Kazakhstan to arrange people’s IPO of Samruk Kazyna Fund’s companies from 2024

ASTANA. KAZINFORM – The main goal is to dramatically raise the transparency and efficiency of asset management, Head of State of Kazakhstan Kassym-Jomart Tokayev said in his state-of-the-nation address to the people of Kazakhstan, Kazinform reports.

Tokayev tasked the Government to start privatization of all non-core assets and arrange a people’s IPO of the Samruk Kazyna Fund’s companies beginning from 2024.

«Next year, a people’s IPO of Air Astana, QazaqGaz, and state assets in major companies,» said the President.

Another important issue the Kazakh Head of State spoke of was the state of entrepreneurial climate in the country.

«A constructive dialogue needs to be established between the government and business. It is known that today during the transition period the government bodies have certain shortcomings and undue focus in their work. Therefore, further decriminalization of economic offences needs to be in place. These are the cases against entrepreneurs and, in particular, economic offences. It is necessary to introduce a just mechanism to define the limits of the rules of brining to criminal responsibility for tax crimes,» said Tokayev.

The Kazakh President confirmed to hold a special meeting with the local business community in the nearest future to discuss support of domestic entrepreneurship, reduction of regulatory pressures, and development of competition.