Kazakhstan developing measures to reform Samruk-Kazyna Fund's activities

Kazakhstan 22 January 2022 14:35 (UTC +04:00)
Kazakhstan developing measures to reform Samruk-Kazyna Fund's activities

BAKU, Azerbaijan, Jan. 22


Measures are being developed in Kazakhstan to reform the activities of the Samruk-Kazyna Fund, the country’s Prime Minister Alikhan Smailov said, Trend reports via Kazinform.

Smailov made the remark during the meeting of President Kassym-Jomart Tokayev with local business representatives.

According to the prime minister, the measures being developed by order of the president are aimed at increasing the fund’s efficiency and transparency, simplifying procurement procedures and supporting domestic businesses, including through long-term off-take contracts.

He also noted that the fund, acting as a partner on the part of the state, will help attract private investments in priority sectors of the economy.

"In general, we are faced with the task of improving the investment climate," added Smailov.

Earlier, he noted that decisive measures would be taken in Kazakhstan to develop competition and improve the business environment.

"By the president’s order, three packages of anti-crisis measures were adopted in 2020 and two packages in 2021 to support business during the COVID-19 pandemic,” he said. “As part of these measures, funding for business support tools was expanded, the tax burden was reduced, and measures were taken to stimulate domestic demand.”