Baiterek Expands Support for Entrepreneurs in the Tourism Sector

From September 24 to 26, Aktau is hosting the International Tourism Forum, which brings together representatives of government agencies, financial institutions, businesses, and international organizations. During plenary and panel sessions, participants discussed the industry’s investment potential, infrastructure development, medical and event tourism, as well as new opportunities for small and medium-sized businesses.

Deputy Chairman of the Management Board of ‘Baiterek’ National Managing Holding Jandos Shaikhi spoke at the forum’s plenary session, presenting the Holding’s tools for financing projects in the tourism sector. According to him, Baiterek has already financed projects with a total value exceeding 297 billion tenge, while a pipeline of projects worth more than 630 billion tenge is currently under review.

As part of the forum, a Memorandum of Cooperation was signed between ‘Baiterek’ National Managing Holding and the Mangystau Region Akimat to implement a regional territorial program. The document outlines the parties’ commitment to developing micro, small, and medium-sized businesses in the region’s tourism industry and provides for joint measures to finance entrepreneurs through second-tier banks.

“We see significant potential for business growth in the Mangystau region. The signed Memorandum will allow entrepreneurs to access financing, expand production, and create new jobs. Baiterek is ready to be a reliable partner in developing the region’s tourism sector,” noted Jandos Shaikhi.

The key mechanism for implementing the agreement will be the preferential lending program Orleu, operated by the Damu Entrepreneurship Development Fund. The program provides for:

• loans for investment projects of up to 7 billion tenge;
• financing of working capital of up to 3.5 billion tenge;
• a remuneration rate not exceeding 12.6% per annum;
• a term of up to 10 years for investments and up to 3 years for working capital.

The program covers priority sectors, including tourism, and is aimed at developing the hotel industry, creating new tourist services, and improving service quality.

The cooperation between the Holding and the Mangystau Region Akimat will enable entrepreneurs to play a more active role in tourism development, implement new projects, and thereby enhance the region’s attractiveness as a tourist destination.

Entrepreneurs can receive consultations at the Mangystau regional branch of the Damu Fund located at: Aktau, 13th microdistrict, building 55, or by phone at +7 (7292) 70 10 51.