On November 30, the President of the Republic of Kazakhstan Nursultan Nazarbayev, ordered the government to produce a privatization program by including all state-owned companies, including companies that are part of Samruk-Kazyna and Baiterek, the sovereign wealth-funds.

As a result, the Ministry of National Economy has recently published a list of the State-owned companies that are to be privatised in 2016-2020. Among the companies listed for privatisation are JSC Kazgeology, the International Centre for Cross-Border Cooperation Khorgos, JSC Astana International Airport, although details currently remain rather vague as to what actually will be “privatised” and how.

Further, companies such as JSC Air Astana, JSC Qazaq Air, JSC Kazakhtelecom, JSC NAC Kazatomprom, JSC Kazakhstan Temir Zholy, JSC Samruk-Energy, JSC Tau-Ken Samruk, KMG International N.V are to undergo an Initial Public Offering (IPO), again with details still rather vague.

For more details and the full list of companies published for privatisation please contact Assel Kulisheva at awk@mwp.kz.