Qazaqstan Investment Corporation and Baiterek Holding Discuss Investment Cooperation Opportunities with Business Delegation from Hong Kong and China

Qazaqstan Investment Corporation (QIC), a subsidiary of Baiterek National Investment Holding, participated as part of the Baiterek Holding delegation in a meeting with representatives of the business communities of Hong Kong and Mainland China during the official visit of the Chief Executive of the Hong Kong Special Administrative Region of the People's Republic of China, John Lee, to the Republic of Kazakhstan.

The event became one of the largest platforms for dialogue between Kazakhstan’s development institutions and the international business community. The delegation, organized by the Hong Kong Trade Development Council (HKTDC), brought together more than 70 senior executives from leading Hong Kong companies and representatives of enterprises from 17 provinces and municipalities of Mainland China. Participants represented the financial sector, logistics, high technology, energy, biopharmaceuticals, and industry.

Opening the meeting, Rustam Karagoishin, Chairman of the Management Board of Baiterek Holding, presented the Holding’s evolving role in Kazakhstan’s economy. As of the end of 2025, the Holding’s total assets had reached approximately USD 40 billion, while more than USD 21 billion had been channeled into the national economy. During the year, Baiterek financed over 100 major projects and provided support to thousands of small and medium-sized enterprises and agricultural producers.

During the event, Didar Karimsakov, Chairman of the Management Board of QIC, presented Kazakhstan’s investment potential and highlighted opportunities for international partners in the private equity and venture capital sectors.

Today, QIC is one of Kazakhstan’s leading investment institutions and the country’s largest private equity and venture capital fund-of-funds platform. The company’s portfolio includes 19 investment funds, with approximately USD 3 billion in assets under management. Since its establishment, QIC has supported 144 companies, directing 98.7% of its investments toward the development of Kazakhstan’s economy.

Particular attention during the discussions was given to expanding cooperation between Kazakhstan and Hong Kong. QIC has already established successful partnerships with Hong Kong-based investment institutions. One example is the Corporation’s participation as a limited partner in the Forebright Life Science Technology Fund L.P., managed by Forebright Capital. The fund invests in biotechnology and healthcare projects, contributing to the introduction of advanced precision medicine solutions in Kazakhstan and Central Asia.

Another key topic of discussion was joint investment opportunities in the agricultural sector. Participants were introduced to ADAL Fund L.P., a new private equity fund managed by QIC with a target size of up to USD 1 billion. The fund is focused on strengthening the export potential of Kazakhstan’s agro-industrial sector, supporting deep agricultural processing, and facilitating the consolidation of domestic producers.

The parties also discussed prospects for cooperation in infrastructure, logistics, and energy. International partners expressed strong interest in projects related to the development of the Middle Corridor, transport infrastructure, and the expansion of Kazakhstan’s industrial capacity.

The meeting also highlighted the ongoing construction of a 160 MW combined-cycle gas power plant in Aktau, a project valued at approximately USD 190 million and being implemented by Baiterek Holding and China Huadian with the participation of QIC.

Participants paid particular attention to capital market development and debt financing opportunities, including the potential listing of Otbasy Bank, Kazakhstan’s largest specialized housing savings bank.

As a practical outcome of the discussions, Baiterek Holding signed Memorandums of Understanding with Bank of China (Hong Kong) Limited and Invest Hong Kong. In addition, the Development Bank of Kazakhstan signed a Memorandum of Understanding with Standard Chartered Hong Kong. The signing ceremony took place with the participation of Chief Executive John Lee.

Leading companies from Hong Kong and Mainland China, including Airport Authority Hong Kong, China Mengniu Dairy Company Limited, Standard Chartered Bank (Hong Kong) Limited, and Shandong Energy Group, expressed interest in expanding cooperation with Kazakhstan. The parties agreed to continue exploring joint projects in logistics, infrastructure, agro-industry, finance, and energy.

The development of this partnership comes amid strengthening economic ties between Kazakhstan and Hong Kong. In 2025, bilateral trade increased by 38.1% to reach USD 178.8 million, while cumulative investment from Hong Kong into Kazakhstan’s economy exceeded USD 3.9 billion.

Following the meeting, participants reaffirmed their commitment to expanding investment cooperation and advancing new joint initiatives aimed at strengthening economic ties between Kazakhstan, Hong Kong, and Mainland China.