The national holding company “Baiterek” and the Malaysian company Perusahaan Otomobil Nasional Sdn. Bhd. (PROTON) have signed a memorandum of cooperation aimed at developing the automotive industry and establishing a national car manufacturer in Kazakhstan. The document was signed by Rustam Karagoyshin, Chairman of the Board of the National Management Holding, and Ainol Azmil Abu Bakar, Vice President of Corporate Strategy at PROTON.

“Cooperation with PROTON opens up new opportunities for the development of the domestic automotive industry. Our partners’ experience and technologies will serve as the foundation for establishing a modern production base and creating a national automotive brand that will contribute to the country’s industrialization and economic growth,” noted Rustam Karagoyshin.

Aynol Azmil Abu Bakar emphasized that the signing of the memorandum marked an important step in expanding the company’s international presence in Kazakhstan.

“We are pleased to be part of Kazakhstan’s strategic initiative. Our experience and technological solutions will contribute to the development of local production and the strengthening of cooperation between the two countries,” he stated.

The agreement provides for conducting feasibility studies, identifying local partners, and developing financing mechanisms.

As a reminder, in 2021 it was reported that Kazakhstan would introduce new approaches to working with investors and establish an investment headquarters, while government agencies and the private sector would formulate an investment order. In 2024, it was announced that local administrations would propose projects tailored to the specific needs of their regions. In 2025, it was reported that the total volume of the investment order, for example, in the agro-industrial complex, includes 202 projects. The “Investment Order” program will launch in 2026.

Source: kapital.kz