The Summit opened on 6th November with a welcoming speech by
Daulet Saudabayev, Deputy Finance Minister of the Kazakh Republic. Mr.
Saudabayev expressed confidence in the necessity of such an event, and thanked
the Adam Smith Institute for all the work carried out in preparation for the
Summit 2007.The Summit participants had a unique opportunity to learn first hand about
how financial management of such big Kazakh industry names as "Razvedka
Dobycha KazMunaiGaz", ENRC, Kazpochta and many others, can secure them
leading positions in their industry sectors. Several sessions of the Summit were dedicated to specific questions of adhering
to international accountability, accounts, and budget optimisation standards,
which were discussed by the representatives of consulting companies, as well as
by CFOs of Karcement, Kazpochta, Ekoton, and DB Sberbank. Capital attraction strategies were the focus of the second day of the summit.
In current economic conditions, the knowledge of financial sources and tools is
an indispensable factor of effective development of every company, which is why
our speakers’ presentations on this subject were of great interest to the
audience. Second day session on IPO was an opportunity for the delegates to gain
information from the industry professionals, who possess unprecedented
experience in conducting initial IPOs. The fact that this session’s speakers included such
international stock market leaders as NYSE Euronext and London Stock Exchange, CFO
of KazMunaiGaz Exploration Production, that
has just secured the biggest IPO in Kazakhstan, and the CFO of ElitStroy Group that is planning to do the same in
the near future, as well as the
management of the Centre for Corporate Development of Independent
Directors Association (Russia), allowed the delegates to assess the IPO
process from various points of view, and to discuss its numerous aspects. Different networking formats included a practical master class on risk
management on all business levels, led by MARSH representatives. Bearing in
mind the conditions set by the US financial crisis, this topic could not but
interest our participants. One of the most popular features of the Adam Smith forums are the round table
champagne discussions, which permitted the delegates to discuss hot topics of
the day and to network in a relaxed atmosphere. The programme also included Risk management for CFOs training course - which
took place on Day three. Glyn Williams, a highly qualified risk management trainer,
shared his theoretical and practical experience of evaluating and minimising
risks. According to the results of the survey carried out at the
end of the event, most participants are in favour of making this forum an
annual event. Consequently, the Adam Smith Institute, where the work never
stops, will soon begin preparations for the
2nd CFO Kazakhstan Summit, which will take place in November 2008. If you want to offer any recommendations or criticism
regarding this past Summit, any suggestions towards our next event in 2008, or
have questions regarding participation in our forums, please contact Anna
Morozova by email amorozova@adamsmithconferences.com
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