Kazakhstan to establish national privatization office by June 1

Kazakhstan to establish national privatization office by June 1

By June 1, Kazakhstan will establish a national privatization office. This is one of the initial measures to promote competition and reduce the state’s participation in the economy, as stipulated in the presidential decree on economic liberalization. The creation of the national office will not involve establishing a separate legal entity. The commission will be composed of public figures, experts, and representatives from law enforcement agencies, the Ministry of Finance, and the Ministry of National Economy. The Agency for the Protection and Development of Competition notes that work is currently underway to develop a methodology for compiling the list of privatization objects. The relevant agency aims to minimize the risks of new monopolies emerging.

“As an entity not operating within the government, we intend to work as openly as possible according to the list with the involvement of experts. The decree clearly specifies that the list we compile and the decision we make regarding the transfer of an enterprise to a competitive one will be recorded by the Supreme Council for Reforms under the President of Kazakhstan,” said Marat Omarov, Chairman of the Agency for the Protection and Development of Competition of Kazakhstan.