The development strategy of «Samruk-Kazyna» for 2012-2022 was approved by the Government of Kazakhstan.

On the 28th of August at the cabinet meeting the head of JSC «Samruk-Kazyna» Umirzak Shukeyev said that the Strategy identifies the key objectives, milestones, and strategic direction of the Fund.

«It was the most important, becausethe Fund will be developedduring the following 10-year period. So first of all we have defined the mission of the Foundation - increasing the national wealth of Kazakhstan by rise long-term value of the organization and effective management of assets of the Fund Group »- said U.Shukeev.

«In practical terms, this means thatprofitability coming from the investment exceed the cost of capital, which is provided by a shareholder or creditor, »- he explained.

According to it, in the realization of its mission, the Foundation will be guided by principles such as respect for the interests of the state as the sole shareholder, profitability, efficiency, transparency and accountability of the Fund, consistency and efficiency in decision-making, social responsibility to the community, the law.

«Until 2022 we want to become the strategic holding company,which canjointhe companies that have reached the world's best practices, and the basis of maintaining stable operation of the country. Becoming the strategic holding company, the Fund will not interfere in the affairs of the operating companies and will establish full control only through the Board of Directors on strategic issues and directions », - added U.Shukeev.

He noted, that nowthe Fund operates more as the operating holding company.

«We are actively working with companies on everything from the selection of the projects and the grant funding. This is connected with the current level of development of the national companies and the general order of the questions related to the implementation of policy documents on development of the country », - said U.Shukeev.

According to it, in ten years it is planned that the Fund will operate as the financial holding company, i.e. concentrating solely on the financial results of companies and without interfering with the board of directors.

«As part of our specific mission and vision of the Foundation, we have set ourselves three strategic directions of development: a long-term increase in value of the companies involved in the diversification and modernization of the national economy and social responsibility», - said V. Shukeev. He added, that for the implementation of these tasks there will be developed the corresponding structure of the Fund, allocated resources are defined stages, goals and specific questions. The presentation of the head of JSC «Samruk-Kazyna» Umirzak Shukeyev at the government meeting on the Development Strategy of the Fund for 2012-2022 is here.

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