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Sovereign Wealth Fund «Samruk-Kazyna» JSC

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Akhmetzhan Yessimov and Bakytzhan Sagintayev to sign a memorandum of cooperation

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01.11.2019 00:00

In Almaty, a meeting was held on development of the city between Akhmetzhan Yessimov, CEO of Samruk-Kazyna JSC and Bakytzhan Sagintayev, akim of the southern capital.

Samruk-Kazyna JSC and the akimat (Major’s office) of the southern capital signed a Memorandum regarding Cooperation in the implementation of projects in energy, information and communication, and social spheres.

The memorandum includes such areas as the development of the energy sector, electronic commerce and the postal network, information and communication infrastructure, import substitution and local content as well as facilitating the participation of Almaty entrepreneurs in the procurement of the Fund's group.

“We’re undertaking a study of those goods that are not produced in Kazakhstan and, if the investor starts production, we provide purchases. The Fund will support such projects through the signing of off-take agreements, that is, the mechanism of long-term prepaid orders”,- said Akhmetzhan Yessimov, CEO of Samruk-Kazyna JSC.

The document also provides for the definition of a unified technical policy for the prospective development of heat supply and power supply systems, the promotion of small and medium-sized enterprises, the employment and support of talented youth, the improvement of the quality of mobile services and the provision of high-quality high-speed Internet access.

As part of improving the quality of mobile services in Almaty, the Fund intends to ensure the launch of 37 base stations of the 2G / 3G standard, 26 base stations of the 4G standard in 2019-2020, and a pilot of the 5G standard by 2021.

Akim of Almaty noted the practical component of the signed document.

“The memorandum contains specific measures to strengthen cooperation between the city’s business community and the Fund’s companies. Our entrepreneurs are ready to supply high-quality products for the needs of the Samruk-Kazyna JSC. Of course, strengthening contacts will give great support to the development of the Almaty economy and improving the life quality of Almaty residents”, -said Bakytzhan Sagintayev, akim of Almaty.

Nevertheless, the parties will cooperate in expanding of using an natural gas as a motor fuel, in resolving social issues, in the application of measures to develop Almaty as a "Smart City" and also in automation of housing and communal services and security monitoring.

According to the memorandum, questions regarding the social sphere will be resolved, namely in the areas of preventing social orphanhood, drug-free correction of autism, legal support for placing children in the family, popularizing sports and healthy lifestyles, material and technical equipment for correctional schools and kindergartens, palliative care hospitals, and tuberculosis dispensaries.

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