Baiterek Holding participates in Central Asia + Japan business forum

Usen Galym, Deputy Chairman of the Board at Baiterek Holding, took part in the Central Asia + Japan business forum. This event brought together over 450 participants, including senior executives from major companies like Toyota Tsusho Corporation, Mitsubishi Heavy Industries EMEA, Ltd., and Mitsui & Co., Ltd., as well as scientists and experts.

The forum explored the potential for deepening economic ties and expanding cooperation between Central Asia and Japan. Discussions focused on digitalization, transport and logistics, agro-industry, and heavy industry.

In his address, Usen Galym emphasized the strategic importance of Kazakh-Japanese economic relations and highlighted Baiterek Holding’s role as a cornerstone of Kazakhstan’s development. He also noted that Japan is a major foreign investor in Kazakhstan, with investments totaling over $8 billion.

"Baiterek Holding is committed to creating a favorable business environment in Kazakhstan by financing priority sectors of the economy through its subsidiaries. A key player in this effort is the Development Bank of Kazakhstan, which provides medium- and long-term financing for large-scale industrial projects," stated Usen Galym.

The Deputy Chairman of the Board also highlighted the successful collaboration between the Development Bank of Kazakhstan and Japanese financial institutions, including the Japan Bank for International Cooperation and Sumitomo Mitsui Banking Corporation. This partnership has facilitated the implementation of critical infrastructure projects, such as the expansion of the Aktau Sea Port and the construction of a gas turbine power plant at the Akshabulak field.

Special emphasis was placed on the contributions of Baiterek Holding’s subsidiaries. The Industrial Development Fund plays a vital role in supporting leasing and import substitution projects. Together, the Development Bank of Kazakhstan and the Industrial Development Fund have provided $1.5 billion in financing for large-scale projects.

Additionally, Usen Galym underscored the achievements of the Qazaqstan Investment Corporation (QIC), which attracts international capital to Kazakhstan’s non-resource sectors by creating direct investment funds. QIC has successfully implemented 13 projects, totaling over $72 million.

Baiterek Holding actively bolsters Kazakhstan’s export potential through the Export Credit Agency of Kazakhstan, which financed 115 exporters with $1.6 billion in 2023. It significantly contributed to the growth of the non-resource sector of the economy.

A key area of collaboration with Japan is the agro-industrial complex. In 2023, Baiterek Holding’s subsidiaries, namely the Agrarian Credit Corporation and KazAgroFinance, allocated $1.2 billion to finance agricultural projects, representing 63% of the total financing for Kazakhstan’s agro-industrial sector.

Concluding his speech, Usen Galym reaffirmed Baiterek Holding's commitment to being a trusted partner for business ventures. He invited representatives from Japanese and Central Asian businesses to take advantage of Baiterek Holding’s resources to pursue joint projects in agriculture, manufacturing, infrastructure, and export operations.