Screen Reader12/19/2024
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Prime Minister of Kazakhstan Olzhas Bektenov chaired a meeting of the Board of Directors of Baiterek National Management Holding.
The Prime Minister was briefed on the Holding’s investment and financial activities, as well as its subsidiaries' efforts to introduce new support measures for domestic producers as part of state programs.
Rustam Karagoishin, Chairman of the Board of Baiterek Holding, presented a program aimed at financing the working capital of food industry enterprises. This initiative will offer domestic manufacturers short-term financial solutions, such as commodity lending and factoring, specifically for processors in the agro-industrial sector. The program is expected to increase working capital for existing production facilities and create opportunities to establish new enterprises.
The Holding’s subsidiary, Agrarian Credit Corporation, launched a pilot project called "Splitting the Remuneration Rate" to support crop production. Under this scheme, farmers receive preferential financing, with the remuneration rate subsidized by goods suppliers rather than through state budget funds. If successful, the project will be expanded nationwide, using the example of FOODGRAIN LLP.
In addition, the Holding is developing material.kz website for purchasing building materials. The platform is expected to increase price transparency in the construction materials market. Currently, 217 domestic manufacturers and suppliers are registered on the website, offering 614 categories of goods.
Enterprises financed by Baiterek Holding must allocate at least 30% of their funding for the purchase of Kazakhstani-made equipment and materials. Prime Minister Bektenov instructed the Holding to increase this percentage.
“We will continue to promote economic patriotism. Each project must be reviewed thoroughly to ensure that recipients of state financing purchase equipment, materials, and other goods from Kazakhstani producers. The share of Kazakhstan-made equipment must be increased,” Bektenov stated.
The Prime Minister also directed the Holding’s leadership and relevant ministries to enhance the efficiency of existing support measures for domestic producers and to improve communication with businesses regarding available support.
At the meeting, the Board of Directors approved Baiterek Holding's 2023 Annual Report, 2014-2023 Development Plan Implementation Report, and several other documents.
Background information: In the past year and a half, the subsidiaries of Baiterek National Managing Holding have provided financing to domestic producers, totaling 1.2 trillion tenge. Leasing financing was extended to 27 Kazakhstani producers, facilitating the sale of approximately 22,000 units of transport equipment worth 677.5 billion tenge. Additionally, the Development Bank of Kazakhstan purchased goods and services totaling 181.2 billion tenge, with domestic producers contributing 106.3 billion tenge. The Export Credit Agency assumed obligations of 466.9 billion tenge, leading to export revenues of 860 billion tenge. Furthermore, the Qazaqstan Investment Corporation supported nine projects with 26 billion tenge.
Источник: primeminister.kz
