Published on 01/19/2022
Kazakh President Kassym-Jomart Tokayev is keen to open up the Kazakh economy and wants to speed up the privatization of the assets of the Samruk-Kazyna fund for this purpose. However, Tokayev made it clear that transparency in privatization is very important as well as the structural transformation of the economy. The government of Kazakhstan is the sole shareholder of the Samruk-Kazyna National Social Welfare Fund. The fund’s portfolio companies include Air Astana, state oil and gas company Kazmunaigas, Kazatomprom and Kazakhstan Railways companies.
“According to the head of state, it is necessary to reduce the excessive presence of the state in the economy, to intensify the privatization of the assets of the Samruk-Kazyna fund for this purpose. At the same time, it is important to achieve transparency in privatization, without which the structural transformation of the economy is impossible. The president expects specific proposals and actions from the government and the state commission on privatization issues,” Tokayev’s press secretary Berik Uali wrote on his Facebook page (translated into English).
“The fund’s portfolio companies are the backbone of the national economy. Therefore, it is now on the fund that the solution of the tasks for the structural restructuring of the economy and the direction of resources for the benefit of the people depends. The president believes that the government must first of all take care of reducing the heavy administrative superstructure,” explained the presidential spokesman of Kazakhstan.