Tulegenova ZH.T.
A.Baitursynov Kostanai State University
MODERN
FORMS AND DIRECTIONS STATE REGULATION OF INVESTMENT IN AGRICULTURE (ÀÏÊ)
"Agrarian sector of Kazakhstan has large expert opportunities and
high potential for implementation of investment. The need for food each year in
the world will be to increase. This opportunity we should not miss"
(N. Nazarbaev of the annual address of the President RK, the Leader of
the Nation to the people of Kazakhstan "Social-economic
modernization - the main vector of development of Kazakhstan"
The regulation of the agrarian
sector is a complex and multifaceted problem. His condition does not meet the
real needs of the Republic. Long experience of developed countries and the
practice of Kazakhstan for the last decade show that in the conditions of the
market, without participation of the state economy will not be able to
successfully develop. To ensure sustainable development of agriculture need an
effective economic mechanism based on a combination of state regulation and
market self-regulation, the implementation of a balanced price and
financial-credit policy. At insufficiency of financial resources there is a
need to find additional sources of financing, which in the practical activity
of the agricultural organizations are represented, mainly, by a system of
credits. However, in conditions of higher interest rates, credit as a source of
support for their economic activity is not economically viable, even profitable
businesses. In this regard, the special urgency is got with a problem of
formation of a more effective system of regulation of agro-industrial
production, which in turn implies further systematization and concretization of
used and emerging sources of regulation, revealing of new possibilities of
increasing the flow of funds in the agricultural sector. Currently, the
investment could help the national economy to overcome the impact and
consequences of the global economic crisis; investments are intended for
lifting and production development, increase its capacity, technological level.
The development of the agricultural sector is an important factor of
sustainable economic growth of Kazakhstan. Currently, there is a positive
tendency in the development of agricultural production, food industry. In
agriculture of Kazakhstan, in particular, in agricultural production in recent
years, an increase in the underlying performance, while under the influence of
the global food market changes are outlined and qualitative character. For
their fastening and development, it is necessary to take measures on the
further development of agricultural production, improvement of quality of
production and improvement of the system of management of development of the
industry, formation of favorable investment climate. Recalling that the
investment can be expected results only in case the competent organization of
production, therefore it is necessary to analyze in detail the existing schemes
of purchasing, processing and marketing of agricultural products from the point
of view of their economic efficiency. State investment policy is one of the
main elements of the system of state support of agrarian sector and must meet
the criteria of efficiency from the point of view of the justification of the
needs of all sectors of agrarian and industrial complex in financial resources
for creation of necessary from the point of view of achieving food security of
added value. For Kazakhstan to improve
investment policy in agriculture is an important task, taking into account the
conditions and quality of the natural potential of agricultural production and
rural development and achieve the goals of food security for internal and
external markets. Globally among perspective directions of investment policy in
agriculture are increasing investment in the sustainable development of land
and water resources and improvement of the biology of crops to improve yields
and water saving. The modern state of investment potential of agriculture of
the Republic is characterized by the following data. The volume of investments
in the fixed capital of the industry as a whole is growing steadily, and
dynamics in the regions reflects the structure of agricultural production with
a predominance traditionally grain-producing areas. The dynamics of investments
in the regions in annual terms unstable, especially the sharp fluctuations in
the volume of investments was observed in Akmola, Kostanai, North-Kazakhstan
regions, and Astana, including another decrease occurred in 2010 fluctuations
in the volume of capex affect the
stability of production in the industry. In the structure of sources of
financing own funds of investors have maintained a significant advantage, while
in 2010. increased share of borrowings, including due to increase of volumes of
financing of NUH KazAgro and its subsidiaries, simultaneously decreased share
of budgetary funds and foreign investments. The biggest growth was shown
borrowed funds and funds of local budgets. In order to further expand funding
sources, measures to attract foreign direct and portfolio investments. From
the point of view of diversification of sources of financing it is necessary to
consolidate the trend of increase in the share of borrowed funds. Also the use
of returnable funds will have a disciplining effect on potential borrowers, the
quality of management of economic activities. Quite steadily growing volumes of
crediting by banks of the second level of economic entities in the sector of
agriculture, although these volumes, and is not comparable with the volumes of
lending to other industries. The growth rate of lending in 2011 slowed down,
and this year there has been a slight increase. In the structure of Bank loans
to the economy, the share of agriculture does not exceed 3-4%because of the
risk of the qualitative evaluation of collateral and unstable dynamics of
profitability of agricultural production. Structure of investments in fixed
capital in rural areas by form of ownership was changed in the three years in
the direction of increase in the individual branches of government ownership,
in particular, in Akmola, Zhambyl, South-Kazakhstan, East Kazakhstan. The
ownership share of other countries decreased in Mangistau and Kyzylorda region. In
total investment prevail own expense, in the livestock sector is steadily growing
volume of investments of the borrowed funds, which are connected with the
realization of the state program of development of large-scale farming and
livestock raising funds through "KazAgro". In General, the existing
fluctuations of volumes of investment, especially private investors ' funds,
require an assessment of opportunities of attraction of other sources,
including in the framework of subsidized programs and analysis of the impact of
such periodic breaks to the level of reproduction of fixed assets upon receipt
of relevant information. Created with the purposes of optimization of state
support and improvement of state regulation of AIC, a holding company "KazAgro"
are operators in the reallocation of funds of Republican and local budgets,
funds allocated from the National Fund, loans, international credit lines and
leasing programs, own funds. Procedure for lending to these companies agreed to the
extent of the interest rates, terms of delivery, repayment guarantee. Such
structure of sources allows companies to engage in investment and, accordingly,
structural policies in agriculture taking into account the specifics of
agricultural production, to form and realize the export potential of the
industry, develop rural areas. The structure KazAgro is the presence of huge
amount of financial resources allocated from the state budget and the national
Fund for the development of agriculture. Volume of financing of
the program of development of agriculture in Kazakhstan, founded in the next
three-year budget exceeds that are already ongoing investments in the fixed
capital of agriculture, which creates the opportunity to significantly improve
the situation in the sphere of technological and infrastructural support of AIC.
In order to further develop the agricultural production structure and
efficiency of investment policy in agriculture seems advisable to foster
competition between these companies due to the existing intersections of
directions of their activity, as the management holding one of the objectives
of the development of corporate governance in the industry, including at the
level of organization and regulation. . Including in the process of implementation of policy
and strategy of territorial development of the company data in parallel to
participate in the assessment, information-analytical support and development
of agricultural investment potential of the territories, forming inside and
interregional systems of processing, storage and delivery of agricultural
products, which will have a stabilizing effect on pricing. In General,
investment policy in agriculture of Kazakhstan needs in forming the optimal
structure of investments in the sector and the creation of factors favorable
investment climate. The impact of investment institutions on capital inflows in
agriculture remains insufficient to ensure the competitiveness of domestic
producers of agricultural products. Requires attention to the research of
questions of development of the investment system, aimed at ensuring extended
reproduction of fixed assets of agriculture. This issue is of an urgent matter,
because of the fact that a significant share of production is concentrated in
households that determines the necessity of the formation of an adequate system
of regulation of capital movements, allowing considerably to ensure the
economic interests of this group of producers. Fixed assets
reproduction of agriculture currently is very important given that in the
result of the reforms, the agricultural economy have practically stopped the
processes of updating of material-technical base and first of all its active
part - tractor fleet, which was unable to meet production processes in full in
crop and livestock production in the country. Currently, one of the factors
hindering the development of food production in Kazakhstan remains the low
level of industrial processing of agricultural raw materials caused by the
level of technological security of the food industry, and the quality of raw
materials supply. Investment policy in agriculture taking into account the
specifics of agricultural production should be more diversified, assume
comprehensively informed of the opportunities of developing the potentially
competitive sectors of agriculture, oriented to the domestic market and export
in the regional and international scale. In addition, a chronic
problem is the system of distribution, redistribution and absorptive state
budget, including through the system of agricultural crediting. The solution of
these problems is connected with strengthening of responsibility of the
authorized body, institutes of development of agriculture for development and
improving transparency of the system of financing and crediting, assessed the
effectiveness of subsidizing specific types of agricultural production; development
of economic balances, forecasting needs of the market and the accelerated
creation of necessary production and logistics infrastructure in view of the
continuing demand for food, climatic fluctuations, competition level. Investment
attractiveness of AIC is also defined as a price policy, including in branches
of production of means of production for agro-industrial complex, which has no
particular concept, which is very important for the development of competitive
agricultural producers and market competition in General. As a result, the need
for making prompt decisions on curbing the growth of prices for food products.
1.
Yunaeva R. R. State
regulation of credit system in agriculture // agrarian and industrial complex:
Economy and management. 2009. ¹ 11. 1. C. 27-35.