BAKU, Azerbaijan, Dec. 11
By Nargiz Sadikhova - Trend:
Kazakhstan’s Samruk-Kazyna Sovereign Wealth Fund is looking to increase its net assets to 14 trillion tenge ($33.3 billion), Trend reports citing the fund.
Thus, the Samruk-Kazyna Fund Board of Directors adopted the Fund Development Plan for 2021 - 2025.
Managing Director for Strategic Planning Lyazzat Borankulova explained that the basic objectives of the Plan for the five coming years will be ensuring financial viability and maintaining a sufficient level of liquidity of both the Headquarters and portfolio companies.
In her words, as soon as 2021, the extensive transformation of the Fund into an investment holding will start. The value of the Fund's net assets is expected to increase by 653 billion tenge ($1.5 billion) in 2021 and reach the amount of 14 trillion tenge ($33.3 billion).
Kazakhstan’s Samruk Kazyna Sovereign Wealth Fund will be planning to attract 1.1 trillion tenge ($2.5 billion) worth of foreign direct investments in 2H2020.
The overall volume of foreign direct investments (FDI) attracted in 2020 is planned to amount to 2.3 trillion tenge ($5.4 billion) across 23 investment projects with the participation of companies operating in oil and gas, chemical, energy, and metallurgy sectors.
Sovereign Wealth Fund Samruk-Kazyna Joint Stock Company is the Fund, where the sole shareholder is the Government of the Republic of Kazakhstan.
Samruk-Kazyna JSC Group includes enterprises operating in several industries – oil, transport and logistics, chemical and nuclear, mining and smelting, energy, mechanical engineering, and real estate.
---
Follow the author on Twitter: @nargiz_sadikh