Kazakhstani Enterprises Will Be Able to Increase Export Earnings Amounts
Within execution of instructions of the Head of State N.A. Nazarbayev, data in The Growth of Kazakhstan’s Welfare: Improving Incomes and Quality of Life President’s Address to the People, Baiterek Holding decided to allocate 34 billion tenge to replenish the authorized capital of its subsidiary organization, KazakhExport Export Insurance Company JSC.
The main objective of KazakhExport capitalization is the increase in the amount of support for export of non-resource-based products through the instruments such as insuring a letter of credit against the risk of default on the part of the importer’s bank, insuring deferment of payment under export contracts against the risk of non-payment on the part of the importer, insuring the importer’s advance payments against the risks of the exporter’s advance payment default; and insurance of exporter’s loans directed to export development.
KazakhExport company’s services can be used by any operating enterprise in Kazakhstan for the production of non-resource-based goods, which is planning to enter international markets and protect its business from undesirable risks. The range of “KazakhExport” services already involve 13 tools for the support of small and medium-sized businesses, including credit insurance, insurance of bank security bonds, pre-export financing and others.