Joint Stock Company Sovereign Wealth Fund «Samruk-Kazyna» was founded in accordance with the Decree of President of the Republic of Kazakhstan dated October 13, 2008 № 669 «Оn some measures on competitiveness and sustainability of 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 President of the Republic of Kazakhstan № 669» by merge of two joint stock companies Kazakhstan Holding for the Management of State Assets SAMRUK and KAZYNA Sustainable Development Fund.
Sovereign Wealth Fund «Samruk-Kazyna» is established in order to enhance competitiveness and sustainability of national economy. As well as prevent any potential negative impact of changes in the world markets on 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 other legal entities it owns to maximize their long-term value and competitiveness in the world markets.
The main principles of the Fund's activity are:
- safeguarding interests of the state as the sole shareholder of Fund;
- transparency, efficiency and flexibility of Fund and Companies;
- systemic and effective manner of decision-making and their execution;
- commitment and accountability.
Main directions of Fund's activity are:
- support to modernization and diversification of national economy;
- support to economic stabilization in the country;
- enhancing efficiency of the Companies activity.
The key direction for Fund and Companies shall be modernization and diversification of national economy in the framework Annual Addresses of the President of Kazakhstan, Strategy of Industrial and Innovation Development of Kazakhstan for 2003-2015.
Fund is to provide maximum support to the Government of Kazakhstan, promptly and efficiently responding to the needs in attracting investments into real economy sector, 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 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 Fund are:
- to develop and ensure implementation of investment projects of regional, national and international scale;
- to support and modernize existing assets of Fund Group of Companies;
- to support regional development and implementation of social projects;
- to support national producers, domestic goods and services