07/16/2026
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On June 17 in Almaty, Anna Lukina, Managing Director of JSC National Investment Holding Baiterek, spoke at the first regional summit on sustainable tourism in Central Asia—the Central Asian Sustainable Tourism Annual Summit (CASTAS'26)—which brought together approximately 150 representatives of government agencies, businesses, international organizations, and the expert community from Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan, and Turkmenistan. During her speech, she presented current government support tools for tourism projects and outlined the most promising areas for investors.
According to Anna Lukina, government support for tourism is driven by the industry's high economic impact. Investments in tourism infrastructure provide a multiplier effect for the economy: they stimulate the development of transport, trade, and services, help attract foreign exchange earnings from inbound tourism, and create new jobs in the regions.
"For Kazakhstan, state support for tourism is particularly relevant, as tourism infrastructure in many regions is still in its infancy, while the country possesses significant natural, cultural, and historical potential," emphasized Anna Lukina.
The state views tourism as a tool for economic diversification, along with logistics, manufacturing, and digital technologies. The industry's development is facilitating the emergence of economic growth centers around tourist hubs such as Turkestan, the Shchuchinsk-Borovsk resort area, the Mangistau tourist zone, and Alakol.
The speaker presented the financial instruments available to investors through the subsidiaries of the Baiterek holding company. The Development Bank of Kazakhstan provides medium- and long-term financing for up to 20 years with a minimum loan amount of 7 billion tenge. Starting in 2025, investment projects within the holding company will be financed at a flat rate of 12.6% per annum in tenge for end borrowers.
The Industrial Development Fund supports infrastructure projects, including the construction of tourism infrastructure and the acquisition of light aircraft. The Damu Entrepreneurship Development Fund offers guarantee instruments for small, medium, and large businesses: for projects worth up to 7 billion tenge, the guarantee can reach 85% of the financing amount, and for larger projects, up to 30% for a term of up to 20 years.
Responding to a question about financing glamping sites and visitor centers on national park lands, Anna Lukina noted:
"We are ready to consider and structure such projects. If the collateral is insufficient, the Damu Fund's guarantee instruments and the insurance mechanisms of the Export Credit Agency of Kazakhstan can be used. They help secure financing even in cases where your own funds are insufficient."
Concluding her presentation, Anna Lukina recommended that investors pay special attention to projects with year-round occupancy, as they are less susceptible to seasonal risks and provide a faster return on investment. Among the most promising areas, she named three- and four-star hotels and aparthotels, family entertainment complexes, water parks, eco-resorts, glamping sites, and ski resorts.
"Baiterek Holding is open to dialogue and ready to assist with financing, project structuring, and attracting investors and partners," concluded Anna Lukina.
To date, with the support of Baiterek Holding's subsidiaries, major tourism projects worth over 297 billion tenge have been and are being implemented.
Reference:
Baiterek National Investment Holding JSC is a development institution that implements state economic policy. The holding unites key development institutions in Kazakhstan and provides support for entrepreneurship, finances investment projects, and promotes exports, industry, housing construction, and other priority sectors of the economy.
