President Tokayev gives instructions to better Baiterek Holding’s activity

Head of State of Kazakhstan Kassym-Jomart Tokayev received Chairman of the Board of the National Management Holding Baiterek Nurlan Baibazarov, Kazinform News Agency cites the Akorda press service. 

During the meeting, Tokayev was briefed on the results of the activity of the Holding in nine months of 2023, including the work on the support of entrepreneurship and agro-industrial complex, as well as housing provision.

According to the presented information, the volume of investment projects financing stood at KZT511bn, support for 18.1 thousand projects of SMEs was provided to the tune of around KZT1trl. The financial support for the country’s agro-industrial complex was estimated at KZT447bn. In the nine months of this year, 811.2 thousand square meters of housing were commissioned, around 47 thousand families received new housing.

The Head of State was also informed about the measures taken to transform and digitalize the Holding’s activity. It was noted that Baiterek is to double its amount of support for the country’s non-primary economy in the next two years. The work on attracting investments and involving commercial banks in lending manufacturing projects is to be stepped up.

Launch of programs to finance projects in the food industry as well as creation of a full-fledged export-credit agency are slated to saturate the domestic market and increase the export capacity of the agro-industrial complex.

As part of the implementation of the President’s instructions, the Holding’s housing direction will be transformed taking into account the significance of providing housing to residents of single-industry towns, district centers and villages.

Following the meeting, President Tokayev stressed the importance of introducing new approaches to support the economic growth and increase the standard of living of citizens as well as set a number of tasks to better the activity of the Baiterek Holding.