NAC Kazatomprom JSC together with Samruk-Kazyna JSC held a conference Responsible business is a key element of the country’s sustainable development.
The event was organized to discuss issues of integrity and business ethics in the business environment of Kazakhstan in support of national priorities for the formation of a transparent and competitive economy and anti-corruption measures.
Representatives of Samruk-Kazyna, Kazatomprom, state authorities, PwC Kazakhstan, business community, the OECD Anti-Corruption Network and other organizations attended the conference.
"Today’s conference is a significant event for the development of business climate in Kazakhstan. The integrity and responsible business conduct has not yet received due attention in our country, and many companies still perceive compliance and business ethics as formal requirements rather than a critical factor for long-term successful development”, emphasized Arman Argingazin, Chairman of Kazatomprom Board of Directors. “Kazatomprom Board of Directors has identified the development of corporate governance and integrity as one of the company’s strategic priorities. We are introducing the same high standards in all our subsidiaries, forming a unifies culture of integrity in Kazatomprom Group of companies”.
"This year, the Organization for Economic Co-operation and Development conducted another round of monitoring of the implementation of the Istanbul Action Plan, the results of which showed significant progress of our country. A separate section was devoted to the corporate sector, emphasizing the importance of business in the overall effort to fight corruption”, said Meirzhan Yussupov, the CEO of Kazatomprom. “In anticipation of Kazakhstan’s application to join the OECD, it is particularly important to develop and open dialogue in the business community on corporate governance and business integrity. Discussion of these topics at the expert level will help to develop effective approaches to the introduction of international standards in Kazakhstani practice".
Meirzhan Yussupov also noted that Kazatomprom’s experience demonstrates the benefits of good conduct for business, such as increasing investment attractiveness, improving conditions for attracting financing, strengthening market positions, attracting global partners and reducing business risks.
"As the country's largest holding, Samruk-Kazyna Fund is aware of its special role in shaping a culture of responsible business conduct. However, we understand that achieving real changes at the country level requires the combined efforts of many stakeholders", noted in his speech Yelzhas Otynshiyev, the Co-managing Director for Strategy and Asset Management of Samruk-Kazyna JSC.
The experts agreed that the most relevant areas for short-term action are collective initiatives aimed at creating incentives for responsible business conduct. In addition, the development of national standards of corporate governance and integrity requires the creation of a professional community. Interaction with OECD Anti-Corruption Network will be strengthened to use the best global practices in Kazakhstan.
Participants considered the role of corporate governance, compliance and ESG initiatives in strengthening trust, increasing transparency and minimizing risks, which ultimately significantly enhances competitiveness, and shared successful practices for implementing these principles. Particular attention was paid to the interaction of business, government and society to create an ethical and competitive business environment.
Kazatomprom plans to participate in the development of new mechanisms to stimulate honest business and in creation of new business standards that correspond to the best international practices. Thus, further development of integrity and business ethics will help strengthen trust in the business environment of Kazakhstan and promote the creation of a transparent and efficient economy.
For more information, please contact:
Public Relations and Media Inquiries
Altynay Karibzhanova, Chief Expert, Public Relations
Tel: +7 7172 45 80 63
Email: pr@kazatomprom.kz
Investor Relations Inquiries
Botagoz Muldagaliyeva, Director, Investor Relations
Tel.: +7 7172 45 81 80/69
Email: ir@kazatomprom.kz
About Kazatomprom
Kazatomprom is the world's largest producer of uranium with the Company’s attributable production representing approximately 20% of global primary uranium production in 2023. The Group benefits from the largest reserve base in the industry and operates, through its subsidiaries, JVs and Associates, 27 deposits grouped into 14 mining assets. All of the Company’s mining operations are located in Kazakhstan and extract uranium using ISR technology with a focus on maintaining industry-leading health, safety and environment standards (ISO 45001 and ISO 14001 certified).
Kazatomprom securities are listed on the London Stock Exchange and the Astana International Exchange. Kazatomprom is the national atomic company in the Republic of Kazakhstan, the Group's primary customers are operators of nuclear generation capacity, the principal export markets for the Group's products are China, South and Eastern Asia, Europe and North America. The Group sells uranium and uranium products under long-term contracts, short-term contracts as well as in the spot market, directly from its headquarters in Astana, Kazakhstan, and through its Switzerland-based trading subsidiary, Trade House KazakAtom AG (THK).
For more information, please see the Company website at www.kazatomprom.kz.
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