OECD Review of the Corporate Governance of State-Owned Enterprises in Kazakhstan / OECD.

Format:

Book

Author/Creator:

Organisation for Economic Co-operation and Development, author, issuing body.

Language:

English

Subjects (All):

Corporate governance.

Government business enterprises.

Physical Description:

1 online resource (153 pages) : illustrations

Place of Publication:

Paris : OECD Publishing, 2024.

Summary:

The Kazakh government has undertaken crucial legal and regulatory reforms to improve the governance and performance of its state-owned enterprises (SOEs), but further reforms are needed. This review describes and assesses the corporate governance framework of the Kazakh SOE sector against the OECD Guidelines on Corporate Governance of State-Owned Enterprises. It makes recommendations to help the Kazakh authorities reform their state-owned sector and align the exercise of state ownership and the governance of SOEs with international best practices.

Contents:

Foreword 3

Abbreviations and acronyms 6

Executive summary 8

1 The state-owned enterprise landscape in Kazakhstan 10

1.1. Economic and political context of Kazakhstan 11

1.2. Overview of Kazakhstan's state-owned sector 15

1.3. Legal and regulatory environment in Kazakhstan 25

1.4. Ownership arrangements and responsibilities 30

1.5. Privatisation 43

1.6. Recent and ongoing reform 48

References 50

Notes 53

2 Assessment of Kazakhstan relative to the SOE Guidelines 56

2.1. Rationales for state ownership 57

2.2. The state's role as an owner 60

2.3. State-owned enterprises in the marketplace 68

2.4. Equitable treatment of shareholders and other investors 77

2.5. Stakeholder relations and responsible business 88

2.6. Disclosure and transparency 93

2.7. Responsibilities of the boards of state-owned enterprises 102

References 115

Notes 116

3 Conclusions and recommendations for Kazakhstan's state-owned sector 119

3.1. Recommendations 121

Annex A. Methodological note on data analysis 125

Annex B. Selected SOEs - external auditing/ board compositions 129

Annex C. Kazakhstan's privatisation plans 148

Annex D. Subsidiaries of SK and Baiterek 150

FIGURES

TABLES.

Notes:

Description based on publisher supplied metadata and other sources.

Includes bibliographical references.

ISBN:

92-64-55761-X