An article of the Chairman of the Management Board of "National Managing Holding "Baiterek" JSC Aidar Arifkhanov was published in the regular issue of the Turkish business magazine DUNYA, dedicated to the achievements of Kazakhstan economy and business cooperation of the two countries. The main topic of the analytical review was the results of the company activity as the main economic development institution of Kazakhstan, as well as creation of a comfortable investment environment for potential partners.
Turkey is one of the most important economic partners of Kazakhstan. Our countries have built trust relationships for two and a half decades based on mutually beneficial and respectful cooperation. Thanks to the personal contribution of the states’ leaders – Presidents Nursultan Nazarbayev and Recep Tayyip Erdogan – Kazakh-Turkish friendship brings evident benefits to the economies of both countries. “Baiterek” Holding, being a key financial institution of the Government of the Republic of Kazakhstan, as well contributes to the strengthening of this effective cooperation.
Head of the state Nursultan Nazarbayev set a specific mission to our Company – promote sustainable economic development of Kazakhstan. Therefore, the activity of “Baiterek” Holding and its 11 portfolio companies, with total assets of 11 billion euros and a capital of more than 2.7 billion euros, are focused on the number of strategic areas.
First of all, this is support for large, as well as small and medium enterprises. By means of “Development Bank of Kazakhstan” JSC mechanisms the Holding financed large enterprises working in non-oil and gas areas for the amount of 1.07 billion euros in 2017. In turn, the volume of loans granted to small and medium enterprises over the same period through our subsidiary – “Damu” Entrepreneurship Development Fund – amounted to 1.4 billion euros.
Secondly, promotion of export potential. The total volume of goods exported by the enterprises supported by the Holding through the Development Bank of Kazakhstan and “Export Insurance Company “KazakhExport” JSC amounted to 2 billion euros for 2017.
Third, housing financial affordability providing. The Holding participates in construction of credit housing, provides preferential mortgage loans and subsidies for the developers through the subsidiary Zhilstroysberbank. Following the results of 2017, the bank became the leader in the mortgage market of Kazakhstan, having issued 76% of all the mortgage loans in the country.
Fourthly, transfer and introduction of innovations. The volume of innovative products manufactured by the enterprises supported by one another Portfolio Company of the Holding – “National Agency for Technological Development” JSC (NATD) – amounted to 121.4 million euros last year.
In addition, currently “Baiterek” Holding is actively working with the investors and business community to find, attract and support the investment projects. Under the special state program, we are doing a lot of work to digitize this activity through our Digital Baiterek Portal (http://digital.baiterek.gov.kz), by means of which you can register as an investor and get the necessary information about the specific investment proposals by means of “Projects Portfolio” service. Also at the end of June we launched our updated official website www.baiterek.gov.kz, fully focused on comprehensive information for potential investors providing.
In turn, Turkey has great experience and practice in construction, agriculture, tourism, entrepreneurship, food production, and social infrastructure management projects implementation. Therefore, we are interested in further attracting of Turkish business to Kazakhstan for the implementation of new joint projects. Moreover, the basis for our fruitful activity already exists.
For example, the Memorandum of Understanding between “Damu” Fund and the State Organization for the Development and Support of Small and Medium Enterprises of Turkey KOSGEB has been in the effect for many years. Long-term cooperation includes exchange of specialists, training of Kazakh entrepreneurs in Turkey, creation of an interactive platform for business partners search.
In addition, the experience of Turkey was embedded in the multi-profile hospital construction in Almaty project, which was jointly started to be implemented by “Kazakhstan Project Preparation Fund” LLP (a subsidiary of the Holding) and European Bank for Reconstruction and Development. For this purpose, the Managers of the Holding consulted with our Turkish partners, including on the issue of direct participation of Turkish companies in the complex establishment.
Now the NATD is building up cooperation with the Council of Turkey on scientific and technical research. The main field of work is a system of technology transfer. It is planned to hold joint seminars on the issue of the intellectual property protection, search for technological solutions and their further practical implementation under this system.
In general, “Baiterek” Holding is ready to act as a reliable partner in business initiatives between our friendly countries. Over the five years of our company activity, we have managed to gain a great experience of joint work with the Turkish party. Based on a positive practice, we intend to continue increasing the pace of the effective cooperation.