Ordinary citizens should be able to purchase shares of national companies - Tokayev

Фото: akorda.kz 27.06.2022 131

Opening the event, Kassym-Jomart Tokayev emphasized that in conditions of increased international turbulence, the search for reliable financial instruments that can ensure investment stability and predictability is becoming relevant, El.kz cites Ak orda.

President Tokayev stressed the importance to plan well for the IPO of national companies. As an example, he noted the role of Samruk-Kazyna and its national companies.

“Ordinary citizens of our country should be able to purchase shares of national companies and receive their dividends from investments. This is the way to create an investment culture among the population. Participation in an IPO must become accessible to absolutely all residents of Kazakhstan. And this requires new digital solutions that would eliminate paperwork and bureaucracy,” he said.

In his speech, Kassym-Jomart Tokayev touched upon the relevance of attracting long-term foreign investors to sovereign tenge denominated bonds. He expressed the opinion that in such an uncertain environment, the competition for investments and resources is intensifying. Investors are looking for venues where corporate governance principles are highly respected, the rule of law prevails and international jurisdiction is available.

“The country needs new reliable sources. And for that we need to work more closely with international depositories. Under these conditions, the AIFC platform, with its regulatory regime and international law, looks attractive. The Government jointly with the National Bank and the AIFC should work on connecting to the global infrastructure with long-term institutional investors,” the President said.