President Tokayev gives instructions to Baiterek Holding Chairman Nurlan Baibazarov

Kazakh Head of State Kassym-Jomart Tokayev received Nurlan Baibazarov, chairman of the board of the Baiterek National Management Holding, Kazinform News Agency cites Akorda. 

Tokayev was briefed about the outcomes of the Holding’s operation in 2023, including the support for entrepreneurship, agro-industrial complex and housing provision.

Baibazarov said that in 2023, the Holding’s assets saw a 12% increase, investment and loan portfolios a 10% rise, and net revenue a 7% growth, exceeding 400 billion tenge.

The Head of State was informed that as part of the development of real economic sector, Baiterek’s planned indicators of financing for major projects and leasing deals exceeded by 24%, and micro-, small- and medium-sized business projects by 42%.

The out-turn via the Kazakhstan’s Development Bank and Industrial Development Fund on 300 projects and leasing deals reached a record of 1,061 trillion tenge. 554.7 billion tenge was invested in the agro-industrial complex, 11% more than the planned amount. In 2023, 1.1 thousand farmers suffered from drought and water shortage received financial support to the tune of 48 billion tenge via subsidiaries.

Baibazarov also reported that during the reporting year, the Holding commissioned up to 2 million square meters of housing, with 317.6 billion tenge invested in the housing sector. Loans to the tune of over 1 trillion tenge were provided via Otbasy bank’s mortgage programs.

Tokayev was also informed about the Holding’s initiatives for 2024. They include investing investments worth 370 billion tenge and creating over 4 thousand new jobs in the agro-industrial complex, launching funding programs in manufacturing, tourism, constructing a waste recycling and sorting plant, and launching the 9-20-25 housing program.

In conclusion, the Kazakh Head of State was briefed that after the realization of the initiatives, by the yearend the Baiterek Holding’s contribution to the economic growth of the country will be doubled compared with 2020.

The Kazakh President stressed the importance of launching new programs and adopting comprehensive approaches towards supporting economic growth and increasing the living standards of citizens as well as gave instructions to enhance the Holding’s work in terms of diversification of the economy and developing the strategic industries.