In a strategic move to foster the growth of micro, small, medium, and large businesses, various subsidiaries of the National Managing Holding “Baiterek” are implementing a suite of support initiatives.
According to a source within the holding, substantial support for large businesses is provided by “Development Bank of Kazakhstan,” offering long-term credits for manufacturing and infrastructure investment projects, along with pre-export financing.
Simultaneously, “Industrial Development Fund,” as the principal operator of the Manufacturing Development Concept, extends support through leasing and project financing for manufacturing projects.
Under the purview of “Qazaqstan Investment Corporation,” support is channeled towards entities in the processing industry through equity and mezzanine financing.
Furthermore, for small and medium-sized enterprises, “Entrepreneurship Development Fund ‘Damu'” offers support via subsidy tools, guarantees, and concessional lending.
Highlighting major projects approved in 2023, a source mentioned the financing project for the construction of a gas processing plant with a capacity of 1 billion cubic meters. The aim is to enhance oil extraction at the Kashagan field by establishing new facilities for processing associated petroleum gas generated during oil extraction. Beyond economic and social benefits, the project is poised to improve the ecological situation in the Atyrau region, where intensive oil extraction with associated gas flaring and back gas injection is prevalent.
The source also emphasized projects geared toward enhancing Kazakhstan’s food security, including the construction of a greenhouse complex with an annual tomato production capacity of 23,290 tons, a closed-cycle poultry complex producing and processing broiler meat with a capacity of 460 thousand eggs per month, and the production and sale of unrefined sunflower oil with a capacity of 1000 tons per day.
In a groundbreaking move for Kazakhstan, plans are underway to launch home appliance manufacturing in the city of Saran with an annual production volume of up to 1.1 million units. This project is anticipated to improve the socio-economic indicators of the Karaganda region and facilitate the production of affordable household appliances.
Notably, during the first nine months of 2023, “Baiterek” Holding financed investment projects totaling 511 billion tenge (approximately $1.11 billion USD), supporting 18.1 thousand small and medium-sized business projects with credits totaling around 1 trillion tenge (approximately $2.17 billion USD). Financial support for the agricultural sector amounted to 447 billion tenge (approximately $973 million USD). Stay tuned for more updates from FCHAIN Corporation.
