Article 4. Purpose and objectives of the Foundation of the National Welfare Fund Act

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1. The purpose of the Fund's activities is to increase the national welfare of the Republic of Kazakhstan by increasing the long-term value of the organizations included in the Fund's group, effective management of assets included in the Fund's group.

2. The objectives of the Foundation are:

1) increasing the competitiveness, market value and profitability of the organizations belonging to the Fund group;

2) implementation of the best corporate governance practices in the Fund's group;

3) stimulating the development and implementation of innovative processes and technologies in the Fund's group, as well as assistance in the development of innovation activities;

4) participation in attracting investments to the Republic of Kazakhstan, creating conditions for investment activity of organizations belonging to the Fund's group, as well as improving the investment climate in the Republic of Kazakhstan, taking into account the main directions of state policy;

5) development and implementation of strategic investment projects on national, intersectoral and regional scales, participation in the development and implementation of programs for modernization and diversification of the Kazakh economy;

6) excluded by the Law of the Republic of Kazakhstan dated 05/24/2018 No. 156-VI (effective ten calendar days after the date of its first official publication);

7) participation in the implementation of socially significant, industrial and innovative projects contributing to the sustainable development of the economy of the Republic of Kazakhstan, taking into account the specifics of their implementation by the Fund, established by this Law.

The Law of the Republic of Kazakhstan dated February 1, 2012 No. 550-IV.

This Law defines the legal status, operating procedure, goals, objectives and powers of the National Welfare Fund, the procedure for interaction between the National Welfare Fund and government agencies, as well as certain features of the legal status of legal entities whose shares belong to the National Welfare Fund and other organizations belonging to the National Welfare Fund group.

President

Republic of Kazakhstan

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