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Government/Foreign Direct Investment

Kazakhstan Privatization Forum

Outlining the emerging investment opportunities in this key Central Asian economy

Astana |
Speakers include:
His Excellency Karim Massimov

His Excellency Karim Massimov

Prime Minister

His Excellency Bakhyt Sultanov

His Excellency Bakhyt Sultanov

Minister of Finance

Umirzak  Shukeyev

Umirzak Shukeyev

Samruk Kazyna JSC

Overview

The privatization of more than 60 state owned firms, and many more smaller ones, is firmly underway in Kazakhstan. Announced late last year, the Government’s plans are ambitious and far reaching, as the State builds on its membership of the World Trade Organization, aiming to join the G30 and OECD in the coming years.

With companies including KazMunayGas, Kazakhtelecom, Kazakstan Temir Zholy, Kazatomprom and Samruk Energy on the market, a wealth of opportunities exists for regional and international investors keen to get a foothold in this key gateway economy.

The Financial Times upcoming Kazakhstan Privatization Forum, co-organized in partnership with Samruk-Kazyna, will provide comprehensive information on how the process will work in practice, the drivers behind it and the developments to date.

The event will be held on Wednesday 26th May 2016, as a part of the Astana Economic Forum. The agenda will feature keynote contributions from Prime Minister Massimov and senior figures who are leading the privatization drive. Attendees will benefit from in-depth analysis on the economic outlook for Kazakhstan, following the reforms and restructuring pursued by the authorities. Panel discussions will focus on the investment prospects in the energy and infrastructure sectors and will include insights from the Chief Executive Officers of some of the companies marked for privatization, as well as financiers and other experts in these markets.

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fallback Add to my Calendar 05/26/2016 09:00:0005/26/2016 13:00:00trueKazakhstan Privatization ForumThe privatization of more than 60 state owned firms, and many more smaller ones, is firmly underway in Kazakhstan. Announced late last year, the Government’s plans are ambitious and far reaching, as the State builds on its membership of the World Trade Organization, aiming to join the G30 and OECD in the coming years.With companies including KazMunayGas, Kazakhtelecom, Kazakstan Temir Zholy, Kazatomprom and Samruk Energy on the market, a wealth of opportunities exists for regional and international investors keen to get a foothold in this key gateway economy.The Financial Times upcoming Kazakhstan Privatization Forum, co-organized in partnership with Samruk-Kazyna, will provide comprehensive information on how the process will work in practice, the drivers behind it and the developments to date.The event will be held on Wednesday 26th May 2016, as a part of the Astana Economic Forum. The agenda will feature keynote contributions from Prime Minister Massimov and senior figures who are leading the privatization drive. Attendees will benefit from in-depth analysis on the economic outlook for Kazakhstan, following the reforms and restructuring pursued by the authorities. Panel discussions will focus on the investment prospects in the energy and infrastructure sectors and will include insights from the Chief Executive Officers of some of the companies marked for privatization, as well as financiers and other experts in these markets.Kazakhstan-Privatization-Forum1ecba1747b1ec1ffb86bc569e3bef888MM/DD/YYYY

Agenda - 26th May

  • 9:00am
    Registration and refreshments
  • 9:30am
    Opening remarks

    Jack Farchy, Moscow and Central Asia Correspondent, Financial Times

  • 9:35am
    Welcome Keynote Address

    His ExcellencyKarim Massimov, Prime Minister, Republic of Kazakhstan

  • 10:00am
    Address: Progress update on the strategy and implementation of Kazakhstan’s privatization programme

    Ruslan Dalenov, Deputy Minister of Finance, Republic of Kazakhstan

  • 10:15am
    Onstage interview: The drivers for privatization in Kazakhstan

    Umirzak Shukeyev, Chief Executive Officer and Member of the Management Board, Samruk-Kazyna JSC

    Erbolat Dossaev, Chairman of the Board, Baiterek JSC

    Nurlybek Malelov, Chairman of the Executive Board, KazAgro JSC

    Interviewed by:   Jack Farchy, Moscow and Central Asia Correspondent, Financial Times 

  • 10:40am
    Panel: Reviewing the investment opportunities in Kazakhstan’s natural resources

    Kazakhstan is Central Asia’s biggest energy producer and the current privatization drive looks set to transform the ownership of key organizations in the oil, gas, nuclear and other sectors. How will the privatizations happen in practice and under what conditions?

    • What the outlook for growth and development in Kazakhstan’s energy sector - how influenced is it by global commodity and currency developments?
    • Analyzing and evaluating the organizations in the privatization plan – performance and prospects
    • What are the routes to investment and ownership for local, regional and international investors? Assessing Government support and incentives
    • Trends and developments in financing acquisitions in this sector

    Panelists:

    Berik Beisengaliyev, Managing Director of Asset Optimization, Samruk-Kazyna JSC

    Almassadam Satkaliyev, Chairman, Samruk-Energy JSC

    Daniyar Berlibayev, Deputy Chairman of the Management Board for Corporate Development, KazMunayGas JSC

    Tomasz Telma, Director, Europe and Central Asia, International Finance Corporation

    Moderated by: Jack Farchy, Moscow and Central Asia Correspondent, Financial Times

  • 11:30am
    Break
  • 11:50am
    Panel: Finding value in infrastructure in Kazakhstan

    Organizations from the port, railway, telecoms, airport and airline industries are key infrastructure targets earmarked for privatization through sale or IPO in Kazakhstan in the coming years. With the country often described as a gateway to Central Asia and China, how attractive are these organizations to investors and which will offer the best value in the long-term?

    • Evaluating the profile and prospects for the infrastructure companies on the market
    • Rewards and risk of investing in national infrastructure - public/ private – cooperation or competition?
    • How are infrastructure investments being offered – what level of Government supports are available?

    Panelists:

    Askar Mamin, President, KTZ JSC 

    Baljeet Kaur Grewal, Managing Director of Strategy and Portfolio Investment, Samruk- Kazyna JSC

    Ekaterina Miroshnik, Director for Infrastructure, Russia, Central Asia and Mongolia, The European Bank for Reconstruction and Development

    Richard Tollis, Partner Transaction Advisory Services, EMEIA Infrastructure Leader, EY

    Klaus Mangold, Chairman of the Supervisory Board, TUI AG

    Moderated by: Jack Farchy, Moscow and Central Asia Correspondent, Financial Times

  • 12:50pm
    Closing remarks from the Financial Times
  • 1:00pm
    Close

Speakers (13)

His Excellency Karim Massimov

His Excellency Karim Massimov

Prime Minister

Karim Massimov is Prime Minister of the Republic of Kazakhstan, a position he has held since April 2014.  He has previously served as Prime Minister from 2007 to 2012, as Deputy Prime Minister between 2006 and 2007 and as Minister of Transport and Communications. From September 2012 Prime Minister Masimov was Head of the Presidential Administration of Kazakhstan.   In the past he served as Chairman of the Board of Almaty Trade and Finance Bank and Chairman of the Board of the People’s Savings Bank.  He worked as Chief Economist and Head of Department at the Ministry of Labour, was a senior specialist of the representation office of the Ministry of External Economic Ties in Urumqi (China) and Managing Director of the Kazakh Trading House in Hong Kong.  Prime Minister Massimov graduated from the Beijing Language Institute, Wuhan University School of Law (China) and, Kazakh State Academy of Management.  He completed an internship at Columbia University and is a Doctor of Economics.

His Excellency Bakhyt Sultanov

His Excellency Bakhyt Sultanov

Minister of Finance

Bakhyt Sultanov was appointed as the Minister of Finance of the Republic of Kazakhstan in August 2013.  He was previously Deputy Head of the Executive Office of the President and prior to that he served as an Aide to the President.  From 2007 to 2010 Minister Sultanov was Minister of Economy and Budget Planning.  Previous roles have included serving as Chairman of the Agency on Statistics; Vice Minister of Finance, and Vice Minister of Economy and Budget Planning, Between 1999 and 2003 he was Deputy Director, then Director of the Budget Policy Department at the Ministry of Economy and Budget Planning.  Between 1994 and 1999 he held positions at the Ministry of Finance including Deputy Director of the Treasury; Deputy Director of the Budget Department and Director of State Purchases Department; Deputy Chief of Cash Assets and State Directorate of the Treasury; and Economist, Deputy Chief of State Securities Directorate and Head of Sector.   Minister Sultanov graduated from the Kazakh National Technical University and Kazakh State Academy of Management, and holds Bachelor Degrees in Electrical Engineering and Economy.

Umirzak  Shukeyev

Umirzak Shukeyev

Chief Executive Officer and Member of the Management Board,
Samruk Kazyna JSC

Umirzak Shukeyev serves as Chief Executive Officer and Member of the Management Board of Samruk Kazyna JSC, having taken office in 2011. Under his leadership, he has implemented cost minimisation policies involving non-core assets, downsizing office and management personnel, achieving synergies across the organisation, and the implementation of advice IT solutions in business management.  In 2014 Samruk Kazyna launched the Transformation Program, a comprehensive set of measures to shift the Fund’s role from a passive shareholder of Government assets to an active investor with the long-term aim of increasing the value of the portfolio.  Mr Shukeyev has previously held Government positions including Deputy Prime Minister of Kazakhstan and Minister of Economics and Trade.  He was also head of the Kostanay Oblast of Astana City and the South Kazakhstan Olast.  His career started at the R&D Institute for Automation and Planning Processes as an Associate Scientist and leading Research Fellow, and he was a Consultant of the Supreme Economic Council under the President of the Republic of Kazakhstan. He graduated in Economics and Mathematics, and completed postgraduate studies at the Moscow Institute of Economics and Statistics. He took the Stanford Executive Programme at the Stanford School of Business.   

Erbolat Dossaev

Erbolat Dossaev

Chairman
Baiterek JSC

Erbolat Dossaev is Chairman of Baiterek JSC and was formerly Minister of National Economy of the Republic of Kazakhstan.  He has previously served as the Minister of Economy and Budget Planning;  Minister of Economic Development and Trade, and Minister of Health and Minister of Finance.  Between 2006 and 2012 Minister Dossaev was Chairman of the Board of Directors of JSC KazInvestBank.  In the past he has held positions including as Member of the Board of Governors of the European Bank for Reconstruction and Development in Kazakhstan; Member of the Board of the National Bank; Chairman of the Board of Directors of the Development Bank of Kazakhstan, and Chairman of the Agency of the Republic of Kazakhstan on the regulation of natural monopolies, protection of competition and the support of small business.  He has served as Vice Minister of Finance, Vice Minister of Energy, Industry and Trade and Advisor to the Prime Minister.  In 1997 Minister Dossaev was Deputy Chairman of the Board of JSC Bank TuranAlem and Chairman of the Board of JSC ATF Bank.  He was educated at Almaty Energy Institute and the Moscow State Technical University.

Almassadam Satkaliyev

Almassadam Satkaliyev

Chairman
Samruk-Energy JSC

Almassadam Satkaliyev is Chairman of the Board of Samruk-Energy JSC.  He was appointed in 2013.  In Government he has served as Deputy Minister of Energy and Mineral Resource.  Past roles have included senior executive and Board positions at Samruk Kazina JSC, Kazakhstan Company on Electricity Grid (KEGOC) JSC;  Samruk Kazyna; KazTransOil JSC, and TaSSaT Ltd.  Other posts he holds include membership of the Board of Directors of the Kazakhstan Electricity Association, Chairman of the Commission on the disposition of assets and facilities of Samruk Energo JSC; Chairman and Member of the Presidum of the National Chamber of entrepreneurs, and Chairman of the National Committee of the World Energy Council.  Mr Satkaliyev holds a PhD in Economics from the Faculty of Mechanics and Mathematics of the Al-Farabi Kazakh National University.

Balijeet Kaur Grewal

Balijeet Kaur Grewal

Managing Director, Strategy and Portfolio Investment
Samruk-Kazyna JSC

Baljeet Kaur Grewal is Managing Director, Strategy and Portfolio Investment at Samruk-Kazyna JSC. She has 18 years of experience in senior management positions in banking and financial companies including as Senior Advisor of the National Fund Development Agenda at the Asian Development Bank; Managing Director and Vice Chairman at Kuwait Finance House investment research subsidiary of the Kuwait Investment Authority; Vice President and Head of Investment Banking Research at Maybank Malaysia; and as Associate Director at ABN AMRO Bank. She has expertise in strategy development, national economic policies and financial/capital markets. Ms Grewal is a Fellow at Cambridge University, holds a degree in International Economics and an Executive MBA from Cambridge University.

Malelov Nurlybek

Malelov Nurlybek

Chairman of the Executive Board
KazAgro JSC

Malelov Nurlybek is Chairman of the Executive Board of KazAgro National Management Holding JSC.  His previous roles have included serving as Chairman of the Executive Board of the Agrarian Credit Corporation JSC between 2012 and 2015; as Chairman of the Executive Board of KazAgroFinance JSC from 2011 and 2012; and as Managing Director and Member of the Executive Board of KazAgro betweeen 2009 and 2011.  Prior to that he held executive positions at ATF Bank OJSC.  He studied at Karanganda State University and started his career at BankTuranAlem CJSC.

Askar Mamin

Askar Mamin

First Deputy Prime Minister of Kazakhstan

Askar Mamin is First Deputy Prime Minister of Kazakhstan. Between 1996 and 2008 he served in various positions including First Deputy Mayor of the City of Astana, Vice-Minister of Transport and Communications, First Vice-Minister of Industry and Trade, MInister of Transport and Communications and Mayor of the City of Astana.  He started his career at Tselintyazhstroy trust, and then worked as the Deputy CEO of the Union of the Innovative Enterprises of Kazakhstan.  He is an Economist and Civil Engineer and was educated at the Tselinograd Construction Institute. In 2008 he was elected a member of the Board of Directors of the Joint Stock Company National Company Kazakhstan Temir Zholy.

Berik Beisengaliyev

Berik Beisengaliyev

Managing Director, Asset Optimization
Samruk-Kazyna JSC

Berik Beisengaliyev is Managing Director of Asset Optimization at Samruk-Kazyna JSC and also holds the position of Chairman of Investment and Innovation Committee. He has more than 15 years of experience in senior positions in the financial and banking companies. At varying times, Mr. Beisengaliyev has served as Managing Director - First Deputy Chairman of the Management Board of ATF Bank JSC, General Director of Astana Capital Investment Group, Chairman of the Management Board of KazAgro Holding. .He has also been a member of the Board of Directors of companies including Temirbank JSC, Halyk Bank of Kazakhstan JSC, Food Contract Corporation JSC, Sibir Bank JSC and others.   Mr Beisengaliyev holds a PhD in Economics

Klaus Mangold

Klaus Mangold

Chairman of the Supervisory Board
TUI AG, Germany

Klaus Mangold is Chairman of the Supervisory Board of TUI AG, Germany, and member of a number of Supervisory and Advisory Boards, including those of Alstom S.A., France, Ernst & Young, United States, and Continental AG, Germany. He also is Chairman of the Supervisory Board of Rothschild GmbH, Frankfurt and Chairman of the Mangold Consulting GmbH, which was founded in 2003. From 2000 until 2010 he was Chairman of the Committee on Eastern European Economic Relations of German Industry. He is Commander of the Legion of Honour (France) and Professor of the European Business School, Schloss Reichartshausen. Mr Mangold was a member of the DaimlerChrysler AG Board of Management from 1995 to 2003, with responsibility for DaimlerChrysler AG's Services division and its Central and Eastern European markets. At the same time, he was CEO of DaimlerChrysler Services AG.  He was previously Chairman of the Board of Management of Quelle AG from 1991 to 1994, and prior to that was a Management Board member and Chairman of the Management Board of Rhodia AG, a subsidiary of the French group Rhône Poulenc, He studied law and economics at the universities of Munich, Geneva, London, Heidelberg and Mainz.

Ekaterina Miroshnik

Ekaterina Miroshnik

Director for Infrastructure, Russia, Central Asia and Mongolia
The European Bank for Reconstruction and Developmen

Ekaterina Miroshnik leads the EBRD infrastructure team in Russia, Central Asia and Mongolia. Previously she worked on projects in municipal, energy and transport sectors. Ms Miroshnik joined the EBRD London in 2000 as an Analyst in the Transaction Structuring & Executional Support team of the Infrastructure Business Group. She then moved to the Energy Efficiency Team where she spent two years, before transferring to Municipal and Environmental Infrastructure in 2004. She was promoted to Senior Banker in 2009. Ms Miroshnik has been on assignments in the field for the last eight years, first in Moscow and then in Almaty, she covered infrastructure projects in a number of countries to include Russia, Kazakhstan, Turkey and Southern and Eastern Mediterranean. She became Director for Infrastructure in Russia, Central Asia and Mongolia in 2013.  Prior to joining EBRD, Ms Miroshnik was with Schlumberger Oil and Gas Services, and Ernst and Young. She holds a Masters of Science in International Economic Relations from the Moscow State Institute for International Relations (MGIMO), and a PhD from the same Institute. Ms Miroshnik is a CFA charter holder. 

Tomasz Telma

Tomasz Telma

Director - Europe and Central Asia
International Finance Corporation, World Bank Group

Richard Tollis

Richard Tollis

Partner, Transaction Advisory Services - EMEIA Infrastructure Leader
EY

Richard Tollis is the Partner leading EY’s EMEIA Infrastructure Team in the Transactions space and has more than 18 years’ experience advising the public and private sectors on M&A, privatisation, PPPs, fund design and raising debt and equity.  He has experience operating in many different roles across the Infrastructure sector including infrastructure fund management, government, investment banking and wider lead financial advisory work. Mr Tollis has worked in a large number of EMEIA markets across Western Europe, CIS, Baltics, MENA, South Africa, India.  He holds an MSc from Bristol University.

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Chaired by (1)

Jack Farchy

Jack Farchy

Moscow and Central Asia Correspondent
Financial Times

Jack Farchy is responsible for coverage of Central Asia and the Caucasus at the Financial Times, as well as the Russian natural resources sector. He previously covered commodities for the Financial Times in London for four years, and before that worked on the paper's World News Desk. He holds a degree in philosophy and neuroscience from Oxford University.

Venue

Palace of Independence
Tauelsizdik Avenue 52
Astana
Tel: +7 775 887 6396
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Organisers (1)

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