Forum "Expert-100-Kazakhstan" showed that state has to play significant role in real economy
12/04/2009 In industrialization of state’s economy it is impossible to emphasize only state’s role, private initiative is necessary. Moderators of thematical sectors of economy tried to argue into such “unhacked” conclustion participants discussing the questions of future real sector of economy in the terms of Forum "Expert-100-Kazakhstan", which took place on Monday, in Astana city. However the representatives of business prefered to hear the presentations of state bodies and holdings, asking questions about the perspectives of further state support of domestic economy.
Managing director – member of management board of fund “Samruk-Kazyna” Kayrat AYTEKENOV supposes that “the presence of state in economy as active shareholder is justifiably because risks are decreased, on the other hand there is opportunity for private industry to plan own development strategies". He explained the essence of state support of private sector in time of crisis: "We have focused on that sectors, which are in crisis because of deficit of financial resources, expensiveness of other resources, damping of demand and so on. "Samruk-Kazyna" and other state holdings chose several directions of state-private partnership. Firstly, granting funds to business. We had three tranches: $1 billion for the support of SMB and half a billion at the expense of FSA of processing sector. At the second, we afforded opportunities for domestic companies and subjects of SMB to participate in the purchase of goods and services for national companies for 1,2 trillion tenge. It is unprecedented that memorandums with these providers are concluded for a period of 2-3 years, which enables them to plan own production for medium-dated period. The part of Kazakhstan producers in the purchases of "Samruk-Kazyna" group reaches almost 63%".
Mr. Aytekenov emphasized that the state funds can’t be “consumed", they are “invested” in the economy. "Supporting companies, we examine that every invested tenge would give minimum 10-20% of capital gains. Making decisions, we define how the assets of state can help corporate growth. Saying assets, I mean infrastructure, tariffs, resources of national companies, which together support the development of private business. Plus, investors consider fund as a warrant",- top-manager of "Samruk-Kazyna" thinks.
In turn the representative of another state holding - Head of Monitoring and Analysis Department of subsidiaries of Cumulative-Analytic Information Department of JSC NMH “Kazagro” Alpamys OMAROV informed that the total sum of financial support of Kazakhstan agriculture in 2009-2010 taking into account volume 248,6 billion tenge. According to his data, in 2009 26.4 billion tenge were invested in the realization of investment projects. Spring-field and harvest-work were financed to the amount of 68,8 billion tenge, the purchase of grain was financed to the amount of 31,8 billion tenge. In 2010 121.6 billion tenge will be granted, 93.6 billion tenge from them will be invested in the realization of investment projects, but 28 billion tenge will be invested in the purchase of grain.
In the eye of Mr. Omarov, the diversification of AIC is possible if the following two problems of agricultural sector will be solved: high dependence of import of separate types of agricultural products and the necessity of the development of export potential of AIC. Deterrent is also high amortization of agricultural technique (approximately 80%) and high dependence of import in agricultural machinery.
On the principle of "problem - design decision" "KazAgro" has defined 11 main investment directions, including creation and modernization of greenhouse chain (total capacity is approximately 75 thousand ton), milk-ware farm chain (total capacity is approximately 73 thousand ton of milk annually), poultry factory.
In the terms of export development's potential of JSC NMH "KazAgro" plans to activate the export of meat products first of all. "Creating modern feedlot chain up-to-date technologies of fattening with the production of ecologically clean beef, delivery of standard parcels in bulk up to 11 thousand ton yearly will be used, which will enable approach Russian market,- the representative of "KazAgro" is sure. Slaughter site chain will be created according to international requirements, which will increase the safety and quality of output goods and will create basis for massive export of domestic meat products".
The opportunities of state for granting of financial resources for industrial sector were presented by president of Development Bank of Kazakhstan Gali ISKALIEV, who noted that main priority for funds of development institutes are infrastructure and capital-intensive projects. But DBK can’t activate projects itself, it waits for them from private sector. At that bank expects that the part of credits in high priority branches in 2010 will be increased up to 80% of loan portfolio of investment projects. Present loan portfolio reaches $1,93 billion. There are perspective projects under consideration to the amount of 3 billion tenge.
At that in the terms of detailed consideration of Mr. Iskaliev’s presentation, it can be seen that 50% of these perspectives are in the projects of oil refining field. And, most likely, these are projects, which are activated by state sector. These are good news for oil consumers, but it demonstrates the inactivity of domestic businessmen of real sector again. Business at this forum, as well as at all such events, generally spoke about the expectations from state, but not about what, it is ready to offer itself.
Although presented by forum organizers analytical investigation of "Exper RA" group testifies that real sector of Kazakhstan isn’t in tight corner. So, according to investigation results total volume of 100 corporations of state, which are entered into list "Expert-100-Kazakhstan", in 2008 increased in comparison with 2007 almost 35% in the terms of annual inflation 9,5%. In Russia according to the data of "Expert-400", the volume of sold products of 400 leading corporations increased 24%. In such a manner, according to the real expansion rate major Kazakhstan business advances own russian colleagues half as much. Total volume of its 100 participants in relation to GDP reaches 72,6%.
At the session of forum, which was devoted to present situation and perspectives of the development of Kazakhstan financial system, discussion suddenly found expression in the discussion of the ethics of domestic financial system. Participants remembered guilty persons of present crisis’s beginning - bankrupts (world), argued about future principles, which have to be used in the work of banks, rating agencies, financial analyzers and investors from now on.
Serik AKHANOV, President of Association of Financiers of Kazakhstan quoted Koran, evangelistary from Matthew, “Capital” by turn, reminded “classics”: "There is no such crime for capitalist, if deal brings 300% profit".
However, following the results of forum there is an impression that domestic capitalist isn’t ready to activate new projects without guarantee of state participance in them (or at least state support) even for 300% of profit.
Е. Т.,
Astana
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