«Samruk-Kazyna» discusses role of corporate governance in achieving goal of business transformation

«Samruk-Kazyna» discusses role of corporate governance in achieving goal of business transformation

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16 July 2015

On July 16, 2015 «round table» on the issues of corporate governance and interaction with public authorities took place.

Deputy Chairman of the Management Board of «Samruk-Kazyna» JSC Yelena Bakhmutova noted the role of corporate governance in achieving the ambitious goal of transforming the business - Kazakhstan's joining top 30 developed countries.

«Ten indicators of competitiveness index relate to corporate governance in the country. Nine of them are subject to significant improvements. If we can improve them, the rating of Kazakhstan will increase and, as a result competition in the country and the investment climate will improve as well,» Yelena Bakhmutova explained.

According to her, at present Kazakhstan holds 50th place in the Global Competitiveness Index.

Yelena Bakhmutova recalled that in January of the current year, the Government of the Republic of Kazakhstan and the OECD signed a Memorandum of Understanding on the implementation of the country program of cooperation for 2015-2016 years.

«The Head of State instructed to create an international financial center in Astana and for this purpose to put at least 5 companies of the Fund on the stock market. To achieve this, it is necessary to implement international principles of corporate governance. Corporate Governance – is a requirement of time. It is time of the progressive development of Kazakhstan's financial market,» Deputy Chairman of the Mangaement Board of “Samruk-Kazyna» JSC Yelena Bakhmutova said.

The «round table» was attended by representatives of the President’s Administration, the Government of the Republic of Kazakhstan and specialists of «Samruk-Kazyna» group of companies.