SEC "Almaty" – 15 years old

On August 27, JSC "Social and Entrepreneurial Corporation "Almaty" turned 15 years old. The Corporation was established in 2010 to promote the socio-economic development of the city of Almaty.

Today SEC Almaty is one of the key operators of the megalopolis development, uniting the state and business to implement priority projects of the city.

In honor of the memorable date, we present the main milestones in the history of SEC Almaty.

2010

• By Resolution of the Government of the Republic of Kazakhstan dated March 31, 2010, SEC “Almaty” was established as a national company. The role of the corporation was defined as a strategic institution for the development of the city.
• The company was registered with the justice authorities on August 27, 2010, with 100% of shares assigned to the Akimat of the city of Almaty. The authorized capital amounted to 1 billion tenge, which allowed the launch of the first projects without attracting external financing.

2011

• More than 1.3 billion tenge were allocated to stabilize prices for socially significant food products through the launch of a network of social pavilions and city fairs.
  
• Futures contracts were concluded for the procurement of approximately 30,000 tons of vegetables, which ensured stable supplies and price containment.
• The key priorities of SEC “Almaty’s” activities were outlined: the launch of an industrial zone, development of greenhouse farms, formation of a stabilization fund, etc.

2012

• Within the framework of the agricultural sector development program, 16 greenhouses with a total area of about 0.5 hectares were commissioned. The technologies were borrowed from South Korean partners, with yields reaching 160 tons.
• A program to expand greenhouse capacities was launched: preparations began for the construction of additional facilities.
• A commission was established for the repair of real estate facilities. Systematic work began on the rehabilitation of unprofitable assets of subsidiaries, including the revision of management strategies.

2013

• The formation of the stabilization fund continued. Approximately 25,000 tons of vegetable products were purchased to ensure affordable food prices for the population.
  
• Sale of products at reduced prices through the network of social pavilions and fairs, which allowed for a 5–20% decrease in market prices.
• Restructuring of subsidiary entities was carried out: LLP “Almaty Azyk,” LLP “Almaty Komek,” as well as work with the technology park.

2014

• The Government of the Republic of Kazakhstan approved the Development Strategy of SEC “Almaty.” The document laid down a long-term roadmap for the development of the institution. Among the priority areas were housing and utilities management, development of the industrial zone, business support, and the stabilization fund.

• SEC “Almaty” began distributing socially significant goods from the stabilization fund at cost price — without markups — in 22 special pavilions owned by the corporation to contain prices during the winter period.
  

2015

• LLP “Industrial Zone – Almaty” was established as a subsidiary of SEC “Almaty,” responsible for the development of industrial infrastructure within the city.
• A pool of investment sites with a total area of more than 270 hectares was prepared for the residents of the Industrial Zone.

2016

• Active work was carried out to attract new residents to the Industrial Zone. Among the new participants were enterprises in the fields of construction materials, processing, logistics, and the food industry.

• Construction and modernization of the engineering infrastructure of the Industrial Zone were underway. With the allocated budgetary funds, water supply, electricity, heating, and sewage networks were being laid.
• In cooperation with the Industrial Zone, mechanisms for resident support were being developed, including assistance in obtaining permits, connecting utilities, and launching production processes.

2017

• The main stage of laying engineering communications in the Industrial Zone was completed. SEC “Almaty” exercised control over the quality and timelines of the contracted works.
• The implementation of the concept of cluster-based industrial development continued: SEC “Almaty” formed groups of residents interacting within technological chains.
• Active preparations were made for the transfer of production sites to the first residents. Work was carried out on the certification of enterprises and infrastructural readiness of the sites.
• An audit of the investment portfolio of SEC “Almaty” was conducted, as a result of which the commissioning timelines of facilities were adjusted and the focus on priority sectors was strengthened.

2018

• 54 resident companies were already operating in the territory of the Industrial Zone. The total volume of private investments attracted exceeded 75 billion tenge.
  
• 14 enterprises of the Industrial Zone launched their production activities, which made it possible to create more than 2,000 new jobs.
• SEC “Almaty” coordinated the activities of residents, provided assistance with document processing, and ensured comprehensive support at all stages of project implementation.

• The program for upgrading the infrastructure of residential areas and industrial zones continued. Landscaping and greening works began in adjacent territories and industrial clusters.

2019

• SEC “Almaty” commenced the implementation of the city development program “Almaty-2050,” within which a strategic approach to asset management and investment policy was revised.

• The Akimat of the city of Almaty, together with SEC “Almaty,” developed and implemented the regional entrepreneurship development program “Almaty Business 2025,” providing entrepreneurs with access to financing, training, and administrative support.
  
• New financial organizations — LLP “Almaty Finance” and MFO “Almaty” — were established, incorporated into the SEC “Almaty” group of companies, and designed to provide preferential lending to small and medium-sized businesses.

• Under the management of SEC “Almaty,” small industrial parks were opened in five districts of the city, where entrepreneurs gained access to ready-made production facilities.

• Two new enterprises were commissioned in the Industrial Zone. The total portfolio of investment projects under the management of SEC “Almaty” exceeded 60 positions.

2020

• SEC “Almaty” was appointed as the operator of the city’s stabilization fund. The sale of food products at reduced prices was organized through 28 social pavilions and city fairs.
• For the first time in Kazakhstan, a Social Entrepreneurial Corporation obtained an international investment-grade credit rating. Fitch Ratings assigned SEC “Almaty” Long-Term Issuer Default Ratings (IDRs) in foreign and national currency at “BBB-,” with a “Stable” outlook.
  
• The President of the Republic of Kazakhstan visited the Almaty Industrial Zone. Kassym-Jomart Tokayev visited the plants “KSM Tekhnovid” and Hyundai Trans Kazakhstan. The capacity of the “Tekhnovid” plant amounts to 475,000 square meters of double-glazed units per year, while Hyundai Trans Kazakhstan produces 45,000 vehicles per year. Approximately 1,000 employees are engaged in these enterprises in total.

• The website almatyazyk.kz was launched, dedicated to ensuring the city’s food security. Consumers can find information on the addresses of fairs and trade pavilions, as well as the recommended prices for socially significant food products.
• An agreement was concluded with major retail chains for the sale of sugar in the volume of 2,000 tons under an agreement with LLP “Aksu Kant.”

2021

• SEC “Almaty” maintained its international Fitch credit rating at “BBB,” which confirmed the sustainability and transparency of its activities.

• An agreement was concluded with Sovcombank on attracting 10 billion tenge within the framework of joint investment projects.

• With the participation of SEC “Almaty,” 35 social projects were implemented: construction of schools, sports centers, creative spaces, youth and inclusive venues.

• The “Almaty Investment Forum” was held, organized by SEC “Almaty,” with the participation of more than 7,000 representatives of business, government, and international partners.
  
• The “Almaty Business – 2025” program was intensified, with new mechanisms introduced to expand entrepreneurs’ access to preferential loans and investments.

2022

• SEC “Almaty” signed a memorandum with the supermarket chain Magnum to ensure food security and stabilize prices for socially significant goods in 72 retail outlets across the city.

• A microfinancing program was launched at 2% per annum for small businesses affected by the January events. The program covered dozens of entrepreneurs.

• Under the programs “Almaty Business – 2025,” “Business Roadmap,” and others, 110 projects were financed in the total amount exceeding 42 billion tenge.
• In 2022, six projects were launched in the Almaty Industrial Zone, with a total value of 9 billion tenge.

• During his working trip to Almaty, President Kassym-Jomart Tokayev inaugurated the construction of a plant for the production of Changan, Chery, and Haval automobiles in the Almaty Industrial Zone.
  
• In January–May, MFO “Almaty” issued loans to businesses totaling 814.4 million tenge. Over the year, the number of loans issued to Almaty entrepreneurs through MFO “Almaty” doubled.

2023

• SEC “Almaty” approved a new development strategy until 2025, with a focus on digital transformation and ESG approaches.

• SEC “Almaty” joined the United Nations Global Compact, which entails compliance with the principles and values of sustainable development in the areas of human rights, labor relations, environmental protection, and anti-corruption.
  
• In the Turksib District, 56 families received the keys to new apartments within the framework of the “Program for the Renovation of the Housing Stock of Almaty for 2021–2025.” The authorized organization for the implementation of the program is SEC “Almaty.”
• In the Industrial Zone, the commissioning of two new automobile plants with a design capacity of up to 170,000 vehicles is planned, as part of the formation of an automotive cluster with the production of at least 220,000 cars.

• SEC “Almaty” became the first Social Entrepreneurial Corporation of the Republic to receive an international sustainability rating from S&P Global. The rating (9/100) indicates that SEC “Almaty” is at the initial stage of the path toward effective ESG factor management.

• SEC “Almaty” issued its first guarantee for “green bonds.” LLP “Black Biotechnology” was provided with a guarantee for a project to build a plant for the production of innovative bio-feed additives and fertilizers for the development of organic agriculture. The guarantee obligations of SEC “Almaty” for the repayment of the principal debt amounted to 1.5 billion tenge (75% of the issue volume).

• The international rating agency Fitch Ratings affirmed the Long-Term Issuer Default Ratings (IDRs) of SEC “Almaty” in foreign and national currency at “BBB-,” with a “Stable” outlook.

2024

• Fitch Ratings reaffirmed the international credit rating of SEC “Almaty” at the level of “BBB.” This strengthened the confidence of investors and international partners.

• Ten new projects were launched in the territory of the Almaty Industrial Zone. Among them were five production enterprises: a plant for the production of household chemicals and personal care products; a plant for the production of bank cards of international payment systems; a plant for the full-cycle production of reinforced concrete products; a plant for the production of electronic audio and video equipment for automobiles; and a production complex for the manufacture of cable and conductor products.
• The subsidiary of SEC “Almaty,” LLP “MFO Almaty,” in 2024 issued 106 preferential loans to SMEs. Since the approval of the “Almaty Business-2025” program, MFO “Almaty” has financed about 600 projects totaling more than 13.3 billion tenge.
• JSC “SEC Almaty” upgraded the infrastructure of weekend fairs in the Almalinsky, Auezovsky, Bostandyk, and Medeu districts of the city. To improve customer comfort and working conditions for local agricultural producers, new trade counters were installed, sanitary conditions were improved, and convenient routes for visitors were created.

• The international rating agency S&P Global, as part of its annual Corporate Sustainability Assessment (S&P CSA), awarded SEC “Almaty” a score of “20” for 2024, which more than doubled the previous year’s result
  
• The Maslikhat of the city of Almaty approved the “Program for the Renovation of Housing in Almaty until 2030,” aimed at improving residents’ living conditions, renewing the urban environment, and preventing the growth of hazardous housing stock. SEC “Almaty” was appointed as the program administrator, with LLP “PKS” designated as the authorized organization.
  
• In order to stabilize prices for socially significant food products in the city, SEC “Almaty” concluded a loan agreement with the poultry farm JSC “Alatau-Kus.” The agreement aimed to stabilize chicken meat (legs and thighs) prices for a period of 24 months, with a total supply volume of 1,818 tons.

• In the small industrial park LLP “Industrial Place,” located in the territory of LLP “Industrial Zone Almaty” (a subsidiary of JSC “SEC Almaty”), the first lithium-ion battery recycling workshop in Kazakhstan was opened. The recycling technology allows for the extraction of valuable materials such as lithium-containing powder, aluminum, copper, and other components, which can be reused in further production.

• As part of the implementation of mechanisms for stabilizing prices for socially significant food products in Almaty and preventing price increases, SEC “Almaty” concluded an agreement following commodity exchange trades for the supply of 4,500 tons of sugar.

• Deputy Chairman of the Management Board of SEC “Almaty,” Zoya Kassenova, became a finalist in the debut Central Asian SDG Pioneers Award in the small and medium business category. The award was organized by the United Nations.

• In the first half of 2024, SEC “Almaty,” together with its subsidiary LLP “PKS,” resettled 280 residents under the “Program for the Renovation of the Housing Stock for 2021–2025.” Seventy families previously residing in 10 houses with expired operational life in the Auezov, Alatau, Bostandyk, Zhetysu, and Medeu districts of the city received the keys to new, well-equipped apartments in modern residential complexes.

• Residents of the Almaty Industrial Zone produced goods worth 1.913 trillion tenge, of which 801.3 billion tenge was produced in 2023. At present, 102 companies are participants of the Almaty Industrial Zone, representing industries such as mechanical engineering, manufacturing, construction, logistics, food, chemical, and agricultural industries, among others.

• As part of the implementation of mechanisms to stabilize prices for socially significant food products in Almaty, SEC “Almaty” concluded a loan agreement with LLP “Magnum Cash&Carry” for the procurement of 13 socially significant food product (SSFP) items. The total volume of procured SSFP amounted to 2,547.7 tons.

2025

• SEC “Almaty” is completing the implementation of its strategy through 2025. Proposals have been prepared for the development of a new strategy through 2030, taking into account current challenges and megatrends.
• Fitch Ratings affirmed SEC “Almaty’s” rating at “BBB-” with a “Stable” outlook. The “BBB-” rating, belonging to the investment grade category, indicates a sufficient level of the company’s creditworthiness and low expectations of credit risks.

• In Almaty, eco-awards “Smart Plastic Zone” were presented and a strategic Memorandum on sustainable development was signed between SEC “Almaty” and the Green Urban Association. The Memorandum became an important step in promoting environmentally friendly, energy-efficient, and sustainable solutions in the urban environment.
  
• SEC “Almaty” allocated 311 land plots for the installation of electric charging stations. After all stations are commissioned, 622 new parking spaces for charging electric vehicles will appear in the city.
  
• SEC “Almaty” provided 30 entrepreneurs implementing socially significant projects with non-residential premises for rent on preferential terms. The cost of such rent is set at 0.1 MCI per square meter including VAT, which is significantly lower than the market rental cost in the metropolis.

• A ceremonial groundbreaking ceremony was held in the city’s Industrial Zone to mark the start of construction of the first plant in the Republic of Kazakhstan for the production of paint and coatings designed to meet the needs of the automotive and processing industries.
• Since the beginning of the year, weekend fairs in Almaty have been attended by more than 550,000 residents and guests of the city. At the weekly temporary trade sites, more than 320 agricultural producers and farmers from Almaty and the Almaty region present over 1,000 types of food products.

• In the first half of 2025, 220 owners of dilapidated housing in Almaty moved into new well-equipped apartments. The resettlement was carried out by LLP “PKS” as well as by investors within the framework of the “Program for the Renovation of Housing in Almaty until 2030.”

• In the first half of 2025, the subsidiaries of SEC “Almaty,” within the framework of the regional entrepreneurship development program “Almaty Business – 2025,” financed 44 projects totaling 4.7 billion tenge, which made it possible to create 320 new jobs.
  
• SEC “Almaty” is expanding the network of weekend fairs: new sites have been opened in the Almalinsky and Zhetysu districts.