The Modernization Council has been held at Sovereign Wealth Fund Samruk-Kazyna JSC where issues of digital transformation of the Fund’s companies were discussed. Zhumagaliyev Askar, Minister of Digital Development, Innovation and Aerospace Industry, Akhmetzhan Yessimov, CEO of the Fund and heads of portfolio companies have participated in the meeting.

Opening the Council’s session, Akhmetzhan Yessimov has reminded that last year the Transformation program underwent significant changes. The Fund has combined Transformation and Digitalization programs making them as effective as possible.

In addition, the approach to the selection of its projects designed to improve production processes in the Fund companies has become more thorough. It has already certain results. For example, the amount of net benefits amounted to KZT28 billion in 2018 while the expected net benefits from projects make KZT40.7 billion in 2019.

“Last year we had heated debate with portfolio companies which showed enormous figures of expected benefits and asked to approve sizeable budgets for these projects. We had to bring them back to reality. However, we know that the projects they are reporting today will really bring them profit and competitive benefits”,- Akhmetzhan Yessimov said.

The leaders of the Fund's group of companies have presented their key projects in Digital Transformation: JSC NC KazMunayGas - transition to the extended overhaul period at the refinery, JSC NC KTZh - transition from paperwork of shipping documents to the electronic format, Kazpost JSC - Development of B2B2C service project in the Republic of Kazakhstan etc.

In general, the updated program includes 56 projects and 98 events.

“Samruk-Kazyna is one of the key players in the Kazakhstan digitalization program. The Fund’s digital projects are very ambitious, I’m sure they will make a significant contribution to the digitalization of the country's economy”,- Askar Zhumagaliyev, Minister of Digital Development, Innovation and Aerospace Industry, noted.

The goal of the digital transformation program is to implement strategies and solve top production problems through increasing the efficiency in the group of companies.

To recap, last year during a similar meeting Akhmetzhan Yessimov, CEO of Samruk-Kazyna JSC, instructed to make the Transformation program as appropriate as possible for the portfolio companies’ business tasks, to move away from the “exaggerated figures” and to find new approaches for increasing the profitability of each company through transformation.