ASTANA, Kazakhstan, May 8. The meeting of the
Headquarters on ensuring economic growth of Kazakhstan considered
the main economic indicators and investment projects of Baiterek
Holding Company, Trend reports via the press service of the Prime
Minister of the Republic of Kazakhstan.
"The 8 trillion tenge (approximately $15.2 billion) of the
'Baiterek' holding to support entrepreneurship and implement key
national and investment projects will contribute an additional 1.3
percent to the real GDP growth of Kazakhstan this year," the
government explained.
At the meeting, the Deputy Chairman of the holding, Zhandos
Shaikhy, reported on the results of the allocated funds usage in
the first quarter – 1.2 trillion tenge (approximately $2.3
billion), which exceeds the planned figure of 1 trillion tenge
(approximately $1.9 billion). The gross value added from the
projects put into operation this year, supported by "Baiterek," is
expected to be 521.5 billion tenge (approximately $991
million).
“The largest investment pool of projects is concentrated in the Development Bank of Kazakhstan – 66 projects with financing of 2.2 trillion tenge (approximately $4.18 billion) this year. The main sectors of investment are transport, logistics, and communications (34 percent), metallurgy (19 percent), and the chemical industry (12 percent). The full implementation of all projects is expected to contribute to the country's economy in the form of new productions, goods, and services amounting to 37.8 trillion tenge (approximately $71.8 billion). Investments in fixed capital this year will amount to 1.6 trillion tenge (approximately $3.04 billion),” the statement reads.
Following the meeting, the Deputy Prime Minister noted the
insufficient representation of investment projects under the
"Economy of Simple Things" program – the production of goods in
demand on the domestic market, which can replace expensive imports
and help curb inflation.
“When we initiated the program to support the real sector of the
economy, alongside large projects, the Ministry of National Economy
announced an investment request for projects primarily targeting
SMEs (small and medium-sized businesses) – the establishment of
production for household chemicals, hygiene products, cheeses,
canned goods, sausages, and other products in demand among our
residents. I see that significant progress has been made in poultry
production, and by the end of the year, we should achieve full
consumption coverage. However, in other areas, where there is still
a significant share of imports, we need to find manufacturers and
support these projects,” said Deputy Prime Minister and Minister of
National Economy Serik Zhumangarin.
On April 29, 2025, Kazakhstan’s national managing holding "Baiterek" issued its debut Eurobond with a total amount of $500 million. The term of the securities is three years, with a fixed coupon rate of 5.45 percent.
