Kazakhstan eyes strong economic growth with major investment projects in 2025

A meeting of the Kazakh Headquarters for Economic Growth focused on the key economic indicators and investment projects of Baiterek Holding took place on Thursday under the chairmanship of Deputy Prime Minister – Minister of National Economy Serik Zhumangarin.

As was noted, Baiterek Holding is set to funnel around 8 trillion tenge to prop up entrepreneurship, housing construction as well as implement key national and investment projects thanks to the Government’s decision to raise the capital of Baiterek Holding by 1 trillion tenge.

Speaking at the meeting, Zhandos Shaikhy, Deputy Chairman of Baiterek Holding, said: “The gross value added from the projects set to be put into operation this year through Baiterek will be at 521.5 billion tenge”.

Shaikhy went on to add that to date, Kazakhstan Development Bank offers an investment pool of 66 projects worth 2.2 trillion tenge, with a majority of investments in transport, logistics and communication (34%), metallurgy (19%), chemical industry (12%). The impact of these investments is expected to contribute 37.8 trillion tenge to the country’s GDP.

Kazakhstan’s Industrial Development Fund has 181 investment projects for 1.5 trillion tenge, set to generate 19.4 trillion tenge in total economic contribution.

Qazaqstan Investment Corporation eyes 10 investment projects worth nearly 500 billion tenge this year, with total economic impact of 2.8 trillion tenge.

Agrarian Credit Corporation provided financing worth 363 billion tenge to around 6,000 farmers as of this May.

Following the meeting, Deputy Prime Minister Zhumangarin pointed to the shortage of investment projects in the Simple Things Economy program, needed to meet the strong domestic demand as well as curb inflation.

As earlier reported, Kazakhstan seeks to raise the capital of its Baiterek Holding as well as ways to incentivize funding for lending.