Kazakh PM Bektenov urges Baiterek Holding to funnel funds in priority economic sectors
Kazakh Prime Minister Olzhas Bektenov chaired a meeting of the Board of Directors of the Baiterek National Management Holding, Kazinform News Agency cites the press service of the Kazakh government.
The meeting focused on the outcomes of the work carried out and the plans of the Holding on further supporting the manufacturing sector of the economy.
The Baiterek National Management Holding and its subsidiaries funded 4.6 thousand projects for 1.6 trillion tenge in the manufacturing industry in 2023 and Q1 2024. In total, around four thousand jobs were created as well as services for 15.1 trillion tenge were produced and rendered under the state support measures. So, the project for expanding the capacity of the poultry farm in Akmola region, two enrichment plants in Karaganda and Aktobe regions were commissioned.
It was noted that the manufacturing enterprises that received the support from the Baiterek Holding sold products worth 3.9 trillion tenge, which is 18% of the total manufacturing products, making up 12% of the non-primary exports.
Presently, the Holding funds projects aimed at further import-substitution. Among them, construction of a multi-brand plant for production of vehicles with creation of around 2.2 thousand jobs by 2025, a plant for production of tires with creation of around 1.1 thousand jobs and with a capacity of three million tires for vehicles and 500 thousand for trucks in Saran town, as well as construction of a plant for production of sodium cyanide creating 300 new jobs and producing 30 thousand tons of sodium cyanide a year by 2025.
The Holding also works on additional programs taking into account the tasks set to increase the manufacturing output.
The potential of the Baiterek Holding and all of its subsidiaries is to be actively harnessed to stimulate economic growth. The leadership needs to promptly make decisions on funneling funds in the economy. Ambitious tasks on achieving a serious GDP growth, especially in the priority areas, are set before us. It is necessary in a dynamic way, said Bektenov.
Following the meeting, the Board of Directors approved the Consolidated report for the 1st quarter of 2024. In addition, attention was placed on tightening control over spending of allocated funds.
