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Dear Olzhas Abayuly, dear colleagues!
Following the results of the Holding’s activities in 2025, the total volume of financing across all areas amounted to 10.4 trillion tenge against the planned 10 trillion tenge (at the same time, the utilization of allocated funds began in June 2025, and out of the planned 1 trillion tenge, 514.2 billion tenge was received).
This made it possible by the end of 2025 to finance 77 large projects, support 27.4 thousand SME projects, including 7.9 thousand agricultural producers under spring field campaigns, support 131 exporters, cultivate 8 million hectares of land, finance 11.4 thousand units of agricultural machinery through leasing, and provide housing for 77.5 thousand families, including 11.6 thousand citizens on waiting lists.
In 2026, it is planned to bring the volume of financing for the real sector of the economy to 8 trillion tenge, subject to the expected capitalization of the Holding in the amount of 1 trillion tenge.
The Industrial Development Fund will be reoriented toward projects aimed at the development of SMEs and priority sectors with a value starting from 7 billion tenge and will be transformed into a full-fledged development institution for the mechanical engineering sector.
It should be noted that, together with the National Bank and other interested government agencies, an agreement was reached on the phased transfer of projects up to 7 billion tenge to second-tier banks by the end of 2028.
The Damu Fund will continue to provide indirect support to SMEs by engaging the liquidity of second-tier banks.
Agrarian Credit Corporation and KazAgroFinance will allocate 1 trillion tenge to support projects in the agro-industrial complex, including deep processing and the food industry, to supply the domestic market.
To promote non-commodity exports, the Development Bank of Kazakhstan will allocate 2 trillion tenge. The Export Credit Agency of Kazakhstan will provide support to exporters in the amount of 600 billion tenge.
In case of insufficient capitalization of projects, QIC will provide support through equity financing.
Thus, all financial operators of the Baiterek group of companies will focus on specific sectors and complement each other in supporting businesses.
Within the framework of the transformation into a National Investment Holding, on January 30 of the current year, an Investment Service was established, including four sectoral investment directorates headed by managing directors.
The key KPIs of the managing directors will be the volume of investments attracted to the economy and the implementation of 15–20 country projects.
This structure provides for investment activity in key sectors – agro-industrial complex, food industry, construction sector and production of building materials, mining and metallurgical complex, mechanical engineering, energy, chemistry, infrastructure, logistics, transport, tourism, and others.
Together with sectoral ministries and akimats, certain work has been carried out to structure projects. The Holding analyzed 1,500 projects in terms of cost, export orientation, and processing.
At the same time, to ensure synchronization of work with ministries, akimats, and Kazakh Invest, the Holding will additionally provide criteria to optimize the initial selection of projects.
Currently, the Holding has a 2026 pipeline of 449 developed investment projects with a financing volume of 3.4 trillion tenge. From this pipeline, 12 projects (valued up to 7 billion tenge) totaling 45 billion tenge will be transferred to second-tier banks.
The Holding reviewed a pool of 1,319 potential projects totaling about 80 trillion tenge in the NCIP database.
However, it should be noted that this pool of projects lacks information on the level of their elaboration, and up to 30% of projects duplicate each other. At the same time, projects separately presented by akimats are not reflected in the NCIP.
In this regard, joint efforts are needed to improve the NCIP as a unified database of investment projects and a key source for high-quality selection and evaluation.
To ensure sustainable growth of key sectors of the economy, the Holding has supported investment projects contributing to economic diversification. These projects are currently in the investment phase.
In the metallurgy sector, 23 projects with a total value of 3.9 trillion tenge are being implemented. For example, comprehensive modernization of the metallurgical cluster (1.75 trillion tenge), Aktogay mining and processing plant (1.85 trillion tenge), ferro-silicon production plant (127 billion tenge), and others.
A total of 55 potential projects amounting to 13.6 trillion tenge have been identified, including the Qarmet modernization project (1.6 trillion tenge), copper processing and beneficiation (1.3 trillion tenge), and others.
In mechanical engineering, 21 projects totaling 610.6 billion tenge are at the financing stage, including the construction of a shipbuilding yard (132.5 billion tenge), a forging and bandage complex for the production of forged products (73.2 billion tenge), and others.
In addition, 20 projects totaling 642 billion tenge are expected for consideration. These include projects for the construction of a multi-brand automobile manufacturing plant (150 billion tenge), a railway wagon manufacturing plant (106 billion tenge), a heavy engineering plant (27 billion tenge), and others.
In the chemical industry, 11 projects totaling 636 billion tenge are being implemented. These include projects for the production of soda ash (190 billion tenge), a caustic soda production plant (152 billion tenge), a sulfuric acid plant (113 billion tenge), and others.
The number of potential projects is 35 with a total value of 7.2 trillion tenge, including an ammonia-urea complex (931 billion tenge), potash beneficiation and production complex (905.8 billion tenge), and others.
In the energy and oil refining sector, there are 9 projects totaling 1.3 trillion tenge, including projects for the construction of a gas processing plant (446 billion tenge), a methanol gas-chemical complex (79 billion tenge), the modernization of Almaty CHPP-2 (436 billion tenge), and others.
In the NCIP, among 100 potential projects totaling 39.7 trillion tenge, there are projects such as a green hydrogen production plant (3.6 trillion tenge), expansion of refinery production capacities (2.5 trillion tenge), CHPP construction in Semey (714 billion tenge), and others.
In the agro-industrial complex sector, 69 projects totaling 415.9 billion tenge are being implemented, including the construction of a greenhouse complex on 51.2 hectares (69 billion tenge), a closed-cycle poultry complex for broiler meat production and processing (24 billion tenge), a plant for processing and packaging, producing apple juice concentrate and fruit and vegetable purees (9 billion tenge), and others.
Under the Investment Order in the NCIP, 208 projects totaling 2.3 trillion tenge are included in sectors such as oilseed processing, deep grain processing, meat processing, milk processing, and processing of hides and wool, in line with the priorities of the Ministry of Agriculture.
Significant projects include the construction of Atameken-Agro oil extraction plant (41 billion tenge), Qostanai Grain Industry grain processing plant (50 billion tenge), Nurym Group meat processing plant (17.6 billion tenge), Seven Rivers milk processing plant (7.4 billion tenge), a workshop for processing hides and wool (5.4 billion tenge), and others.
Thus, the Holding will continue its work on economic diversification in its new status as an Investment Holding.
