Samruk Kazyna presents Action plan on reforms

Samruk Kazyna presents Action plan on reforms


25 January 2022

As part of the policy of transparency and openness, taking into account citizens' increased interest and requests on reform issues, Samruk-Kazyna JSC presents the Action Plan, developed to pursue the President's instructions of the President Republic of Kazakhstan, in the public domain.

The document, approved by the Board of the Fund on January 24, 2022, contains specific measures to reform business processes and corporate governance practices in portfolio companies.

The Plan reflects systemic measures to change the personnel policy, the procurement system, initiatives to increase the corporate social responsibility of the Fund and portfolio companies, support business, improve the processes of the compliance service, new approaches to dividend and investment policy, asset privatization and human capital development.

Implementation of the Plan will ensure:

• introduction of transparent mechanisms and removal of barriers on the part of the Fund's portfolio companies for participants in the oil refining markets, marketing of oil and oil products, development of the gas market, coal and electricity supplies, access to infrastructure, telecommunications, etc.;

• an increase in the wages of production personnel up to the industry average;

• introduction of new unified procurement rules agreed with state bodies and businesses with direct action norms;

• increase in the share of domestic producers from 78% to more than 85%;

• the implementation of investment projects to develop new industries and import-substituting productions following business requests as a business partner.

More detailed information about the Action Plan on reforming the Samruk-Kazyna Fund can be found in the section "About the Fund" / "Reforms in the Fund" at the link