During a government meeting, Nurbolat Aidapkelov, Acting Chairman of Baiterek Holding, elaborated on the implementation of state support for manufacturing industry projects.
Baiterek Holding extends its support to various sectors of the economy, including manufacturing.
According to Nurbolat Aidapkelov, Baiterek Holding has provided financing for 34 projects totaling 468.4 billion tenge in the first eight months of 2023. These projects spanned machine-building, construction, chemical, food, agricultural, and light industries.
"In the scope of the holding's subsidiaries, the Development Bank of Kazakhstan funded 17 projects amounting to 358 billion tenge, while the Industrial Development Fund financed 16 projects totaling 109.4 billion tenge. Additionally, the Agrarian Credit Corporation supported one project with 97 million tenge, and Qazaqstan Investment Corporation's funds are currently being allocated," explained Nurbolat Aidapkelov.
Overall, the holding has attracted 621.5 billion tenge in state support funds this year. This includes 103.8 billion tenge through the Development Bank of Kazakhstan, 482.2 billion tenge through the Industrial Development Fund, and 35 billion tenge through Qazaqstan Investment Corporation.
Aidapkelov also highlighted the President's directive, as outlined in his message to the people of Kazakhstan titled "Economic Course of Fair Kazakhstan," which emphasizes the accelerated development of the processing sector. In response, Baiterek Holding, alongside its subsidiary organizations, will continue to provide financial support to manufacturing industry projects.
"The Development Bank of Kazakhstan has approved financing for 20 projects totaling 476 billion tenge, the Entrepreneurship Development Fund has backed 14 projects with 160.9 billion tenge, the Agrarian Credit Corporation has supported two projects with 2.7 billion tenge, and Qazaqstan Investment Corporation has allocated 8 billion tenge for three projects," Aidapkelov stated.
For instance, 91 billion tenge has been allocated for car production by Astana Motors Manufacturing Kazakhstan LLP in Almaty, 17 billion tenge for sodium cyanide production by Talas Investment Company LLP, 2.5 billion tenge for Green Works LLP's milk processing project, and 4.9 billion tenge for Kazakhstan Hot-Dip Galvanizing Plant LLP in Saran (Karaganda Region).
Additionally, several dozen projects are currently at various stages of consideration within the holding's subsidiary companies. The Development Bank of Kazakhstan is considering a total financing amount of 1.5 trillion tenge for 42 projects, the Industrial Development Fund is evaluating 266.2 billion tenge for 37 projects, and Qazaqstan Investment Corporation is assessing 41.4 billion tenge for 16 projects.
"Thus, in line with the mission to promote manufacturing industry development, the holding must become a proactive financial operator implementing projects in emerging sectors," Aidapkelov emphasized.
To enhance efficiency, the Industrial Development Fund is in the process of establishing representative offices in four regions: Atyrau, Shymkent, Semey, and Kostanay.
Previously, Prime Minister Alikhan Smailov announced the creation of the Military-Industrial Development Fund to support domestic enterprises by the end of this year.