ASTANA, Kazakhstan, March 4. Kazakhstan will increase the capital of Baiterek Holding by 1 trillion tenge (over $2 billion), with investments directed toward the creation of new projects, Deputy Prime Minister and Minister of National Economy Serik Zhumangarin announced, Trend reports.
Speaking at a government meeting, Zhumangarin outlined planned measures to accelerate economic growth in the current year.
According to him, the government will significantly boost funding for the real sector of the economy this year and in the coming years. In particular, the capital increase for Baiterek Holding will enable the financing of projects worth 8 trillion tenge (over $16 billion) in 2025.
"These investments will support the development of new projects across the country, leading to an expansion of manufacturing capacities and the creation of high-productivity jobs," Zhumangarin stated.
He further emphasized that Baiterek Holding’s support for businesses goes beyond increased financing, as it also involves the introduction of new financial instruments to enhance economic growth.
Meanwhile, the country's Baiterek Holding plays a key role in implementing several industry development initiatives, including the Manufacturing Industry Development Concept (2023-2029), the Small and Medium-Sized Enterprise Development Concept (until 2030), the Housing and Communal Infrastructure Development Concept (2023-2029), and the Agro-Industrial Complex Development Concept (2021-2030).