Small and medium-sized business in Chechnya - 1

The head of the Chechen republic, Ramzan Kadyrov, believes that the best ways of creating jobs is to support small and medium-sized enterprises. One of the priorities of the Chechen administration is to establish new work places and fight unemployment. The strategy is to encourage entrepreneurship. A total sum of 600 million rubles will be spent on it.

Today there are 7,000 companies and 35,000 individual entrepreneurs in the Chechen Republic. The republican Government's Small and Medium-sized Businesses' Development Committee has elaborated a special program, in which all necessary measures are spelled out.

In addition to this the Chechen Republic has won an All-Russian contest and received a grant of 70 million rubles in order to support small businesses. This money will be used to establish a guarantee fund that will compensate banks for their costs in cases when credits are not returned.

Other governmental programs are being established in order to support the development of science and innovations. 10 billion rubles are going to be spent on these programs.

Timur Utsayev, Grozny. Exclusively for VK