Financing for Kazakhstan’s non-resource sector reached KZT 4.09 trillion ($8.2bn) in 2024, marking a 52% increase compared to the previous year. This was announced during a meeting of the Board of Directors of National Management Holding Baiterek, chaired by Prime Minister Olzhas Bektenov.
Chairman of the Board Rustam Karagoishin reported that the support covered approximately 58,000 private companies and organizations outside the quasi-public sector. As a result, more than 6,000 new jobs were created across the regions, while manufacturers produced goods and services valued at KZT 7.3 trillion ($14.6bn). Exports also saw a significant rise, increasing by more than a third to surpass KZT 1 trillion ($2bn).
The meeting also highlighted efforts to support Kazakhstan’s agro-industrial complex. Farmers acquired over 10,500 units of agricultural machinery and equipment through Baiterek Holding’s financial instruments. Additionally, a program was launched to finance spring field and harvesting activities using bond loans on market terms. In the energy sector, three green economy projects received support totaling KZT 14.5bn ($29mn).
A key focus was increasing the share of domestic value in procurement within the Baiterek group of companies. The share of local content in works rose from 97.9% in 2023 to 99.9% in 2024, in services from 94% to 96%, and in goods from 3% to 48%. The total procurement volume for Baiterek Holding last year stood at KZT 54bn ($108mn), with 85% (KZT 46bn ($92mn)) sourced from domestic manufacturers.
Prime Minister Bektenov also emphasized the importance of strengthening economic diversification and expanding local production to sustain long-term growth.
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