What SEC is?
The idea of establishing of Social and enterprise corporations in Kazakhstan belongs to the President of the country. The companies combining a number of state-owned assets were established by analogy with the developed countries. These companies were designed to develop business initiatives.
«Ertis» Social and Enterprise Corporation» National company» JSC was established in 2007 by the Decree of the President of the Republic of Kazakhstan. Later in June 2011, former Ertis SEC was divided in two societies: Ertis SEC and Pavlodar SEC.
New «Ertis» SEC» NC» JSC was registered in the Department of Justice of the East Kazakhstan region on June 16, 2011 at the following address: 35 Kirov Str., Ust-Kamenogorsk city, East Kazakhstan region, the Republic of Kazakhstan (State Registration Certificate of legal entity No. 22343-1917-AO).
The Founder of «Ertis» SEC» NC» JSC is the akimat (city administration) represented by State Institution "Business and Industrial-Innovative Development Department of EKR." The Company has separate property, its own balance sheet, bank accounts, a round seal with its name in Kazakh and Russian languages, letterheads, stamps and other details. Currently, the SEC is the founder of 12 subsidiaries and affiliates (hereinafter - SA). The authorized capital of the Company as of November 1, 2014 was 7,8 billion tenge. 7 703 149 shares of common stock were placed as of November 1, 2014.
Mission of Ertis SEC is to promote social and economic development of the East Kazakhstan region on the principles of partnership between government and business.
Perspective of Ertis SEC - regional institution for development which is effectively managing assets, stimulating economic activity in the growing points of the region, including through the investment attracting and acting as competitive sustainable production initiator.
The purpose of Ertis SEC is to support business initiatives and stimulate economic activity in the growing points of the region.
The Company is implementing the policy of the shareholder on economic development of the region through the implementation of public-private partnership mechanism, social component support to ensure effective management of public assets through corporate culture development in SA.
In contrast to the second-tier banks Ertis SEC cooperates with private investors on a partnership basis, i.e. through a joint venture establishment.
SEC, as a regional institution for development, is the authority which implements the projects within the framework of the public-private partnership.
SEC has granted the status of a national company that provides the ability to enter into subsoil use contracts for exploration and (or) production through direct negotiations without a tender.
In addition, the SEC may get land by replenishing the stock with its value without specific procedures.