ASTANA, Kazakhstan, June 3. At a recent government meeting, Rustam Karagoshin, Chairman of the Board of Baiterek Holding, presented measures to support Kazakhstan’s domestic production, Trend reports.
Karagoshin highlighted a joint initiative with the National Wealth Fund Samruk-Kazyna aimed at injecting 8 trillion tenge ($15.7 billion) into the economy by securing offtake contracts that guarantee stable purchases for local manufacturers.
This effort prioritizes the use of domestic products to reduce import dependence and develop the country’s industrial capacity, especially within the framework of the national project for modernizing energy and utility infrastructure.
The modernization project involves replacing and upgrading critical, outdated energy and communal infrastructure facilities. To ensure a stable supply, procurement is planned mainly from domestic producers, including borrowers within the Baiterek group, thus providing offtake contracts for Kazakh enterprises.
In 2024, support measures helped launch 33 industrial projects worth 345.5 billion tenge ($677 million), including facilities for oil extraction, production of volumetric blocks, tires, household appliances, and cast iron. In 2025, new projects are set to begin producing alkylate, paper, sodium cyanide, and soda ash.
Significant backing is also being provided to the transport sector. Through the Industrial Development Fund, 15 domestic manufacturers of railcars, buses, and special machinery received support totaling 1.1 trillion tenge ($2.1 billion), enabling the sale of 26,600 units of equipment. KazAgroFinance helped update over 88,000 units of agricultural machinery, with 17,100 units financed at 393.8 billion tenge ($771 million).
Karagoshin emphasized the importance of procurement commitments, noting that in 2024, companies supported by Baiterek purchased goods, works, and services totaling 30 billion tenge, with 99% of these procured from domestic producers—a significant increase compared to 14% in 2023.
As part of the ongoing initiative to channel 8 trillion tenge ($15.7 billion) into the economy, procurement of goods, works, and services is planned to reach at least 1.2 trillion tenge ($2.3 billion) this year.
