Baiterek National Holding Reports Stellar Performance and Ambitious Plans for 2024

ASTANA — The Chair of Baiterek National Management Holding Nurlan Baibazarov presented remarkable achievements of the holding in 2023 and discussed ambitious plans for the year ahead with President Kassym-Jomart Tokayev during a Jan. 31 meeting, Akorda press service reported. 

The Chair of Baiterek National Management Holding Baibazarov discussed plans for the year ahead with President Tokayev during a Jan. 31 meeting. Photo credit: Akorda press service.

Baiterek National Holding stands as a cornerstone of Kazakhstan’s economic development, overseeing a diverse portfolio of investments and initiatives aimed at bolstering entrepreneurship, supporting the agricultural sector, and addressing housing needs across the nation.

During the meeting with President Tokayev, Baibazarov said that Baiterek’s assets surged by an impressive 12%, while the investment and loan portfolios experienced a substantial 10% growth. Notably, the holding’s net profit exceeded 400 billion tenge ($890.6 million), marking a remarkable 7% increase over the previous year.

Baibazarov outlined key achievements, emphasizing Baiterek’s pivotal role in advancing the real sector of the economy. The holding exceeded planned targets for financing large-scale projects and leasing transactions by 24%, demonstrating its robust commitment to driving economic growth. Moreover, substantial investments worth 554.7 billion tenge ($1.2 trillion) were invested into the agro-industrial complex, underscoring Baiterek’s support for the vital agricultural sector.

Baibazarov also reported that in response to environmental challenges, the national holding extended assistance to over 1,000 farmers affected by adverse weather conditions, allocating 48 billion tenge ($106.8 million) for relief efforts. The holding’s efforts also addressed housing needs, with over 2 million square meters of housing brought into operation in 2023, supported by investments of 317.6 billion tenge ($707.2 million). 

According to Baibazarov, Baiterek’s plans for 2024 include investments of 370 billion tenge ($824 million) in agricultural projects and the creation of over 4,000 new jobs. The holding aims to spearhead initiatives in financing the manufacturing and tourism industries and the construction of waste processing and sorting plants. The initiation of the 9-20-25 housing program, catering to individuals aged 35 years and younger, demonstrates Baiterek’s dedication to tackling housing affordability issues in Kazakhstan.

President Tokayev underscored the importance of adopting an integrated approach to drive economic growth and enhance citizens’ quality of life. He issued directives to strengthen Baiterek’s efforts to diversify the economy and foster the development of strategically important industries.

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