He was born on November 29, 1971 in Almaty, Republic of Kazakhstan.
In 1994, Bakhyt Sultanov graduated from Kazakh National Technical University as an electrical engineer; in 1995, he graduated from Kazakh State Academy of Public Administration with a degree in economics.
Bakhyt Sultanov started his employment in 1994 as a leading economist in the corporation and licensing section of the Financial Market Securities Directorate at the Ministry of Finance of the Republic of Kazakhstan.
In 1995, Bakhyt Sultanov was appointed the section head; then in 1996, he became Deputy Head of the Directorate; in 1997 – Deputy Director of Budget Department; in 1998 –Director of Public Procurement Department; in 1999 – Deputy Director of Treasury Department; in 2001 – Deputy Director of Budget Department; in 2002 – Director of State Budget Department at the Ministry of Finance of the Republic of Kazakhstan.
From September 2002 through June 2003, Bakhyt Sultanov was Director of the Department of Budget Policy and Planning at the Ministry of Economy and Budget Planning of the Republic of Kazakhstan.
From June 2003 through February 2006, he served as Vice Minister of Economy and Budget Planning of the Republic of Kazakhstan.
From February 2006 through January 2007, he was Chairman of the Statistical Agency of the Republic of Kazakhstan.
From January 2007 through August 10, 2007, he held the position of Vice Minister of Finance of the Republic of Kazakhstan.
On August 10, 2007, he became Minister of Economy and Budget Planning of the Republic of Kazakhstan.
On March 13, 2010, Bakhyt Sultanov was appointed by a presidential decree as Aide to the President of the Republic of Kazakhstan.
From January 21, 2012 through November 6, 2013, he served as Deputy Head of the Presidential Executive Office of the Republic of Kazakhstan.
From November 6, 2013 through September 11, 2018, Bakhyt Sultanov was Deputy Prime Minister of the Republic of Kazakhstan and Minister of Finance of the Republic of Kazakhstan.
From September 11, 2018 through June 13, 2019, he served as Akim of Astana.
On June 17, 2019, Bakhyt Sultanov was appointed Minister of Trade and Integration of the Republic of Kazakhstan.
From January 11 through August 15, 2022 he was Deputy Prime Minister – Minister of Trade and Integration of the Republic of Kazakhstan.
By the decision of the Supreme Eurasian Economic Council dated October 6, 2022 he was appointed Member of the Board — EEC Minister in charge of Competition and Antitrust Regulation.
By the decision of the Supreme Eurasian Economic Council, from February 1, 2024, he was appointed Member of the Board — EEC Minister of Economics and Financial Policy.
Bakhyt Sultanov was awarded letters of gratitude: by President of the Republic of Kazakhstan (2001) and by Prime Minister of the Republic of Kazakhstan (2005), as well as the following medals: 10 Years of Astana (2008), 10 Years of the Parliament of the Republic of Kazakhstan (2006), 20 Years of Independence of the Republic of Kazakhstan (2011), 20 Years of the Constitution of the Republic of Kazakhstan (2015), 20 Years of Astana (2018), Excellence in Financial Service (2014).
He is a recipient of the Order of Kurmet (2006), the Order of Parasat (2012), and the Order of Barys III class (2021).