Kazakhstan's Baiterek outlines new strategy as portfolio reaches $30.5bn

Kazakhstan's state-owned Baiterek National Managing Holding has unveiled a new long-term strategy centered on investment, business growth, and housing, as its investment and credit portfolio has grown to KZT 14.3 trillion ($30.5 billion). The strategy and the holding's performance were reviewed by Kazakhstan's President Kassym-Jomart Tokayev.

Rustam Karaghozhin, Baiterek Chairman, reported during the meeting that the holding's investment and credit portfolio had reached KZT 14.3 trillion ($30.5 billion) and is anticipated to rise to KZT 16.5 trillion ($35.2 billion). The annual net profit of Baiterek, which is Kazakhstan's state investment holding responsible for funding key economic sectors and supporting entrepreneurship, export development, agriculture, and housing through its subsidiaries, remains above KZT 400 billion ($854 million).

The holding projects that its support initiatives will enable 77,500 families to secure housing by the close of 2025, including 11,600 individuals currently on official housing waiting lists.

Last year, Baiterek funded 77 significant investment projects and 27,400 small and medium-sized business projects. It also assisted 131 exporters and supplied 7,200 agricultural producers with 11,400 pieces of agricultural machinery via leasing programs for seasonal farming.

The holding also introduced its updated long-term development strategy, which aims to transform Baiterek into a more proactive investment entity concentrating on effective asset management, private sector expansion, and enhancing living standards. The holding intends to present 26 investment projects to Kazakhstan's Investment Council by year-end, focusing on import substitution, export growth, and infrastructure development.

President Tokayev underscored the necessity of sustaining robust economic growth, drawing in long-term investments, and broadening support for small and medium-sized enterprises, alongside improving housing accessibility nationwide.

Previous reports indicated that Kazakhstan's annual inflation rate decreased to 10.2% in July, while the government continued to expand investment and financing programs to bolster economic growth and domestic development.