Head of the government signed order about creation of Stable development fund Kazyna JSC (with addition)

/INTERFAX-KAZAKHSTAN, Astana, March 17, 06/ - In Kazakhstan Stable development fund Kazyna JSC (treasury) will be created. Creation of this fund is stipulated by order of the head of the government About measures on further increase of competitiveness of national economy within industrial-innovation policy of the Republic of Kazakhstan dated March 16, which on Friday was published in official press. By the same order the government was ordered in monthly term to provide approval of memorandum about main principles of activity of Kazyna JSC, and also list of legal entities with participation of the government, possession right and usage with government blocks of shares (stakes of participation) which will be transferred to Kazyna JSC. Besides, the government should in three-month term to provide introduction of corresponding changes and additions in normative legal acts. Control over execution of this order, enforced from the day of its signing, is put upon administration of head of the government. Knowledgably source earlier informed agency Interfax-Kazakhstan, that in management of this fund will be transferred government blocks of shares of state development institutes. As it is known, president of Kazakhstan Nursultan Nazarbayev, applying on March 1 with annual message to the country's people, ordered the government "for coordination of actions of state development institutes to form managing company, which will consist of all development institutes". It is assumed, that besides coordinating function created structure will accumulate state funds for acquiring abroad attractive assets, particularly, small blocks of shares of transnational corporations, working in those sectors, which are "points of growth" in Kazakhstan. In Kazakhstan, starting from 2001, within realization of strategy of industrial-innovation development state development institutes were created, particularly, Development bank of Kazakhstan JSC, investment and innovation funds, center of marketing-analytical researches, corporation of insurance of export credits. [2006-03-17]