President • 19 April, 2018

Kazakh President chairs Samruk Kazyna Fund management board meeting

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Head of State Nursultan Nazarbayev held a meeting of the Samruk Kazyna National Welfare Fund management board, the Akorda press service reports.

Prime Minister Bakhytzhan Sagintayev, Head of the Presidential Administration Adilbek Dzhakssybekov, Head of the National Bank Daniyar Akishev, Chairman of the Management Board of Samruk Kazyna JSC Akhmetzhan Yessimov, Deputies PM Askar Mamin and Askar Zhumagaliyev, Assistant to President Alikhan Smailov, Minister for Investments and Development Zhenis Kassymbek, National Economy Minister Timur Suleimenov, Finance Minister Bakhyt Sultanov, Energy Minister Kanat Bozumbayev, Samruk Kazyna JSC Independent Director P.Evans, heads of national companies and enterprises attended the meeting.

Those gathered focused on issues concerning adoption of the revised Development Strategy of Samruk Kazyna and the foundation's Transformation Program.

Opening the sitting, the Kazakh Leader noted strategic role of Samruk Kazyna in strengthening and further development of the country's economy.

"Samruk Kazyna plays a key role in the country's economy. The first long-term development strategy of Samruk Kazyna was adopted in 2012. It was elaborated in order to stand against the consequences of the global financial crisis. Situation has changed in the past years. Having resisted the external factors, our economy has embarked on the way of steady development. We have done a lot," the President stressed.

The Head of State positively appreciated the efforts aimed at the development of the fund and highlighted the need to update the earlier-adopted programs in line with contemporary conditions.

Chairman of the Board of Directors - Prime Minister Bakhytzhan Sagintayev, Samruk Kazyna JSC CEO Akhmetzhan Yessimov, and Samruk Kazyna JSC Independent Director P. Evans made reports. Those gathered were presented the renovated Development Strategy for 2018-2028 and Transformation Program.

The President emphasized the need to continue work on privatization of Samruk Kazyna assets highlighting high interest of foreign investors in this program. Nursultan Nazarbayev also pointed out the process of digitalization of Samruk Kazyna companies stressing timeliness of the program in terms of the fourth industrial revolution. Besides, the Head of State suggested making system decisions in respect of large investment projects of Samruk Kazyna.

Following the results of the sitting, the President of Kazakhstan approved the updated 2018-2028 Development Strategy and Transformation Program of Samruk Kazyna JSC and ordered to ensure special control over their further realization.

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