Astana, Kazakhstan, Oct. 7
By Daniyar Mukhtarov - Trend:
Kazakh Sovereign Wealth Fund Samruk-Kazyna joint-stock company's transformation program will bring Kazakhstan $ 11 billion, the company's statement referring to the chairman of the board Umirzak Shukeyev says.
"Samruk-Kazyna holding is the owner of the largest strategic national companies worth more than $ 16 trillion tenge or about $ 100 billion," he said.
"The fund directly adds 2.5 trillion tenge to the country's GDP," he said. "About a quarter of all investments in Kazakhstan is made by subsidiaries of the fund. We provided more than 350,000 people with jobs. It becomes clear that the country's modernization is impossible without the modernization of Samruk-Kazyna."
"The modernization of the fund's activity as part of the transformation program involves improving the approaches to make investments, optimizing the business processes and a structure of the portfolio, as well as large-scale reorganization and "de-bureaucratization" of the fund's activity," he said.
"The implementation of these initiatives will help reach the positive indices of economic value added (EVA) by 2020," he said. "This will bring the economy of Kazakhstan additional two trillion tenge or $ 11 billion."