Azerbaijan, Baku, Feb. 16 / Trend E. Kosolapova/
Kazakh National Welfare Fund Samruk-Kazyna will create a draft project of development strategy for 10 years by late March, the fund's head Umirzak Shukeyev, who was appointed to this post in December, said.
"According to a new law on the Fund, a development strategy for ten-year period should exist. We have a five-year plan, it is good. But the strategy has not been determined. We create a draft strategy which will be submitted to the board of directors in the first quarter of 2012," Shukeyev said in an interview with Russian newspaper Kommersant.
Shukeev said that the strategy will follow from the new law on the fund.
"The strategy should answer two key questions. How can we increase the market value of our companies? And how are the better practices of corporate governance implemented?" Shukeyev said.
The Kazakh President signed a law on National Welfare Fund on Feb. 1.
Kazakh National Welfare Fund Samruk-Kazyna is a joint stock company in Kazakhstan, which wholly or partially owns many important companies in the country. The state is the only shareholder of the Fund. Samruk-Kazyna controls the assets worth $86.9 billion.
