Toqayev Appoints Nurlan Baibazarov as Head of Presidential Administration’s Investment and Trade Department

Kazakh President Qasym-Jomart Toqayev has appointed Nurlan Baibazarov as the new head of the Presidential Administration’s Department of Investment and Trade, Orda.kz reports.

According to Aqorda, Baibazarov had not held a public service position since late 2024, when he was dismissed from his post as Deputy Prime Minister and Minister of National Economy.

Baibazarov’s career has spanned both the public and corporate sectors. He previously worked at KazMunayGas and its subsidiaries, and spent six years at the Ministry of Finance (1997–2003). From 2004 to 2011, he held various positions at the Development Bank of Kazakhstan. From 2013 to 2016, he headed the Department for Industrial Development at the Ministry of National Economy.

He later led several major financial institutions:

• Chair of the Industrial Development Fund (2016–2022)
  
• Chair of the Development Bank of Kazakhstan (2022–2023)
  
• Chair of Baiterek Holding (2023–2024)

In February 2024, Baibazarov was appointed Minister of National Economy, but served less than a year before being dismissed on December 21, 2024. He was replaced by Serik Zhumangarin.

As minister, Baibazarov was known for his optimistic statements about replenishing the National Fund amid hopes of rising oil prices, even as withdrawals from the fund exceeded incoming revenues. He also attracted attention with his remark that fluctuations in the tenge exchange rate could lead to higher housing prices, prompting the then-Minister of Construction, Kanat Sharlapayev, to issue clarifying comments.

This marks the second time in recent months that a former economy minister has joined the Presidential Administration. In mid-September, former Almaty mayor Yerbolat Dosayev was appointed Deputy Head of the Presidential Administration.

Original Author: Nikita Drobny