Tokayev made it clear that denationalisation opened up ample opportunities for domestic businesses.
On February 11, President of Kazakhstan Kassym-Zhomart Tokayev attended the Samruk Business Forum that aimed to support domestic entrepreneurship. Speaking at the forum, the leader of Kazakhstan dwelt on the denationalisation of the national economy and the benefits of privatisation, the press office of Akorda reports.
Tokayev made it clear that Kazakhstan was determined to denationalise the national economy. Noting that such approaches opened up ample opportunities for domestic businesses and potential investors, the President said 700 state-owned enterprises, 112 of which are affiliated with Samruk Kazyna, would be privatised by 2025.
The leader of Kazakhstan focused on three key vectors. First, privatisation should avoid giving rise to monopoly and being irrational, which causes damage to the economy.
Second, the committing of assets to entrepreneurs is to reduce the burden on the budget. An entrepreneur should make a profit by exporting his goods and services to the market, and not ‘squeeze out’ budgetary funds in the form of grants, benefits or other preferences.
Third, privatization has been launched to get concrete economic returns. Privatisation of any facility means improving its profitability and enhancing its contribution to the economic conveyor.
