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"Baiterek" holding presented support tools for pharmaceutical companies

"Baiterek" holding presented support tools for pharmaceutical companies

The Baiterek National Managing Holding together with the Agency of the Republic of Kazakhstan for the Protection and Development of Competition held an online meeting on the support of pharmaceutical companies. The event was attended by Deputy Chairman of the Agency for the Protection and Development of Competition Marat Omarov, Deputy Chairman of the Board of the Baiterek holding Rustam Karagoishin, as well as representatives of the Holding, its subsidiaries and pharmaceutical companies.

During the meeting, the Holding's business support tools were presented and issues of protecting competition in the pharmaceutical industry were discussed.

Marat Omarov made an introductory speech. He noted that the government agency faces the task of not only dealing with price regulation, but also developing competition in this product market, ensuring the availability of quality services, primarily through localization.

- Like any business, it is a complex business that requires concessional loans and investments. We have a financial development institution - the Baiterek holding with its subsidiaries and unique support instruments, which provides real support. Therefore, we wanted to act as a “bridge” and hold an introductory meeting so that representatives of the Baiterek holding and its subsidiaries would tell about the available support tools. For their part, domestic pharmaceutical companies will talk about their plans and opportunities, as well as about the difficulties they face. During a pandemic, such cooperation is especially important , - explained Marat Omarov .

In turn, Rustam Karagoishin told the participants about the activities of subsidiaries that support large, medium and small businesses.

- The main mission of the Baiterek holding is to diversify and develop domestic production, that is, our Holding is the main instrument of the Government to modernize the country's economy, - noted Rustam Karagoishin .

Representatives of the Holding's subsidiaries spoke in more detail about their support tools. Also, participants from the pharmaceutical industry were able to ask their questions and get answers to them.

Meanwhile, as the organizers of the event noted, the dialogue will continue offline, the participants will be able to consult on issues of interest with representatives of the Baiterek holding, as well as offer their projects and ideas for support.

It should be noted that the group of companies of the Baiterek holding has supported more than 110 projects in the field of drug production for a total amount of over 33 billion tenge. For these projects, the following instruments were provided: concessional lending, interest rate subsidies, guarantees and insurance of export credits.

More detailed information on measures to support the Holding and its subsidiaries is given in the presentation, which can be download here.

For reference:

National Management Holding Baiterek JSC created in accordance with the Decree of the President of the Republic of Kazakhstan dated May 22, 2013. A key institution of the Government of the Republic of Kazakhstan, which complies with the advanced standards of corporate governance and ensures the implementation of tasks for the sustainable development of the economy of Kazakhstan by diversifying it, supporting innovation, developing exports, and increasing labor productivity. The Holding includes: "Development Bank of Kazakhstan" JSC, "Damu" Entrepreneurship Development Fund" JSC, "Otbasy Bank" JSC, "IO "Kazakhstan Mortgage Company" JSC, "KazakhExport Export Insurance Company" JSC, "Kazakhstan Investment Fund" JSC , "QazTech Ventures" JSC, "Kazyna Capital Management" JSC, "Kazakhstan Project Preparation Fund" LLP.

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