General Information

Мission and vision

Mission of Export Insurance Company “KazakhExport” JSC  support of the growth of export of non-resource commodities, works, and services in the priority economy sectors and formation of the practice of financial-andinsurance and non-financial support of the Kazakhstan companies.

Vision of Export Insurance Company “KazakhExport” JSC  by the year 2023, to become the key development institution in implementation of the state foreign economic policy of the Republic of Kazakhstan in the Central Asia region and the countries of the Eurasian Economic Union.

Sole Shareholder

The Sole Shareholder of the Export Insurance Company “KazakhExport” JSC is the National Management Holding “Baiterek” JSC.

baiterek.gov.kz

Republic of Kazakhstan, Nur-Sultan
Mangilik El av., 55A
tel.: +7 (7172) 90-78-12; 91-91-11; 91-91-10
e-mail: kense@baiterek.gov.kz

History of the Holding

The National Management Holding “Baiterek” JSC.

Joint-Stock Company was established in accordance with Decree No.571 of the President of the Republic of Kazakhstan dated May 22, 2013 “On some measures to optimize the system of managing development institutions, financial organizations and developing the national economy” and R.K. Government Regulation No. 516 of May 25, 2013 “On measures to implement Decree No.517 of the President of the Republic of Kazakhstan dated May 22, 2013”.

Objectives of the Holding

The major objective of the Baiterek Holding is to manage shareholdings of national development institutions, national companies and other legal entities owned by it on the basis of the right of ownership and transferred in trust. The Holding was established with the aim of optimizing the system of managing development institutions and financial organizations and developing the national economy by Decree No.571 of the President of the Republic of Kazakhstan dated May 22, 2013.

One of the key objectives of the Baiterek Holding is to ensure an effective and complementary operation of the group of companies thereof.

Mission of the Holding

To assist in the sustainable economic development of Kazakhstan by financing and supporting priority sectors of the economy with a view to implement the state policy, to solve socially-oriented tasks and to achieve the goals set by the Strategy-2050.

Vision of the Holding

By 2023, the Holding should become the principal financial agent of the Government of the Republic of Kazakhstan, which will ensure the diversification, modernization and sustainable development of the country’s economy, and the solution of socially-oriented tasks of the state.

Development strategy of the Export Insurance Company “KazakhExport” Joint-Stock Company for 2017-2023

Development strategy of the Export Insurance Company “KazakhExport” Joint-Stock Company for 2017-2023 determines the directions of the Company’s development under the conditions of the expected growth of both the export-oriented activities in the non-primary sector of the economy and the volumes of export support to the target level of 1% of GDP. KazakhExport should, on the one hand, contribute to the increase in exporters and volumes of non-primary exports, and, on the other hand, technologically and organizationally meet the requirements of the increasing customer base while the scope of support is increasing.

The KazakhExport’s strategic development directions include improvement of export support tools, creation of conditions for increasing exporters and an increase in operational efficiency.

The updated strategy of KazakhExport takes into account the integration of its activities into a set of business support measures provided by the Baiterek Holding including all its subsidiaries as well as other organizations of the quasi-public sector, in particular, the National Company “KAZAKH INVEST” JSC (hereinafter – the “KAZAKH INVEST”). This implies the coordination of activities through the managerial bodies of the Baiterek NMH, the use of the infrastructure and IT solutions common to the Holding, and the prevention from duplicating functions with other organizations and units.

The strategy implementation will be aimed at achieving an updated set of the key performance indicators that reflect the essence and objectives of the KazakhExport’s activities to a greater degree. The indicators include: volume of supported exports; amount of accepted insurance liabilities; the number of exporters already supported; volume of products manufactured by entrepreneurs who obtained support; volume of export earnings of enterprises - recipients of financial and insurance support from KazakhExport. At the same time, KazakhExport will be expected to achieve a minimum break-even level of its activities (ROA at 1%).

Why with us?

In order to reorient Kazakhstan economy away from raw materials, and thereby increase its competitiveness, Kazakhstan, like any other country with an emerging economy, needs to increase the share of non-primary exports. Future of Kazakhstan economy depends on development of existing exporting companies and emergence of new export-oriented companies willing to do business on international scale. Insurance of pre-shipment risks and commodity credits for exporters provides a guarantee of confident existence for benefit of the economy of the Republic of Kazakhstan in the future.

Advantages of insurance in Export Insurance Company KazakhExport JSC

№1
Ability to export on deferred payment terms, or increase export sales on deferred payment terms
№2
Expansion of opportunities and improvement of credit conditions in the presence of insurance coverage from Export Insurance Company KazakhExport JSC since insurance of Export Insurance Company KazakhExport JSC is a security for bank loans
№3
Reduction of losses in the case of an insured event of a political nature, when the fulfillment of obligations under export contract does not depend on counter-partner abroad
№4
Non-payment risks reduction, since the risk is not completely excluded even with a guarantee
№5
An effective tool for strategy of "safe entry" into new markets
№6
Protection of Kazakhstan investments abroad from political risks
№7
Strategic planning based on identified export risks
№8
Procedure for insuring export credits usually requires less expenses than opening a letter of credit
№9
Export credit insurance is cheaper than factoring transactions