Joint Stock Company Sovereign Wealth Fund «Samruk-Kazyna» was founded in accordance with the Decree of President of the Republic of Kazakhstan dated October 13, 2008 № 669 «Оn some measures on competitiveness and sustainability of national economy» and by the Decree of the Government of the Republic of Kazakhstan dated October 17, 2008 № 962 «Оn measures on realization of the Decree of President of the Republic of Kazakhstan № 669» by merge of two joint stock companies Kazakhstan Holding for the Management of State Assets SAMRUK and KAZYNA Sustainable Development Fund.
Sovereign Wealth Fund «Samruk-Kazyna» is established in order to enhance competitiveness and sustainability of national economy and prevent any potential negative impact of changes in the world markets on economic growth of the country.
The key purpose of “Samruk-Kazyna” is to manage shares (interests) of national development institutions, national companies, and other legal entities it owns to maximize their long-term value and competitiveness in the world markets.
Samruk-Kazyna will rely on the following key principles:
1. safeguarding interests of the state as the sole shareholder of Samruk-Kazyna;
2. transparency, efficiency and flexibility of Samruk-Kazyna and Companies;
3. systemic and effective manner of decision-making and execution; and
4. commitment and accountability.
Samruk-Kazyna will rely on the following main directions of operation:
1. support to modernization and diversification of national economy;
2. support to economic stabilization in the country; and
3. enhancing efficiency of the Companies.
The key area for Samruk-Kazyna and Companies shall be modernization and diversification of national economy in the framework Annual Addresses of the President of Kazakhstan, Strategy of Industrial and Innovation Development of Kazakhstan 2003-2015.
Samruk-Kazyna is to provide maximum support to the Government of Kazakhstan, promptly and efficiently responding to the needs in attracting investments into real economy, becoming more active in the regions, strengthening inter-industry and inter-regional links and making maximum use of available advantages and opportunities.
Diversification and modernization of national economy can go efficiently through active investments especially in such prioritized sectors as:
- oil and gas;
- power energy;
- chemistry and petrochemicals; and
Key Objectives of Samruk-Kazyna are:
1. to develop and ensure implementation of regional, national and international investment projects;
2. to support and modernize existing assets of Samruk-Kazyna Group of Companies;
3. to support regional development and implementation of social projects;
4. to support national producers.