and International Investment Funds in Implementing Project and Leasing Financing Programs in Kazakhstan

For successful economic transition to the new stage of development improvements in business environment, as also the entrepreneurswho are ready to start your own business and to set up new companies. One of the main challenges the EU Member States face isthe need to boost their level of entrepreneurship and to become more competitive in the global market. That was one of the mainobjectives set by the Lisbon European Council, in March 2000, with a view to improving the Union’s performance in terms of employment,economic reform and social cohesion. Entrepreneurship is not only a driving force in the creation of new jobs, but it alsoincreases and enhances competitiveness and growth, personal fulfilment and the achievement of social objectives. The authors payspecific attention to the need to examine factors that affect the business environment development and entrepreneurship in regions ofLatvia, which determinethe complexity of the existing conditions and factors in each region in Latvia. KEYWORDS: regional development, small and medium-sized enterprises. DOI:  http://dx.doi.org/ 10.15181/rfds.v11i3.621

https://www.researchgate.net/profile/Silvija_Brua/publication/257395643_DEVELOPMENT_OF_SMALL_AND_MEDIUM-SIZED_ENTERPRISES_IN_REGIONS_OF_LATVIA/links/02e7e5252f22ea8c35000000.pdf

Galina Reshina

Papers

Role and Importance of the Damu Enterprise Development Fund and International Investment Funds in Implementing Project and Leasing Financing Programs in Kazakhstan

Development of small and medium-sized enterprises in regions of latvia

Promotion of Environmental Audit for Transport Companies in Latvia