WEEKLY REVIEW: People of Kazakhstan now may invest into modern financial institutes: PM Serik Akhmetov


WEEKLY REVIEW: People of Kazakhstan now may invest into modern financial institutes: PM Serik AkhmetovKazakhstan has launched issue of shares under the People’s IPO Program. Implementation of the projects under the State Program of Accelerated Industrial and Innovative Development has given an impulse to economic development of a number of regions.

On Monday, October 29, Prime Minister Serik Akhmetov held a meeting to discuss progress of realization of the People’s IPO Program in the country. The meeting mainly focused on the placement of KazTransOil JSC equity stake, the cost and the number its shares to be distributed. The same day the National Welfare Fund Samruk-Kazyna JSC approved the offering price for KazTransOil shares within the People’s IPO Program at 725 tenge per share.

Serik Akhmetov met with Dr. Babatunde Osotimehin, Under-Secretary-General of the United Nations and Executive Director of UNFPA, the United Nations Population Fund on Monday at the house of government in Astana. The sides discussed the problems of further cooperation between Kazakhstan and the organization, in particular, in the sphere of healthcare, and exchanged views on the situation in Afghanistan.

Chairman of the Kazakh Agency for land resources Kadyrkhan Otarov told Tuesday session of the Government there were discovered 7 thousand unexploitable plots of land. Minister of Finance Bolat Zhamishev promised the amendments to land legislation increasing the land tax rates would be submitted in November. After careful discussion, S. Akhmetov instructed the ministries of economic development and trade, finance and agriculture to put forward their proposals. In addition, he gave the instruction to carry out detailed revision of unused land plots.

The Government approved the documents giving ‘green light’ to the implementation of the People’s IPO Program. “Today we are launching the People’s IPO Program. A lot of ground, organization, technical and financial work was done. We have garnered support and assistance from the international experts, consultants, banks, and financial institutes. A lot of people worked on that program to make it happen,” Prime Minister Akhmetov said on Tuesday.

He stressed the People’s IPO was an unprecedented program for Kazakhstan and its success rested mainly upon PR campaign and people’s awareness.

On Wednesday, October 31, Vice Prime Minister, Minister of Industry and New Technologies Asset Issekeshev told Kazakh senators about the progress of implementation of the State Program of Accelerated Industrial and Innovative Development at the Upper Chamber of the Kazakh Parliament. He noted in order to speed up the process of realization it was necessary to intensify activity of the special economic zones. In addition, the tenth special economic zone would be set up in Zhambyl region. According to Minister Issekeshev, since the start of this program production of industrial products in the special economic zones has increased ninefold. Over the period of two and a half years 100 000 work places have been created within the program. A. Issekeshev also emphasized the realization of the program gave an impulse to economic development of a number of regions.

The draft law “On Amendments to the Law “On the Republican Budget for 2012-2014” was approved at the plenary session of Majilis on Wednesday.

Prime Minister Serik Akhmetov had a telephone conversation with his Ukrainian counterpart Mykola Azarov on Thursday (November 1). They touched upon a wide range of relevant issues of Kazakh-Ukrainian commercial and economic and cultural cooperation. A high level and constructive character of the bilateral relations was praised.

The same day the Kazakh Prime Minister traveled to South Kazakhstan in order to meet with Skymkent businessmen. In the city S. Akhmetov familiarized with new projects implemented in the South Kazakhstan region under the Industrialization Map, in particular 11 projects in pharmaceutical, food, and construction spheres.

After that Prime Minister Akhmetov attend educational institutions, energy facilities and industrial objects in Turkestan and Kentau.