Kazakhstan to transfer 650 enterprises to private sector

/AzerNews/

By Aynur Jafarova

Kazakhstan plans to transfer some 650 state-owned enterprises to the private sector within the framework of the privatization during the next three years.

The news was announced by Kazakhstan’s Deputy Investment and Development Minister Yerlan Sagadiyev at a round table on the topic "Kazakhstan, Poland investment cooperation",Trend Agency reported.

“The main investor in our country is the private sector,” he said. “Currently, the share of the state does not exceed 25 percent. The government has decided to cut it. It is planned to sell 650 state-owned enterprises over three years within the framework of the extensive privatization in order to bring the state share in accordance with the EU standards.”

In her remarks Deputy Chairman of the Board of Kaznex Invest JSC Asel Ergazieva said representatives of 30 large enterprises of Poland are in Kazakhstan. The companies which are planning to invest in the country's economy include the companies of mining and smelting sector, motor-car construction, logistics and energy.

Earlier Chairman of the Agency for Competition Protection Galim Orazbakov said Kazakhstan has chosen 590 companies among 6,000 communal enterprises and social corporations operating in the country for privatization.

This is the second stage of privatization. Holding the second stage of privatization is aimed at reducing the state's presence in the entrepreneurship.

The second wave of privatization planned for 2014-2016 will involve 853 state companies.