Olzhas Bektenov: Baiterek should immediately decide on financial injections into priority sectors of the economy

A meeting of the Board of Baiterek National Mangement Holding JSC was held under the chairmanship of Prime Minister Olzhas Bektenov.

The meeting discussed the results of the work carried out and the holding’s plans to further support the production sector of the economy.

Baiterek NUH together with its subsidiaries financed PLN 4.6 thousand at the end of 2023 and in the first quarter of 2024. projects in the production industry worth 1.6 trillion tenge. In total, approximately 4,000 new jobs were created as part of state support activities and services worth 15.1 trillion tenge were produced and provided. Therefore, as part of the project to increase the efficiency of poultry farms in the Akmola region, two processing plants were commissioned in the Karaganda and Aktobe regions.

It was recorded that the supported processing industry enterprises sold products worth 3.9 trillion tenge, which constitutes 18% of the total volume of industrial production. Their share in exports other than raw materials is 12%.

So far, financial assistance has been provided to projects aimed at further import substitution. These include the construction of a multi-brand passenger car production plant, which will produce approx. 2,200 cars by 2025. jobs. A tire production plant will be built in the city of Saran, with approximately 1.1 thousand. jobs, and the capacity of 3 million tires for passenger cars and 500 thousand for trucks. Support was also given to the construction of a sodium cyanide production plant, where by 2025 300 new jobs will be created and the production of 30,000 units will be launched. tons of sodium cyanide per year.

In addition, additional holding company programs are being developed that are aimed at increasing the volume of the manufacturing industry.

“We are now actively using the potential of Baiterek Holding and all its subsidiaries to stimulate economic growth. The management board must make decisions very quickly about energizing the economy. We have ambitious tasks ahead of us to achieve serious GDP growth in priority sectors. This is necessary for dynamic work,” – Olzhas Bektenov emphasized.

Following the results of the meeting, the Board of Directors approved the Consolidated Report for the first quarter of 2024. Moreover, attention was paid to strengthening control over the purposefulness of spending funds.

#Olzhas Bektenov #Prime Minister of the Republic of Kazakhstan #Manufacturing industry