Inefficient: The national company QazExpoCongress was compelled to divest its subsidiary fund.

This concerns the corporate fund "Kazakhstan Trade and Exhibition Center," which was a subsidiary of JSC "National Company QazExpoCongress," as reported by Orda.kz.

https://orda.kz/nejeffektivno-nackompaniju-qazexpocongress-zastavili-lishitsja-dochernego-fonda-397493/2025-01-30 07:31:02

“The insufficient workload of two non-profit organizations, along with the duplication of certain functions, has raised questions about the feasibility of their continued parallel operation. In this regard, the Ministry of Trade and Integration, in collaboration with JSC ‘National Company ‘QazExpoCongress’, has been tasked with carrying out a reorganization,”
the agency reported under the leadership of Alikhan Smailov.

Since June of last year, the Accounts Chamber, headed by Alikhan Smailov, has been conducting a thorough review of companies in the quasi-state sector, focusing primarily on asset management audits and the utilization of local budgets.

In 2019, JSC ‘National Company ‘Astana EXPO-2017’ was renamed to QazExpoCongress. 100% of the shares were transferred to the Ministry of Trade and Integration of the Republic of Kazakhstan. The company serves as the sole operator for conducting state and quasi-state international trade and economic events.

The state company itself was established in January 2013, with Talgat Ermegiyayev as its head for two and a half years. He was later convicted of embezzlement of state property on a large scale. Along with him, 23 individuals in leadership positions within the company received prison sentences. The total amount of embezzlement was 10 billion 200 million tenge.