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Tokayev has relieved Baibazarov from his position as Minister of National Economy.

Tokayev has relieved Baibazarov from his position as Minister of National Economy.

"By the decree of the head of state, Nurlan Serikovich Baibazarov has been relieved of his duties as Deputy Prime Minister - Minister of National Economy of the Republic of Kazakhstan," the statement reads.

The official website of the Ministry of National Economy states that Nurlan Baibazarov held various positions from 2004 to 2011, including head of the project agency service department, managing director of investment projects, director of the corporate development department, and corporate secretary of JSC "Development Bank of Kazakhstan."

From 2013 to 2016, he led the Department of Economic Sector Development at the Ministry of National Economy of the Republic of Kazakhstan. Additionally, he has worked over the years in joint-stock companies: JSC "National Company Kazakhstan Temir Zholy," JSC "KazMunayGas Consulting," and JSC "National Company KazMunayGas."

From 2016 until November 2022, he served as a member of the Board of Directors and Chairman of the Management Board of JSC "Industrial Development Fund."

From November 2022 to October 2023, he was the Chairman of the Management Board of JSC "Development Bank of Kazakhstan."

By the decision of the Sole Shareholder of JSC "National Management Holding "Baiterek" dated October 5, 2023, he was appointed as the Chairman of the Management Board of the Holding.

As of February 6, 2024, he will be the Deputy Prime Minister - Minister of National Economy of the Republic of Kazakhstan.