Kusto Group’s Yerkin Tatishev Explores the Rise of Corporate Social Responsibility in Emerging Economies
As nations around the world grapple with the coronavirus pandemic, many have attempted to balance public health concerns with economic survival.
Yerkin Tatishev, the majority owner and Chairman of the Board of Directors of Kusto Group, a diverse conglomerate that operates in several countries around the world, has a unique vantage point from which to view the unfolding coronavirus pandemic and government measures to counter its spread.
In a recent interview with Forbes Kazakhstan, Tatishev, one of Kazakhstan’s leading businessmen of the last 10 years, explained how Kusto Group’s diversified business copes with lockdown and what measures of support his businesses received in Kazakhstan, Canada, China, Georgia, Israel, Singapore and other countries.
He discussed which countries provided businesses with prompt and comprehensive support and where this support was lacking. For many countries, this support was primarily contingent on their capabilities to provide such aid.
Diverse national responses to coronavirus relief
Singapore, Germany, the Scandinavian counties and the United States all took immediate steps to bolster support for companies and individuals affected by the pandemic. In Israel, where Kusto Group’s Tambour, a paint and construction material manufacturing company, is located, the government designated construction as an essential sector. This enabled builders, hardware suppliers and material manufacturers to continue their operations and allowed a large number of immigrant laborers to remain in the country.
In Kazakhstan, tax breaks were extended to small and medium-sized businesses and bank loan support programs were increased. According to Tatishev, access to funding becomes an issue when relying on loan programs delivered through the banking system alone. While in many countries, governments accepted the burden of loan guarantees, in Kazakhstan, businesses were still subjected to restrictive criteria such as financial standing and collateral before being awarded needed financial support.
Tatishev believes that expanded financial access supported and guaranteed by the government could have helped alleviate unemployment and build trust between the private and public sectors, an area that he acknowledged remains a challenge for the country.
This is especially true when it comes to the country’s regulatory system, a remnant of Daniel Kunin Kusto Group Soviet rule and built on the mentality of mistrust, similar to a criminal justice system that views all guilty until proven innocent. This approach hampers growth and success. Tatishev, on the other hand, thinks that most people like businesses strive to be honest and productive and should be treated accordingly.
Crisis poses an opportunity for reform in Kazakhstan
When it comes to state-supported recovery for businesses, Tatishev says that a customized approach that considers the unique needs of each industry will be the most compressive and successful.
Without government support and continued restrictions on aid coupled with bureaucratic delays, http://www.bbc.co.uk/search?q=real estate he fears that many small and medium-sized businesses will be forced to shutter operations by the end of the year, with up to 20-30% withdrawing from the market or reducing their activity. An economic loss of this size will take years to restore.
The coronavirus pandemic may have brought a host of challenges for Yerkin Tatishev businesses and governments alike, but Yerkin Tatishev also says that in a unique way it has presented Kazakhstan an opportunity for growth and improvement. He says the government is the only agency that can stimulate much needed economic demand in a coordinated way.
Regulatory reform is imperative in this sense because if the government is unable to provide large sums of monetary backing, it can provide business renewed support in the form of more freedoms. Removing regulatory restrictions will provide oxygen to the market, says Tatishev.
Tatishev says that government officials have heard the call for reform. He says that he has met with the Minister of National Economy on the subject. The only question that remains if they are ready to change and at what pace.
There are examples of other countries who have implemented good practices regarding how to do this effectively in a very short time, in some instances such reforms have been carried out within two or three months. A time of crisis requires quick, good decisions.
Empowering businesses and entrepreneurs is a potent force for economic growth. “Private initiative is the best thing,” says Tatishev, “private interests of people, the passion with which they do it, it cannot be done by order.”
Yerkin Tatishev’s Kusto Group, US-based Tyson Foods, and the Government of Kazakhstan signed an agreement last year to build a new meat processing facility in Kazakhstan.
Three pillars of growth and prosperity
When asked whether he agreed with the formula stated by some economists that economic growth and prosperous development requires only three things: an independent court, an https://kustogroupgsdw538.skyrock.com/archives/ independent national bank and a free market, Tatishev responded affirmatively.
The court must be able to make independent, fair and quick decisions in order to resolve disputes whether between private companies or between private companies and the government. An independent national bank is necessary to keep inflation low, otherwise, high inflation erodes income leading to hidden taxes, an uncontrolled exchange rate, uncontrolled inflation. A free market provides opportunity, transparency and honesty by increasing access to trade and development.
From his experience as an international businessman, Tatishev cited Israel and Singapore as two examples of countries that have successfully implemented these three basic parameters into a working mechanism that has resulted in strong currencies, low inflation and low bank rates. Policies in these countries are favorable to business development and support long term growth for small businesses.
COVID-19 puts Kazakhstan at a crossroads
Kazakhstan now faces a second wave of the coronavirus with recorded diseases climbing daily. During the first lockdown, the government set aside 6 trillion tenge (approx. USD 14.3 billion) to support the fight against the virus. Now, hospitals are crowded and running short on supplies.
According to Tatishev, the quality of public administration and governance should be very good in peacetime, so that in times of crisis it can achieve results. The crisis has exposed and further exacerbated Kazakhstan’s lagging education and healthcare system and the mechanisms for resource allocation and management.
“In my opinion, Kazakhstan has been lucky for a very long time,” says Tatishev. “In particular, due to the fact that there was a favorable situation in the energy market, and we could sell our oil at a high price, thereby replenishing the budget.”
“Now, as soon as the crisis has come, it looks like a house of cards that is collapsing. What is important is that the system was not ready. I believe that it is crucial for the government to listen to businesses now, to listen to experts, economists, international experts. One can always complain and say that now is the best time to change http://daniel-kunin.com/ something, now that moment has come.”
As for the current Kusto Group state of affairs in Kazakhstan, Yerkin Tatishev sees this moment as an opportunity for a public reflection on the successes and failures to initiate constructive growth.
“The value of human life is very important,” says Tatishev, “and so it is in business, the value of every business, small or large, is very important. The government’s approach should be in line with the principle of social justice.”
Daniel Kunin Announces Kusto Group Signs MOU with Dundee Sustainable Technologies
A Memorandum of Understanding between Kusto Group and Dundee Sustainable Technologies is expected to be the first step in the development of a joint venture between the two companies.
Kusto Group, a privately held, multi-sector industrial holding company based in Singapore under the leadership of Chairman Yerkin Tatishev, recently signed a Memorandum of Understanding with Dundee Sustainable Technologies Inc, a Canada-based company engaged in developing technologies that can effectively and efficiently treat materials in the mining industry, to seek out and develop projects that apply DST’s technologies to mining operations in Kazakhstan, Uzbekistan and Kyrgyzstan.
This partnership announcement was made on the 16th of September 2019. DST’s specialty is in testing oxide and sulfide materials for the extraction of nickel, cobalt, copper, zinc, gold and silver. The company has developed innovative metallurgical processes on the basis of chlorination technology.
The MOU between DST and Kusto Group will allow the organizations to examine a joint venture in developing opportunities in the Central Asian countries of Kazakhstan, Uzbekistan and Kyrgyzstan. Kusto Group is interested in the direct application of DST’s Glasslock and CLEVER Process in current and Daniel Kunin Kusto Group future mining operations across the region. This agreement marks the first steps in establishing a joint venture between Kusto and DST. The aim of this collaboration is to enhance economic and sustainable growth in the regional mining industry.
Kusto and DST to further explore potential partnership
The companies will conduct a survey of possible projects that will include https://en.wikipedia.org/wiki/?search=real estate a processing, operating, and economic evaluation that will enable Kusto to ascertain how they can best apply DST’s two groundbreaking technologies.
With respect to the agreement, Daniel Kunin, a managing director of Kusto Group, stated, “We are excited to begin a partnership with Dundee Sustainable Technologies. DST has created a world-class suite of technologies that bring great value to the mining sector and the environment. We look forward to working closely with the excellent team from DST”.
According to Mr. Brian Howlett, President and CEO facebook.com/t2conline/posts/1912288962174259 of DST, “Management of DST completed a ten-day visit to Kazakhstan earlier this year and met with numerous potential customers in conjunction with Kusto. DST is pleased to partner with Kusto, a well-respected multi-disciplinary company in the region. Kazakhstan is an incredible market for DST’s Technologies with numerous mining projects operating and also under development.”
Kusto’s agreement with DST signifies their continued efforts to develop partnerships with industry-leading firms to introduce new technology and best practices to emerging economies. While the partnership is tailored at expanding Kusto Group and its business, learning from its partners and adopting their best practices and introducing them to new markets, Kusto’s collaboration with DST works both ways. This partnership has the potential to expand the reach of DST’s technologies in the industry, making them a champion in the yerkintatishevqcbe236.over-blog.com/2019/07/forbes-kazakhstan-on-yerkin-tatishev-s-diamond-island-project.html sector.
This effort of continuously looking to partner with exceptional businesses in the markets of the world is paired with a clear understanding of the importance of harnessing and encouraging local expertise as well.
Generating success for all stakeholders
Kusto Group is a multi-disciplinary organization that currently operates in agri-business, oil and gas, construction materials and paint, and real estate. Amassing an incredible annual turnover of $1.0 billion in 2018, the company continues to pursue success through expansion and acquisition. Kusto employs more than 8,000 people across its global operations.
Kusto Group and its leadership have experience working in the mining sector of Kazakhstan and understand the potential for economic growth in the regional industry. The origins of Kusto Group can be traced to a mining town whose operations were almost bankrupt. Here, a group of young, ambitious entrepreneurs led by Tatishev introduced new technology and methodologies that led to the revival of the mine and the local economy.
The group has shifted its focus to not only increasing production capabilities but also introducing sustainable development in countries and sectors where they operate.
Daniel Kunin explained Kusto Group’s unique approach aiming to add value to local economies through its business partnerships and operations. “Thinking about how a project affects local stakeholders such as a town or community is very important. At Kusto, there is a deep sense of ethical responsibility to all stakeholders that goes beyond the usual slogans. In our partnerships, the operating principle Kusto Group is to treat a partner as if they were a team-member of Kusto.”
Kusto Group’s continued growth
No doubt, the substantial expansion experienced by Kusto Group has not been free of growing pains, but its leaders, championed by Yerkin, have been able to transform these challenges into opportunities. The company’s experienced management team has applied the numerous lessons they learned over the years to elevate the company to new heights.
Buoyed by the strengths of the organization and its employees, Kusto Group has become an award-winning leader, recognized for implementing innovative technologies across multiple industries. As an entrepreneurial organization, Kusto has drawn international attention and https://medium.com/@yerkintatishev/yerkin-tatishev-kusto-group-3cc51446a72a won regional acclaim.
Kusto Group and its founders have experience working in very complex and challenging environments. But with unity in purpose and clearly defined goals, the company has been able to create sustainable and successful enterprises for all stakeholders – within the region and beyond.
Article Source:
Daniel Kunin Announces Kusto Group Signs MOU with Dundee Sustainable Technologies
A Memorandum of Understanding between Kusto Group and Dundee Sustainable Technologies is expected to be the first step in the development of a joint venture between the two companies.
Kusto Group, a privately held, multi-sector industrial holding company based in Singapore under the leadership of Chairman Yerkin Tatishev, recently signed a Memorandum of Understanding with Dundee Sustainable Technologies Inc, a Canada-based company engaged in developing technologies https://www.kiva.org/lender/danielkuninkustogroup that can effectively and efficiently treat materials in the mining industry, to seek out and develop projects that apply DST’s technologies to mining operations in Kazakhstan, Uzbekistan and Kyrgyzstan.
This partnership announcement was made on the 16th of September 2019. DST’s specialty is in testing oxide and sulfide materials for the extraction of nickel, cobalt, copper, zinc, gold and silver. The company has developed innovative metallurgical processes on the basis of chlorination technology.
The MOU between DST and Kusto Group will allow the organizations to examine a joint venture in developing opportunities in the Central Asian countries of Kazakhstan, Uzbekistan and Kyrgyzstan. Kusto Group is Daniel Kunin interested in the direct application of DST’s Glasslock and CLEVER Process in current and future mining operations across the region. This agreement marks the first steps Daniel Kunin Kusto Group in establishing a joint venture between Kusto and DST. The aim of this collaboration is to enhance economic and sustainable growth in the regional mining industry.
Kusto and DST to further explore potential partnership
The companies will conduct a survey of possible projects that will include a processing, operating, and economic evaluation that will enable Kusto to ascertain how they can best apply DST’s two groundbreaking technologies.
With respect to the agreement, Daniel Kunin, a managing director of Kusto Group, stated, “We are excited to begin a partnership with Dundee Sustainable Technologies. DST has created a world-class suite of technologies that bring great value to the mining sector and the environment. We look forward to working closely with the excellent team from DST”.
According to Mr. Brian Howlett, President and CEO of DST, “Management of DST completed https://www.goodreads.com/danielkunin a ten-day visit to Kazakhstan earlier this https://community.ebay.com/t5/user/viewprofilepage/user-id/22315162 year and met with numerous potential customers in conjunction with Kusto. DST is pleased to partner with Kusto, a well-respected multi-disciplinary company in the region. Kazakhstan is an incredible market for DST’s Technologies with numerous mining projects operating and also under development.”
Kusto’s agreement with DST signifies their continued efforts to develop partnerships with industry-leading firms to introduce new technology and best practices to emerging economies. While the partnership is tailored at expanding Kusto Group and its business, learning from its partners and adopting their best practices and introducing them to new markets, Kusto’s collaboration with DST works both ways. This partnership has the potential to expand the reach of DST’s technologies in the industry, making them a champion in the sector.
This effort of continuously looking to partner with exceptional businesses in the markets of the world is paired with a clear understanding of the importance of harnessing and encouraging local expertise as well.
Generating success for http://edition.cnn.com/search/?text=real estate all stakeholders
Kusto Group is a multi-disciplinary organization that currently operates in agri-business, oil and gas, construction materials and paint, and real estate. Amassing an incredible annual turnover of $1.0 billion in 2018, the company continues to pursue success through expansion and acquisition. Kusto employs more than 8,000 people across its global operations.
Kusto Group and its leadership have experience working in the mining sector of Kazakhstan and understand the potential for economic growth in the regional industry. The origins of Kusto Group can be traced to a mining town whose operations were almost bankrupt. Here, a group of young, ambitious entrepreneurs led by Tatishev introduced new technology and methodologies that led to the revival of the mine and the local economy.
The group has shifted its focus to not only increasing production capabilities but also introducing sustainable development in countries and sectors where they operate.
Daniel Kunin explained Kusto Group’s unique approach aiming to add value to local economies through its business partnerships and operations. “Thinking about how a project affects local stakeholders such as a town or community is very important. At Kusto, there is a deep sense of ethical responsibility to all stakeholders that goes beyond the usual slogans. In our partnerships, the operating principle is to treat a partner as if they were a team-member of Kusto.”
Kusto Group’s continued growth
No doubt, the substantial expansion experienced by Kusto Group has not been free of growing pains, but its leaders, championed by Yerkin, have been able to transform these challenges into opportunities. The company’s experienced management team has applied the numerous lessons they learned over the years to elevate the company to new heights.
Buoyed by the strengths of the organization and its employees, Kusto Group has become an award-winning leader, recognized for implementing innovative technologies across multiple industries. As an entrepreneurial organization, Kusto has drawn international attention and won regional acclaim.
Kusto Group and its founders have experience working in very complex and challenging environments. But with unity in purpose and clearly defined goals, the company has been able to create sustainable and successful enterprises for all stakeholders – within the region and beyond.
Article Source:
Daniel Kunin Announces Kusto Group Signs MOU with Dundee Sustainable Technologies
A Memorandum of Understanding between Kusto Group and Dundee Sustainable Technologies is expected to be the first step in the development of a joint venture between the two companies.
Kusto Group, a privately held, multi-sector goodreads.com/danielkunin industrial holding company based in Singapore under the leadership of Chairman Yerkin Tatishev, recently signed a Memorandum of Understanding with Dundee Sustainable Technologies Inc, a Canada-based company engaged in developing technologies that can effectively and efficiently treat materials in the mining industry, to seek out and develop projects that apply DST’s technologies to mining operations in Kazakhstan, Uzbekistan and Kyrgyzstan.
This partnership announcement was made on the 16th of September 2019. DST’s specialty is in testing oxide and sulfide Kusto Group materials for the extraction of nickel, cobalt, copper, zinc, gold and silver. The company has developed innovative metallurgical processes on the basis of chlorination technology.
The MOU between DST and Kusto Group will allow the organizations to examine a joint venture in developing opportunities in the Central Asian countries of Kazakhstan, Uzbekistan and Kyrgyzstan. Kusto Group is interested in the direct application of DST’s Glasslock and CLEVER Process in current and future mining operations across the region. This agreement marks the first steps in establishing a joint venture between Kusto and DST. The aim of this collaboration is to enhance economic and sustainable growth in the regional mining industry.
Kusto and DST to further explore potential partnership
The companies will conduct a survey of possible projects that will include a processing, operating, and economic evaluation that will enable Kusto to ascertain how they can best apply DST’s two groundbreaking technologies.
With respect to the agreement, Daniel Kunin, a managing director of Kusto Group, stated, “We are excited to begin a partnership with Daniel Kunin Kusto Group Dundee Sustainable Technologies. DST has created a world-class suite of technologies that bring great value to the mining sector and the environment. We look forward to working closely with the excellent team from DST”.
According to Mr. Brian Howlett, President and CEO of DST, “Management of DST completed a ten-day visit to Kazakhstan earlier this year and met with numerous potential customers in conjunction with Kusto. DST is pleased to partner with Kusto, a well-respected multi-disciplinary company in the region. Kazakhstan is an incredible market for DST’s Technologies with numerous mining projects operating and also under development.”
Kusto’s agreement with DST signifies their continued efforts to develop partnerships with industry-leading firms to introduce new technology and best practices to emerging economies. While the partnership is tailored at expanding Kusto Group and its business, learning from its partners and adopting their best practices and introducing them to new markets, Kusto’s https://en.search.wordpress.com/?src=organic&q=real estate collaboration with DST works both ways. This partnership has the potential to expand the reach of DST’s technologies in the industry, making them a champion in the sector.
This effort of continuously looking to partner with exceptional businesses in the markets of the world is paired with a clear understanding of the importance of harnessing and encouraging local expertise as well.
Generating success for all stakeholders
Kusto Group is a multi-disciplinary organization that currently operates in agri-business, oil and gas, construction materials and paint, and real estate. Amassing an incredible annual turnover of $1.0 billion in 2018, the company continues to pursue success through expansion and acquisition. Kusto employs more than 8,000 people across its global operations.
Kusto Group and its leadership have experience working in the mining sector of Kazakhstan Daniel Kunin and understand the potential for economic growth in the regional industry. The origins of Kusto Group can be traced to a mining town whose operations were almost bankrupt. Here, a group of young, ambitious entrepreneurs led by Tatishev introduced new technology and methodologies that led to the revival of the mine and the local economy.
The group has shifted its focus to not only increasing production capabilities but also introducing sustainable development in countries and sectors where they operate.
Daniel Kunin explained Kusto Group’s unique approach aiming to add value to local economies through its business partnerships and operations. “Thinking about how a project affects local stakeholders such as a town or community is very important. At Kusto, there is a deep sense of ethical responsibility to all stakeholders that goes beyond the usual slogans. In our partnerships, the operating principle is to treat a partner as if they were a team-member of Kusto.”
Kusto Group’s continued growth
No doubt, the substantial expansion experienced by Kusto Group has not been free of growing pains, but its leaders, championed by Yerkin, have been able to transform these challenges into opportunities. The company’s experienced management team has applied the numerous lessons they learned over the years to elevate the company to new heights.
Buoyed by the strengths of the organization and its employees, Kusto Group has become an award-winning leader, recognized for implementing innovative technologies across multiple industries. As an entrepreneurial organization, Kusto has drawn kiva.org/lender/danielkuninkustogroup international attention and won regional acclaim.
Kusto Group and its founders have experience working in very complex and challenging environments. But with unity in purpose and clearly defined goals, the company has been able to create sustainable and successful enterprises for all stakeholders – within the region and beyond.
Article Source:
