Top managers of Samruk-Kazyna JSC (“the Fund”) invited German investors to participate in the privatisation programme at a meeting with the business delegation during the visit of the President of the Federal Republic of Germany Frank-Walter Steinmeier to the Republic of Kazakhstan on July 11-12, 2017.
Berik Beisengaliyev, Managing Director for Asset Optimisation of Samruk-Kazyna JSC, remarked:
"The main goal of the privatisation programme is to improve management efficiency by optimizing the composition and structure of ownership, attracting foreign investment for the knowledge and technology transfer, and maximizing profit through the sale of companies to the private sector. As a result, it is planned to reduce the state's participation in the country's economy and to strengthen its foundation by increasing the share of the private sector.
Mr Beisengaliyev emphasized that the Fund’s portfolio companies implement several joint projects with German companies, such as the creation of an intermodal operator in Europe, facilitating rail connectivity between Europe and China (KTZ Express JSC and RTSB GmbH project); the creation of the National Center for Vocational Education and Training in Kazakhstan (Kazakhstan Engineering JSC and Rheinmetall Eastern Markets GmbH project) and others.
Yerzhan Tutkushev, Со-Managing Director for New Industries Development, commented:
"One of the strategic tasks of Samruk-Kazyna is to attract foreign investment to the country's economy in order to create jobs, increase the tax base, diversify the economy and strengthen economic activity in the country. At the same time, the Fund does not plan to compete with private business. To increase the share of the private sector in the country, the Fund plans to invest only on the terms of joint investments with strategic partners, where German enterprises, both large and medium-sized, could be the best form of cooperation in this direction."
Uwe Beckmeyer, Parliamentary State Secretary of the Federal Ministry Economics and Technology of the Federal Republic of Germany, also underlined the mutual benefit of the Kazakh-German partnership.
Mr Beckmeyer noted at the meeting:
"The Fund's projects for the development of new industries and privatisation are interesting for German business. They open up new opportunities for enhancing our fruitful cooperation.”
Following the meeting, the top managers of the Fund invited representatives of German business to attend the International Forum of Sovereign Wealth Funds to be held in Astana on September 5-7, 2017.