State fund Kazyna is planning to open the network of representatives, including abroad

/INTERFAX-KAZAKHSTAN, Astana, August 22, 06/ - Kazakhstan state Fund of stable development Kazyna (Kazna) JSC reviewed the preliminary totals of its activity and set up the priority directions of development. As the press-service of the state fund informed, the respective questions were discussed on Tuesday in Astana at the meeting of specialized council under chairmanship of vice prime minister of economics and budget planning Karim Masimov. The governing body of the state fund, as it is noted in the spread press- release, "had reported about the work done and submitted the plans about increasing competitiveness of the national economics in the frames of industrial-innovative policy". So it is noted in the press-release, that "till the end of year the conception of creation the network of representatives of Kazyna JSC and specialized representatives of development institutions abroad will be elaborate". According to the message, at the present time it is elaborated the conception of exiting of state fund through development institutions "to the foreign markets, and also the conception of cooperation with local and international financial institutions on joint realization of investment projects". Along with it, as it is informed in the press-release, "with objective of determining its "niche" in the system of world economy it will be held the focused investigations on development of five master-plans on priority clusters". At the same time the state fund together with institutions of development is planning to complete the "joint analysis of potential large investment and innovative projects in the perspective branches". Besides, it is informed in the press-release, "it will be elaborated the proposals on purchasing of two Start-up companies through foreign venture funds", and also "on stake non-controlling participation (of the state fund - IF-K) in the 111 new high-technological companies". In the press-release it is also informed that to the staff of board of directors of Kazyna JSC and number of institutions of development it is supposed to introduce the representatives of public association of businessmen Atameken (Rodina) as independent directors. The appropriate memorandum about interaction and cooperation was signed between state fund and this businessmen organization. According to the message, for the past period of year 2006 the joint authorized capital of state institutions of development of Kazakhstan "increased by 22 bn. 593.6 m. tenge and as of July 1 totaled 144.2 bn. tenge (current 124.24/$1). Besides, it is noted in the press-release, that "the financing of 109 projects is started, by the total sum of 2.560 m. US dollars (including) with participation of institutions of development 792.6 m. US dollars. As it is known, the state fund Kazyna was created on March of the current year by the decree of the head of the state with objectives of coordination the activities of state institutions of development: Development bank Kazakhstan JSC, Investment fund of Kazakhstan JSC, National innovative fund JSC, Fund of development of small enterprisers JSC, Center of marketing- analytical researches JSC, State insurance company of export credits and investments of Kazakhstan insurance JSC, Kazinvest LLP. These structures were created in republic, beginning from year 2001 in the frames of diversification of the Kazakhstan economics. [2006-08-23]