Meeting of the Government of the Republic of Kazakhstan on the issue of privatization

The process of privatization was discussed during the Meeting of the Government of the Republic of Kazakhstan chaired by the Prime Minister Bakhytzhan Sagintayev on July 17, 2018. One of the co-reporter was Aidar Arifkhanov, Chairman of the Management Board of “National Managing Holding “Baiterek” JSC.

A. Arifkhanov noted that the work of the holding on the issue of privatization includes realization of seven subsidiaries of “Investment Fund of Kazakhstan” JSC (IFK), eight subsidiaries of “National Agency for Technological Development” JSC (NATD), as well as search for strategic partners or investors for NATD and “Zhilstroysberbank of Kazakhstan” JSC.

“To date, the procedure of Kazakhstan's investment fund assets privatization is almost complete. Five of seven privatized assets of IFK have been realized, liquidation procedures are being carried out for the two assets” - A. Arifkhanov said.

According to the Chairman of the Management Board of the Holding, the financial consultant is negotiating with eleven international companies to find an investor for Zhilstroysberbank. It is expected that the pre-investment expertise on privatization will be continued in accordance with the changes in the market and introduction of the necessary amendments to the Law “On Housing Construction Savings, scheduled for September 2018.