Baiterek National Holding Achieves Stellar Performance and Unveils Ambitious 2024 Plans
Baiterek National Management Holding Achieves Remarkable Milestones and Outlines Ambitious Plans for 2024
ASTANA — Nurlan Baibazarov, the Chair of Baiterek National Management Holding, recently presented the impressive achievements of the holding in 2023 and discussed ambitious plans for the year ahead during a meeting with President Kassym-Jomart Tokayev on Jan. 31, as reported by the Akorda press service.
Baiterek National Holding plays a vital role in Kazakhstan’s economic development, managing a diverse portfolio of investments and initiatives aimed at strengthening entrepreneurship, supporting the agricultural sector, and addressing housing needs across the nation.
During the meeting with President Tokayev, Baibazarov highlighted the significant growth of Baiterek’s assets by 12% and a substantial 10% increase in the investment and loan portfolios. The holding also reported a net profit exceeding 400 billion tenge ($890.6 million), marking a remarkable 7% increase over the previous year.
Baibazarov emphasized Baiterek’s pivotal role in advancing the real sector of the economy, with substantial investments in large-scale projects and leasing transactions. Additionally, the holding invested 554.7 billion tenge ($1.2 trillion) into the agro-industrial complex, demonstrating strong support for the vital agricultural sector.
In response to environmental challenges, Baiterek extended assistance to over 1,000 farmers affected by adverse weather conditions, allocating 48 billion tenge ($106.8 million) for relief efforts. The holding also addressed housing needs, with over 2 million square meters of housing brought into operation in 2023, supported by investments of 317.6 billion tenge ($707.2 million).
Looking ahead to 2024, Baibazarov outlined plans for investments of 370 billion tenge ($824 million) in agricultural projects and the creation of over 4,000 new jobs. The holding aims to spearhead initiatives in financing the manufacturing and tourism industries, as well as the construction of waste processing and sorting plants. Additionally, the initiation of the 9-20-25 housing program, catering to individuals aged 35 years and younger, demonstrates Baiterek’s dedication to addressing housing affordability issues in Kazakhstan.
President Tokayev stressed the importance of adopting an integrated approach to drive economic growth and enhance citizens’ quality of life. He issued directives to strengthen Baiterek’s efforts to diversify the economy and foster the development of strategically important industries.
Overall, Baiterek National Management Holding has made significant strides in 2023 and is poised to continue its impactful contributions to Kazakhstan’s economic development in the year ahead.
