Since January 1, 2019 Samruk-Kazyna Sovereign Wealth Fund will not accept correspondence on paper from its portfolio companies. Thus, the Holding intends to reduce up to 100% expenses for correspondence, speed up the letter processing, strengthen the performance discipline and cut the delays of important documents. As a result, this measure will save up to KZT500 million till 2022.

By the instruction of the CEO of Samruk-Kazyna JSC Yessimov A.S. in July, 2018 it was established a working group on development of the electronic correspondence transition plan. This group has studied in detail technical opportunities of subsidiaries and their readiness to transfer to the paperless correspondence. At the moment, only 17% of correspondence in the Funds group is paperless while 36% of the Fund’s companies do not have a relevant electronic document management system.

If the documents registration and processing from portfolio companies situated in remote destinations can take two weeks now, then after the project implementation it will take up to 1 minute. For this purpose the Informational Technologies Department will install the integrated electronic document management system in 129 companies of the Fund.

It should be noted that after the implementation of the project, the Fund and its subsidiaries will be able to maintain paperless correspondence with state bodies, organizations and other legal entities.

In addition, the Fund is planning to optimize internal processes to reduce the bureaucracy on a permanent basis.