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Our funds
Kazakhstan Infrastructure Fund C.V.
Kazakhstan Infrastructure Fund C.V.
Capitalization: $ 105 mln
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Our funds
Baiterek Venture Fund
Baiterek Venture Fund JSC
Capitalization: 82.61 bln tenge (assets)
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Our funds
DBK Equity Fund C.V.
DBK Equity Fund C.V.
Capitalization: 33.5 bln tenge
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Our funds
KCM Sustainable Development Fund I C.V.
KCM Sustainable Development Fund I C.V.
Capitalization: 25.0 bln tenge
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Our funds
Российско-Казахстанский фонд нанотехнологий
Russian-Kazakhstan Nanotechnology Foundation
Capitalization: $ 51 mln
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Our funds
CITIC Kazyna Investment Fund I L.P.
CITIC Kazyna Investment Fund I L.P.
Capitalization: $ 200.4 mln
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Our funds
Kazakhstan Growth Fund L.P.
Kazakhstan Growth Fund L.P.
Capitalization: $ 80.8 mln
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Our funds
Kazakhstan Capital Restructuring Fund C.V.
Kazakhstan Capital Restructuring Fund C.V.
Capitalization: $ 100 mln
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Our funds
Falah Growth Fund L.P.
Falah Growth Fund L.P.
Capitalization: $ 500 mln
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Our funds
Macquarie Russia & CIS Infrastructure Fund C.V.
Macquarie Russia & CIS Infrastructure Fund C.V.
Capitalization: $630 mln
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Our funds
Islamic Infrastructure Fund L.P.
Islamic Infrastructure Fund L.P.
Capitalization: $ 226.5 mln
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Our funds
Wolfensohn Capital Partners L.P.
Wolfensohn Capital Partners L.P.
Capitalization: $ 250 mln
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Our funds
Aureos Central Asia Fund L.L.C.
Aureos Central Asia Fund L.L.C.
Capitalization: $ 37 mln
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Our funds
Eurasian Nurly (Bright) Investment Fund L.P.
Eurasian Nurly (Bright) Investment Fund L.P.
Capitalization: $ 242.4 mln
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Our funds
Almex-Baiterek Fund
Almex-Baiterek Fund
Capitalization: 468 mln tenge
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Mongolian projects "KAZYNA"

Mongolian projects "KAZYNA"

Kazakhstan and Mongolia are creating a direct investment fund with a total capitalization of $ 100 million.

Part of the fund's funds will be used to finance the areas of compact residence of the Kazakh diaspora, on the territory of which rich mineral deposits have been discovered. Despite the fact that international rating agencies rate Mongolia rather highly in a number of indicators, Kazakhstani management companies believe that “there are more interesting markets”.

On the Kazakh side, the founder of the fund will be Kazyna Capital Management JSC, on the Mongolian side - the Ministry of Industry and Trade, the Agency for Foreign Investment and Foreign Trade. The corresponding decision to establish the fund was made during the visit of the President of Kazakhstan Nursultan Nazarbayev to Mongolia on August 6-7. It is assumed that the total capitalization of the fund will be $ 100 million, the investment period is 5 years, and the fund will operate for 10 years. The purpose of this fund is to finance commercially viable, cost-effective infrastructure and investment projects in such sectors as energy, transport and logistics, financial sector, telecommunications, tourism, light and food industries, mining, mining and processing of energy resources in Mongolia.

Chairman of the Board of KSM Abay Alpamysov emphasized that part of the fund's funds, as part of supporting compatriots abroad, will be directed to financing investment projects of the Bayan-Ulgiy aimag, where a large diaspora of Kazakhs lives compactly. It should be noted that the Bayan-Ulgiy aimak is territorially included in the West Mongolian region and the main branch of the national economy is animal husbandry. However, according to geological exploration data, rich deposits of gold, silver and tungsten were discovered on its territory.

When assessing the investment attractiveness of Mongolia, it is important that international rating agencies rate it quite highly in terms of a number of indicators. For example, the World Bank Group, which includes the International Finance Corporation (IFC), has a global tool for ranking countries by the level of complexity of doing business. IFC annually polls experts from 175 countries on issues related to 10 regulatory procedures, namely: registration and closure (liquidation) of a company; licensing; registration of property rights; hiring; obtaining external funding; foreign economic activity; payment of taxes; protection of investors' rights and compliance with contractual obligations. That is, those factors are taken into account that contribute or, on the contrary, hinder the development of private business. So, in 2007 Mongolia took 45th place in this rating, Kazakhstan - 63, China - 93, Russia - 96.

The Canadian research group Fraser Institute has published an annual report on the investment attractiveness of 65 countries. In the course of its preparation, more than 330 executives of mining companies were interviewed. In the category that considers each country in terms of the endowment of mineral resources, regardless of the political situation, Mongolia took 2nd place, Kazakhstan was in 7th place after Russia, Mongolia, Bolivia, Congo, the American state of Montana and Indonesia.

There are also indirect factors that assess Mongolia as an attractive country for investors. For example, management companies of DWS Investments try to limit risks, therefore DWS Investments also invests in companies from other countries (USA, Mongolia, Austria, Taiwan), whose activities are focused on BRIC countries (Brazil, Russia, India, China). And Russia and the Czech Republic are jointly building an oil refinery in Mongolia. Experts suggest that construction is beneficial primarily for Russia, which is strengthening its position in the Asian oil market.

Meanwhile, a number of Kazakhstani management companies interviewed by "Къ" admitted that they do not carry out serious monitoring of Mongolia, since "there are more interesting markets at the moment." Nevertheless, they note the security of Mongolia with mineral resources, but with the proviso that very great efforts are needed to develop its industries from rudimentary to highly profitable.

“The similar structure of our economies and the range of mineral resources (copper, gold, uranium and coal) provides domestic industrialists with great potential for growth and expansion into the neighboring country, and the support of cultural ties with the Kazakh diaspora in western Mongolia is an aid to expanding economic ties,” said the manager Director of JSC Kazkommerts Securities (subsidiary of JSC Kazkommertsbank) Talgat Kamarov. However, he emphasizes that the wealth of Mongolia's subsoil and the poverty of the bulk of the population has recently provoked confrontation with the opposition in the struggle for the right to dispose of them, which significantly increased political risks. Mongolia's international credit rating is now BB-.

IMF experts assess the state of the Mongolian economy as risky, citing the fact that world prices for the main items of Mongolian exports are subject to market conditions, social costs are growing, and consumer prices are rising.

In general, plans for economic cooperation between Kazakhstan and Mongolia now include such areas as the opening of a joint Kazakh-Mongolian investment fund, the development of transport infrastructure in the border regions of the East Kazakhstan region of the Republic of Kazakhstan, Mongolia and the Russian Federation, that is, the creation of a system of railways connecting Kazakhstan, Mongolia and Russia, development of the investment environment, mining, environmental safety and agriculture.

Svetlana ISAEVA "KURSIV"

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