The Face of Kazakhstan Business

Bulat Utemuratov seems to be a very private person to many, since he almost does not do interviews and does not talk about his personal life. At the same time, his personality is still of interest to the media, because a successful businessman, politician and public figure heads the TOP-50 of the most influential people in Kazakhstan. 

It is exactly him who has been developing the country’s economy during harsh times, ever since the Soviet Union collapsed. Whereas Mr. Utemuratov prefers not to talk much about his family affairs, his business projects and charity give plenty of reasons to be discussed.

Development of business empire

The career of Almaty Narkhoz graduate was quick and successful: after the graduation he worked as a lecturer, then in the trade management system, and several years later he headed the republican Ministry of Foreign Economic Relations. The appointment to Austria played a significant role in the formation of Utemuratov as a successful businessman, and later – his diplomatic work in Switzerland. Having acquired international connections and gained valuable experience of doing business in Europe, Mr. Utemuratov returned to his homeland as a self-made businessman with solid capital.

His first major project was the development of ATF-Bank from a small institution into a large financial structure, followed its subsequent sale. After the crisis of 2008, Utemuratov created two more banks, and also became a shareholder in the other two, engaged in their reorganization and restoration.

In 2006, with the active participation of Bulat Utemuratov, the investment group Verny Capital was created. Running this company, the businessman showed a grasp and a flair that allowed, with the help of financial investments and competent modernization, to return to the country many objects that were unprofitable and considered to be unpromising. Thus, the first luxury hotels and business centers were opened in the country, and the gold mining industry was relaunched.

Charity projects

Personal charity foundation of Utemuratov, Asyl Miras, helps autistic children and their parents, seeks effective methods of rehabilitation of children with cerebral palsy, collects funds for the purchase of modern equipment for children's hospitals, diagnostic and rehabilitation centers.
The fund is financed by:
  • fundraising;
  • auctions and fairs;
  • sponsorship from individuals and organizations;
  • personal funds of the founder.
Also, Bulat Utemuratov actively finances the sports and education sectors. Thus, a Kazakhstan businessman, multiplying his own fortune, generously invests in the future of his country.

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