Approval of the presidential decree on establishing the State Investment Company is expected shortly. All documents have been prepared, Trend reports, citing the Finance Minister Avez Alekperov. Its authorized capital in the amount of $100 million will be formed on the account of the State Oil Fund (SOFAR), which has been reflected in the consolidated budget.
The goal for the investment company establishing is not only investing of funds for development, but attracting 4-5 times more funds from foreign investors. Therefore, one can suggest it will be able to attract about $400-500 million of investments, the Minister thinks.
The presidential decree will finalize its activities, the management structure. From the CIS states such company exists in Kazakhstan.