Kazakhstan may expand Baiterek’s investment powers
President Kassym-Jomart Tokayev called for a unified system to manage investment attraction and a stronger role for Baiterek Holding. He outlined these priorities in his address, “Kazakhstan’s Current Priorities in a New Historical Cycle,” Qazinform News Agency reports.
The Head of State said global competition for investment is intensifying, requiring Kazakhstan to make decisions and act faster. He noted that the current system for attracting and supporting investors lacks consistency.
“We therefore need to improve an integrated system that enables centralized management of investment attraction. In my view, we must resolve a long-standing issue: designate an organization to handle investment systematically,” Tokayev said.
The President stressed that no unified system currently exists, while several government bodies have overlapping powers. He said this approach is outdated and fails to meet today’s needs.
“Giving Baiterek Holding a more active role in investment matters may be the right solution. The Ministry of National Economy and the Ministry of Foreign Affairs will retain some of their investment-related responsibilities,” he said.
Earlier, Qazinform News Agency reported that President Tokayev had ordered a new long-term financing system for farmers.
