Social Business Corporations

Tuesday, October 31, 2006

Two weeks ago, there was a government assembly and the Prime Minister presented new projects for the government. As Kazakhstan Today reports, Social Business Corporations were on the list. ?Sara Arka? will be the first, to be established in Karaganda (because the akim there was on the ball, they say). By the end of the year, six more will be established in the regions.

These corporations were first brought up in the President?s Annual Message to the People in February of 2006:

Creation of regional ?engines? of economic development through formation of regional corporations for social development and enterprise

Social-business corporations (SBC), sustainable business structures, could be formed in various regions and take over management of communal property, land, non-remunerative, but working businesses, that can be used for new business creation.

Each SBC will become a kind of a regional development institute and act as a holding company, managing state assets in a particular region.

Further on with management experience accumulation and increase of SBC capitalization level we could talk of extension of their ?responsibility areas?, including exit to regional and international markets.

These corporations will pursue attraction of new projects, business development and cooperation extension.

As a result SBCs will become big employers and ?engines? of the country?s development.

Continue reading “Social Business Corporations

Source: KZBlog (link opens in a new window)