Atameken Board Chairman’s comment
The Atameken National Chamber of Entrepreneurs of Kazakhstan repeatedly concerns about the efficiency of state programmes, including those implemented by the Baiterek National Management Holding JSC.
The National Chamber does not doubt the activities of all subsidiaries of the Baiterek Holding, but it is necessary to improve their performance and reformat them to the current crisis situation in the economy. In particular, in the structure of the Development Bank of Kazakhstan portfolio, more than half of the projects are in the quasi-state sector, as well as large companies.
Earlier, lending to large and long investment projects was reasonable. Now the Chamber proposes to engage in lending to SMEs, import substitution projects - this is exactly what the country needs now.
The situation with the pandemic and the collapse of prices for major export goods has shown the need to change the format of the financial institution and meet the demands of domestic business.
Given the criticism of the Head of State at an enlarged meeting of the Government on January 24 this year, earlier I was invited to hear reports of all operators of state programs at the site of the Center for Analysis and Monitoring of Social and Economic Reforms under the Presidential Administration.
Taking into account the readiness of the Chairman of the Board of the Baiterek NMH JSC to an open discussion, I turn publicly to the head of the Center to appoint an extended meeting for the report of the Holding management on the effectiveness of operated state programmes.
According to the Law, Atameken is a non-governmental, public organization, accountable to its elected bodies.
I take Holding's recent comments as an attempt to avoid a meaningful discussion about its role and place in the economy in the current difficult situation.
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