Deputy Prime Minister – Minister of National Economy Serik Zhumangarin visited the front office on its first day of operation and learned about the new format of business support.

The unified front office combines the support tools of Baiterek Group organizations under a "one-stop-shop" principle. Here, entrepreneurs can receive consultation, select a suitable support tool, submit an application, and secure project support up to the consideration of financing.

Front offices will operate in all regions of Kazakhstan based on Damu Fund branches. For entrepreneurs from remote areas and villages, mobile offices—buses that specialists plan to use for visits to districts—are provided. Thus, it will be possible to obtain the necessary advice and support without traveling to the regional center, including in regions where individual development institutions do not have their own representative offices.

Front office consultants intend to provide information on support tools from Baiterek Group organizations:

• Damu Entrepreneurship Development Fund – preferential lending, interest rate subsidization, guarantees, and non-financial support measures for small and medium-sized businesses;
• Development Bank of Kazakhstan – financing for large investment projects;
• Qazaqstan Investment Corporation – private equity and venture capital financing tools;
• Export Credit Agency of Kazakhstan – export credit insurance;
• Industrial Development Fund – preferential and lease financing for the modernization of enterprises.

"Today, our specialists work not only with the Fund's tools, but also help select solutions from other Baiterek holding organizations. In essence, the Damu regional network is becoming a single point of access to a wide range of financial and non-financial tools—from preferential lending and guarantees to investment financing, export insurance, and leasing," Farkhat Sarsekeyev said, Chairman of the Board of Damu Fund.

The technical launch of the unified front office took place in February this year. During this time, consultants processed about 30,000 inquiries from entrepreneurs. Through the front office, 1,250 projects were accompanied and funded.

Business Support and Escrow Centers also operate in pilot mode on the basis of the unified front office. Their task is to assist entrepreneurs in solving specific issues requiring interaction with state bodies, financial institutions, and other organizations.

Center specialists perform an initial analysis of the problem and determine possible ways to solve it. If necessary, specialized state bodies, financial institutions, akimats, and Baiterek Group organizations are involved in the work. The pilot project covers Astana, Almaty, Shymkent, North Kazakhstan, and Aktobe regions.

"It is important that such support is available in all regions of the country. We plan to scale the 'Isker Aymaq' program to villages, making the approach to supporting entrepreneurs more targeted. Regional branches and Damu mobile front offices should play a major role here. The consultants' task is to accompany businesses at all stages of formation and development. Another important direction is Business Support and Escrow Centers. Often an entrepreneur faces a specific problem, but does not know where to turn and how to solve it. It is precisely for such situations that these centers are created. For now, they work in pilot mode in five regions of the country," Serik Zhumangarin noted.

 

#Economy #Finance #Investments #Serik Zhumangarin

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