Baiterek Holding expands investment cooperation with leading financial institutions of Japan

Chairman of the Board of Baiterek National Managing Holding JSC Rustam Karagoishin held a series of bilateral meetings in Tokyo from December 18 to 20, 2025, as part of the official visit of the President of the Republic of Kazakhstan Kassym-Jomart Tokayev to Japan. The visit was aimed at deepening Kazakh-Japanese investment and financial cooperation, as well as attracting long-term capital to priority sectors of Kazakhstan's economy.

As part of the business program, the Head of the Holding held negotiations with the leadership of key Japanese financial institutions — Sumitomo Mitsui Banking Corporation (SMBC), Mitsubishi UFJ Financial Group (MUFG), Mizuho Bank, Japan Bank for International Cooperation (JBIC), and Nippon Export and Investment Insurance (NEXI).

The meetings were devoted to discussing mechanisms for financing large investment projects, developing project and infrastructure financing, as well as the participation of Japanese partners in implementing initiatives in the fields of sustainable development, energy, industry, and exports.

Special attention during the negotiations was paid to cooperation with JBIC in financing projects in energy, industry, and critical minerals. The parties confirmed their interest in expanding the project portfolio with the participation of Japanese capital and development institutions, as well as in attracting Japanese companies to create sustainable value chains.

During the negotiations, Rustam Karagoishin noted that developing partnerships with leading Japanese financial institutions is an important element of implementing Kazakhstan's investment policy:

"Kazakhstan is consistently strengthening its course toward an open economy and attracting foreign investment. Baiterek Holding, combining market instruments with government priorities, ensures capital inflow into key sectors of the economy. Cooperation with Japanese partners allows us to form sustainable financial solutions and launch projects focused on long-term economic growth," he emphasized.

The Japanese side noted Kazakhstan's growing investment attractiveness, the stability of its macroeconomic policy, and the increasing role of Baiterek Holding as a key development institution. Particular interest was expressed in projects in sustainable energy, critical and rare earth materials, agro-industrial complex, transport and energy infrastructure, as well as export and trade financing instruments.

During the visit, Rustam Karagoishin signed documents formalizing the parties' transition to practical implementation of agreements:

1. Memorandum of Cooperation between Baiterek National Managing Holding JSC and MUFG Bank, Ltd. The document provides for cooperation to attract financing of up to 200 billion Japanese yen (1.28 billion US dollars) to support Baiterek Holding's investment program. Cooperation will focus on implementing investment projects in sustainable development and alternative energy, as well as utilizing project and infrastructure financing instruments, capital markets, and export credit support.

The document was signed in the presence of Head of State K. Tokayev.

2. Framework Agreement on Cooperation between the Development Bank of Kazakhstan and SMBC Nikko Securities Ltd. The agreement defines the main directions of strategic interaction, including support for investment projects, development of capital markets, and attracting Japanese institutional investors to finance priority initiatives in Kazakhstan.

3. Memorandum of Understanding between the Export Credit Agency of Kazakhstan and Nippon Export and Investment Insurance (NEXI). The document is aimed at developing cooperation in export lending and trade financing, supporting non-commodity exports, as well as implementing joint projects with the participation of Kazakh and Japanese companies.

During the signing of the memorandum, the parties discussed cooperation within international organizations — the OECD and the Berne Union. It was also noted that in May 2026, Kazakhstan will host participants of the Berne Union — representatives of export credit agencies — in Astana, and in September a similar meeting will be held in Tokyo on the initiative of NEXI.

The visit also discussed initiatives of the Holding's subsidiaries. In particular, the Development Bank of Kazakhstan presented a program for financing projects for the extraction and processing of rare, rare earth, and critical materials for 2025–2030. The Japanese side was offered to consider participation in a specialized investment fund for implementing large projects in this sphere using the experience and technologies of Japanese corporations.

In addition, the Chairman of the Board of the Holding participated in events of the C5+Japan business forum, where key directions for further economic cooperation between Japan and the countries of Central Asia were outlined.

Following the visit, the parties confirmed their readiness to move toward forming joint project pools, deepening institutional cooperation, and practically working out investment initiatives.

Baiterek Holding considers Japan as one of the key strategic partners in Asia and intends to consistently expand cooperation with Japanese financial institutions and corporations within the framework of implementing national investment policy.

Press Service of Baiterek National Managing Holding JSC