President Tokayev reviews Baiterek Holding's strong performance and digital transformation plans

President Tokayev reviews Baiterek Holding's strong performance and digital transformation plans

President Tokayev met with Nurlan Baibazarov, Chairman of the Board of Baiterek Holding, to discuss the holding’s performance during the first nine months of 2023, particularly in relation to supporting entrepreneurship, the agricultural sector, and real estate construction.

During the meeting, President Tokayev was presented with key data indicating that the funding of investment projects had reached 511 billion tenge. Additionally, approximately 18.1 thousand small and medium-sized businesses received loans totaling nearly 1 trillion tenge, while financial support for the agricultural sector amounted to 447 billion tenge. Furthermore, over the nine-month period, 811.2 thousand square meters of real estate were completed, providing new housing for about 47 thousand families.

The President was also briefed on the steps being taken to modernize and digitize Baiterek Holding. Over the next two years, the holding aims to double its support for the non-resource sector of the economy. This includes intensified efforts to attract investment and involve commercial banks in financing manufacturing industry projects.

To bolster the domestic market and enhance the export potential of the agricultural sector, programs for financing food industry projects will be initiated, and a comprehensive export credit agency will be established.

In line with the President's directives, the holding’s housing division will be revamped to address the housing needs of residents in single-industry towns, regional centers, and villages.

Nurlan Baibazarov also outlined plans to transition all services of the holding's subsidiaries into a digital format.

Concluding the meeting, President Tokayev underscored the significance of adopting innovative approaches to stimulate economic growth and enhance citizens' quality of life. He also set forth a series of tasks to enhance the performance of Baiterek Holding.

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