Klaus Mangold: Baiterek Holding is a key tool for the development of the country

Klaus Mangold, Independent Director of Baiterek Holding, tells about the Holding’s role in the post-pandemic period and how important it is for Kazakhstani companies to comply with international ESG standards and implement Sustainable Development Goals. 

- Dr. Mangold, what role do you think Baiterek Holding is playing in the post-pandemic period?

- Considering that the mission of Baiterek Holding is to contribute to the development of the country by delivering financial instruments under the government’ strategy, the role of the Holding, taking into account the merger of KazAgro Holding, is now even more important than before and we as independent Board members are happy to support it on the side of a strong management. Baiterek Holding should make available financial resources to meet major needs referred to infrastructure, industrial financing, housing, export and agriculture, especially today when many companies still have a need to finance working capital and meet growing demand for products, necessary for the future of the country. Being a key tool for the development of the country, Baiterek Holding has to develop available smart financial products, which are very important, for example, for housing and for projects to support small and medium-sized companies for further export of their products and improvement of their overall position.

- ESG standards and sustainable development are an international trend. How important is it for Kazakhstani companies to comply with these standards?

- A couple of years ago, it was progressive to talk about ESG and sustainability. Today it’s a must as otherwise, you will be isolated in the world, that is more and more conscious about ESG standards and sustainability, labor standards, climate change, and other issues. I believe that we ought to introduce the ESG and sustainability standards to the people and the entrepreneurial environment. In this respect, Baiterek Holding had defined sustainable development as a very important part of its strategy long ago. Today, in many countries, investors are not buying shares or working with companies, which are not complying with the standards of ESG and sustainability. So, Baiterek Holding within negotiations with owners of small and medium-sized companies, should help them in better understanding of these standards, teach them to have an open mind to be able to sell excellent Kazakhstani products abroad. I think this is very important and Baiterek Holding has an opportunity to help its clients and customers apply these ESG standards and sustainability. This is very important, otherwise, many doors will be closed for companies if they don’t comply with the standards.

- What would you like to wish to Baiterek Holding?

- First of all, I would like to wish Kazakhstan stability and leadership to continue its promising and very successful strategy for the future development of the country. I wish Kazakhstan would continue to strengthen its position in the region and be a good business partner for Western companies. With strong management, after the merger of KazAgro Holding, Baiterek Holding will play an even more important role in the future.

- Dr. Mangold, thank you very much for the interesting interview.