“Baiterek” Holding being a key financial institution of the Government of the Republic of Kazakhstan actively takes part in the implementation of the main socially important state programs, from population providing with affordable housing to large industrial projects support. Aidar ARIFKHANOV, Chairman of the Management Board of “National Managing Holding “Baiterek” JSC, reported about specific results of works performed in this area in the interview with “Kazakhstanskaya Pravda”.
Effective work performance in all the areas
Aidar Abdrazakhovich, in the implementation of which state programs of paramount social importance, “Baiterek” Holding takes part? In which of them does the group of companies play a key role?
- Head of State and Government set a specific mission to “Baiterek” Holding – promotion of sustainable economic development of Kazakhstan. Therefore, activity of the Holding, including 11 portfolio companies, is focused on the implementation of a number of key state programs.
First, large business is supported through the mechanisms of the Development Bank of Kazakhstan in the framework of the State Program for Industrial and Innovative Development. For the period from 2015 to 2017, DBK financed 14 major investment projects in the manufacturing industry and production infrastructure for a total amount of more than 270 billion KZT. The Holding undertook an obligation to attract additional financing for the amount of 150 billion KZT under market conditions to the previously allocated 75 billion KZT from the National Fund in order to support the SPIID projects.
Secondly, “Damu” Entrepreneurship Development Fund is the fiscal agent for the implementation of the State Program “Business Road Map 2020”, aimed at involving of the general public in business activity. During the eight years of the program implementation, remuneration rate subsidizing contracts for more than 11900 projects were signed for a total amount of 2.2 trillion KZT.
In addition, “Damu” Fund was designated as the Operator of the Program for the Efficient Employment and Mass Entrepreneurship development for 2017-2021 aimed at stimulating of business activity among the unemployed and self-employed population, in the framework of which about 1260 projects for the total amount of loans for 13.7 billion KZT have already been financed.
Thirdly, “Baiterek” Holding is the sole operator of the state program of housing construction “Nurly zher”, in which all previously existing housing programs were integrated. It should be noted that the tools of the five subsidiaries of the Holding contribute to increasing of the housing affordability both for demand and supply.
Fourthly, the Holding carries out a number of important tasks to implement the program of infrastructure development "Nurly zhol". By offering a wide range of instruments through the subsidiaries, the Holding provides extensive support to domestic producers and exporters. In particular, within the framework of stimulating of the export potential, the Holding through export tools of DBK from 2015 to 2017 supported 14 exporting enterprises for a total amount of 228.6 billion KZT. Thanks to the financial support provided to the countries of the near and far abroad (Russia, China, European Union, Central Asia, etc.), a wide range of manufacturing industry products was exported, from food products to cars and locomotives.
Also, in order to stimulate entrepreneurial activity in the manufacturing industry sectors, the Holding through the tools of second-tier banks, conditionally financed 82 large business projects for the amount of 118.2 billion KZT and 2138 SME projects for the amount of 456.4 billion KZT.
In addition, to ensure home-made cars demand, the Holding successfully tested and implemented a program of privileged car loans to individuals. In particular, for the six months of the current year, through the mechanism of privileged car loans, 2327 home-made cars were purchased by individuals, which is about 18% of the total sales volume of Kazakhstan car industry.
It should be noted that each of the programs implemented by “Baiterek” Holding has a specific economic and social effect that brings real benefits to the sustainable development of the state and improvement of the well-being of the people of Kazakhstan. In general, the Holding, through its well-coordinated work with government bodies, domestic and foreign business partners, and with the active participation of citizens, effectively satisfies the set objectives.
Full version of the interview read here.