Joint Stock Company Sovereign Wealth Fund Samruk-Kazyna was founded in accordance with the Decree of the President of the Republic of Kazakhstan, dated October 13, 2008 № 669 ‘Оn some measures on competitiveness and sustainability of the national economy’, and by the Decree of the Government of the Republic of Kazakhstan, dated October 17, 2008 № 962 ‘Оn measures on realization of the Decree of the President of the Republic of Kazakhstan № 669’, by the merging of two joint stock companies Kazakhstan Holding for the Management of State Assets SAMRUK and the KAZYNA Sustainable Development Fund.
Sovereign Wealth Fund Samruk-Kazyna is established in order to enhance the competitiveness and the sustainability of the national economy, as well as prevent any potential negative impact of changes in the world markets on the economic growth of the country.
The key objective of Samruk-Kazyna is to manage shares (shares of participation) of national development institutions, national companies and the other legal entities that it owns, in order to maximize their long-term value and competitiveness in world markets.
The main principles of the Fund's activities are:
- Safeguarding interests of the State as the Sole Shareholder of the Fund;
- Transparency, efficiency and flexibility of the Fund and its companies;
- A systemic and effective manner of decision making and execution;
- Commitment and accountability.
Main directions of the Fund's activities are:
- Support on the modernization and diversification of the national economy;
- Support on economic stabilization in the country;
- Enhancing the efficiency of the companies’ activities.
The key direction for the Fund and its companies is the modernization and diversification of the national economy in the framework of the Annual Addresses of the President of Kazakhstan, ‘Strategy of Industrial and Innovation Development of Kazakhstan for 2003-2015’.
The Fund provides maximum support to the Government of Kazakhstan, promptly and efficiently responding to the need for attracting investments into the economy, becoming more active in the regions, strengthening inter-industry and inter-regional links, and making maximum use of available advantages and opportunities.
Efficient diversification and modernization of the national economy is carried out through active investments, especially in such prioritized sectors as:
- Oil and gas sector;
- Power energy;
- Chemistry and petrochemicals;
Key objectives of the Fund are:
- To develop and ensure the implementation of investment projects on a regional, national and international scale;
- To support and modernize existing assets of the Fund Group of Companies;
- To support regional development and the implementation of social projects;
- To support national producers, domestic goods and services.