The Kazakh government has undertaken crucial legal and regulatory reforms to improve the governance and performance of its state-owned enterprises (SOEs), but further reforms are needed. This review describes and assesses the corporate governance framework of the Kazakh SOE sector against the OECD Guidelines on Corporate Governance of State-Owned Enterprises. It makes recommendations to help the Kazakh authorities reform their state-owned sector and align the exercise of state ownership and the governance of SOEs with international best practices.