ON OCTOBER 20-21 INTERNATIONAL CONFERENCE "CORPORATE GOVERNANCE AND INVESTMENT CLIMATE IN KAZAKHSTAN" TO BE HELD IN ALMATY

/IRBIS, Andrey Tsalyuk, October 19, 05/ - By the initiative of the Work group on corporate governance, which is acting under Financial institutions association of Kazakhstan, on October 20-21 of 2005 international conference "Corporate governance and investment climate in Kazakhstan" will be held in Almaty. Organizers of the Conference are Kazakhstan Agency for financial market and financial organizations regulation and supervision (FSA), Ministry of economy and budget planning of Kazakhstan, Financial institutions association of Kazakhstan, Efficient Management Program of US Trade Ministry, Centras Securities JSC (Almaty). The purpose of the conference, in its organizers' opinion, is actualization of the problem on corporate governance development as the major means for improvement of investment climate in Kazakhstan and development of Kazakhstan stock market. The conference will be held with participation of representatives of Kazakhstan President Administration, Ministry of economy and budget planning of Kazakhstan, National Bank of Kazakhstan, FSA, US embassy in Kazakhstan, as well as international experts in the corporate governance sphere: Efficient Management Program of US Trade Ministry, rating agencies Moody's and Standard & Poor's. Organizers expect participation of officials of Ernst & Young, Norton Rose, Kazakhstan stock exchange (KASE), RTS Stock exchange, Hermitage Capital Management, biggest companies and banks of Kazakhstan in the conference (also as speakers). It's planned to give a detailed analysis of corporate governance development in the world and countries in transition during the conference, examine these countries' experience in this sphere, analyze interconnection between corporate governance, investment climate and stock market development. Current problems of corporate governance introduction in Kazakhstan, practical experience of Kazakhstan investors will be examined, and further measures on corporate governance system development in Kazakhstan will be planned. Within the conference there will be held the next conference of Issuers council, during which it's planned to examine and accept Business ethics code. Besides, on the second day of the Issuers council there will be examined offers of the Work group on improvement of Kazakhstan's acting legislation in corporate governance sphere. Organizers note that holding of the conference is planned within the program of corporate governance development in Kazakhstan, which was worked out by the Work group on corporate governance and approved by the Issuer council. Before within the mentioned program there was worked out and accepted the Corporate governance code, accepted FSA's resolution about compulsory following this code by companies, whose securities were quoted on KASE, corrections in the acting legislation were worked out. Detailed information concerning the conference and program of the measure is available by telephone in Almaty 59 88 77 or at www.centras.kz [2005-10-19]