Astana became the capital of Kazakhstan in 1997. Since then, the city has evolved into a modern metropolis with unique architecture, highly-developed infrastructure and efficient financial institutions.
The Astana International Financial Center (AIFC) has been launched, a financial hub for Central Asia, the South Caucasus, the Eurasian Economic Union, the Middle East, Western China, Mongolia and Europe. The AIFC is located at the site of Expo-2017.
The AIFC will adhere to the law of England and Wales, as well as the standards of leading global financial centers. AIFC participants will enjoy tax benefits for a period of 50 years.
One of Kazakhstan’s advantages is its long-term development strategy, which is already being implemented.
In December 2012, President Nursultan Nazarbayev presented the Development Strategy of the Republic of Kazakhstan until 2050 to the people of Kazakhstan. Its main goal is to create a welfare society based on a strong state, a developed economy and universal employment opportunities, as well as to raise Kazakhstan to the ranks of the 30 most developed countries in the world.
Samruk-Kazyna’s sole shareholder is the Government of Kazakhstan.
The Fund was founded in 2008 by Decree of the President of Kazakhstan as an investment fund with the objective of enhancing the national welfare of Kazakhstan and supporting the modernization of the national economy.
Samruk-Kazyna is gradually becoming a world-class fund. According to the Sovereign Wealth Fund Institute, Samruk-Kazyna is among the 30 largest sovereign funds in the world, with assets under management of USD 67.4 billion.
Samruk-Kazyna’s portfolio companies employ over 327, 000 people. At the end of 2016, the Fund's consolidated profit amounted to USD 1,678,941,000.
In the first quarter of 2017, the Fund’s assets were over USD 70 billion. It is estimated that in 2021, the Fund’s assets will amount to USD 81 billion (according to the development plan for 2017-2021).
In 2017, planned investments in new and growing companies are estimated to amount to USD 229 million. By the end of 2021, the estimated cumulative investments in new and growing companies is set to be approximately USD 783 million (according to the development plan for 2017-2021).
Since 2014, Samruk-Kazyna has been a member of the International Forum of Sovereign Wealth Funds (IFSWF). IFSWF members adhere to 24 Santiago Principles, which define sovereign wealth funds' legal and institutional framework.
Samruk-Kazyna policies are in line with most of the Santiago Principles, especially those relating to transparency: in Q1 the Fund scored 10 points (the highest possible sore) in the Linaburg-Maduell Transparency Index for transparencyrankings among sovereign wealth funds.
Privatization is a key development strategy for Kazakhstan. The second wave of privatization of state owned companies is under way and Samruk-Kazyna, as an operator of many state assets, is an active participant in this process.
As part of the Comprehensive Privatization Plan for 2016-2020, Samruk-Kazyna plans to sell 215 assets on a competitive basis.
Samruk-Kazyna 's portfolio contains companies in a variety of sectors: KazMunayGas, Kazakhstan Temir Zholy, Air Astana and Qazaq Air, Kazatomprom, Kazpost, Samruk Energo and KEGOC, Kazakhstan Engineering.
All major Fund assets are being prepared for an IPO. Six large companies (Kazatomprom, Air Astana, Kazpost, KazMunayGas, Samruk Energo and Kazakhstan Temir Zholy) have completed the first stage of pre-sale preparation.
The Government of Kazakhstan and Samruk-Kazyna are interested in attracting foreign investment. At the same time, the country is working hard to create a favorable business climate for investors and to improve business conditions.
Kazakhstan is a friendly, rich, reliable and growing country. Partnering with Kazakhstan is beneficial not only in the short term, but also in the long term.