Over 600 state-controlled businesses set for sale in privatization process
Cashing in Kazakhstan: A Look at the 673 Private Ventures Up for Grabs
Are you feeling lucky, partner? If so, Kazakhstan might just have the investing opportunity you've been waiting for! The Kazakh government has unveiled a hefty slate of 673 state-owned goodies ready for private purchasers. The deets? Picture this: 673 objects, ripe for the picking.
Eraly Zhamaubayev, the Minister of Finance, dropped the bombshell at a government meeting, according to Kazinform. But here's the lowdown: as of May 2023, only 27 objects have been cashed out and switched to trust management, with the right to later claim 'em back, to the tune of 16.7 billion tenge.
Currently, a whopping 36 objects are being auctioned off, while five unfortunate souls are in the process of being liquidated. And that leaves a whopping 605 state-owned objects still hanging in the balance.
Now, if you're wondering if these numbers add up, fear not! According to the Comprehensive Privatization Plan for 2021-2025, it's all above board. But just to add a pinch of intrigue, the Minister didn't specifically share how many of these ventures have been slurped up yet.
But hey, no need to worry. A quick glance at Kazakhstan's recent financial history doesn't reveal any red flags. It's been on a cleaning spree, uncovering a not-so-shabby 87 billion tenge worth of financial sketchiness through state audits.
However, the audit doesn't stop there. A whopping 448,500 state procurement procedures worth an eyeball-popping 3.9 trillion tenge have been evaluated through desk reviews. And get this: almost 13,000 procedures had a few too many shady dealings for comfort.
So, if you're a thrill-seeker, investing in Kazakhstan might be just the adrenaline rush you need! But remember: always do your homework, find the facts, and never gamble what you can't afford to lose. Happy hunting!
P.S. The Comprehensive Privatization Plan of 2021-2025 in Kazakhstan is aimed at shedding approximately 85% of state involvement in the economy, excluding critical infrastructure like water, power, and heat facilities.
- The 673 state-owned ventures up for grabs in Kazakhstan, as part of the Comprehensive Privatization Plan for 2021-2025, include objects in diverse sectors that are yet to be fully procured.
- Despite irregularities found in some state procurement procedures worth a staggering 3.9 trillion tenge, Kazakhstan remains an attractive destination for business, offering numerous opportunities for private investors.
- The Minister of Finance, Eraly Zhamaubayev, has highlighted that only a portion of the 673 state assets have been sold or put under trust management, with a significant number still available for procurement.
- The Kazakh government aims to reduce state involvement in the economy by approximately 85%, excluding critical sectors like utilities, while ensuring transparency and eliminating tenge-related financial irregularities.
