• KGS/USD = 0.01138 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09310 0.43%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01138 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09310 0.43%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01138 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09310 0.43%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01138 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09310 0.43%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01138 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09310 0.43%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01138 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09310 0.43%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01138 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09310 0.43%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01138 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09310 0.43%
  • UZS/USD = 0.00008 0%

Viewing results 1 - 6 of 30

Kazakhstan’s Nomadiq Innovation Hub Opens in Singapore

The Nomadiq Innovation Hub has now officially opened in Singapore. A private initiative, the aim of the hub is to promote Central Asia as a single region in Singapore and advance cooperation in IT entrepreneurship. At the opening ceremony, Minister of Digital Development, Innovation and Aerospace Industry of Kazakhstan, Zhaslan Madiev remarked that the new hub was designed to attract new start-up projects and unite Turkic countries’ efforts to expand digital solutions. “We have high hopes for the Nomadiq Innovation Hub in achieving goals that represent the interests of Kazakhstan and in particular, increasing the export of Kazakh IT products and attracting investment to our country,” the minister said. “Kazakhstan already has significant experience in developing and supporting start-ups and innovative projects. For example, the Astana Hub International Technology Park for IT Start-ups, launched five years ago, has now become one of the leading technology parks in Central Asia with 1,403 participants, including 388 foreign companies.” Outlining the project’s objectives, Olzhas Zhienkul, Chairman of the Board of Nomadiq Innovation Hub, announced, “Our main goals include the provision of in-depth and personalized support to selected projects, helping build sustainable business models and developing customized growth strategies. We are also focused on overcoming barriers to entry into international markets and will strive to position our region as a promising platform for venture investors.” Nomadiq is Kazakhstan’s third overseas innovation hub, joining the Silkroad Innovation Hub in the USA, and that in Riyadh, Saudi Arabia, named after the great philosopher al-Farabi.    

Uzbekistan to Increase Production and Export of Medicines

Uzbekistan President Shavkat Mirziyoyev called a government meeting  on 23 May to review plans for the country’s pharmaceutical industry. On 10 January, a road map for 2024–2025 was approved for the development of the pharmaceutical industry and the acceleration of related investment projects. This was followed by a presidential decree of 23 January which identified additional measures required to regulate the pharmaceutical sector. To date, a budget of $100 million has been allocated for the realization of new projects in the industry, boosted by an injection of $200 million from Asakabank. As a result, two projects worth $30.5 million have been launched over the past four months, with exports totalling $51 million. However, a lot of potential remains untapped. To redress the balance, plans are now underway to produce pharmaceutical products worth $400 million and increase the exports to $200 million.  A total of 147 projects worth $2 billion will be launched this year alongside the commission of a further 28. The head of state emphasized the need to increase the level of domestically produced medicines available in Uzbekistan and to ensure a balance between price and quality. The meeting also reviewed measures to intensify the work of the innovative pharmaceutical cluster, Tashkent Pharma Park, by launching 12 projects worth $470 million.  

Kazakhstan and China to Cooperate on Innovative Technology

On 23 May, the Ministry of Digital Development, Innovation and Aerospace Industry of Kazakhstan hosted the first meeting of the Subcommittee on Innovative Cooperation of the Kazakh-Chinese Intergovernmental Cooperation Committee. During the meeting in Astana, Kazakhstan’s First Vice Minister of Digital Development, Innovation and Aerospace Industry Kanysh Tuleushin, and Deputy Minister of Science and Technology of China Chen Jiachang discussed their respective countries’ cooperation in developing the 5G network, aerospace industry, and e-commerce. The subcommittee agreed to expand cooperation in the implementation of joint scientific and innovative projects in space research, the use of microsatellites, monitoring agriculture and natural disasters using remote sensing, digitalization of the agricultural sector, and seismic monitoring. An agreement was also reached on training young talent in the field of innovation, including short-term internships and joint scientific projects. The co-chairs of the subcommittee pledged to exchange information on current developments in scientific and technological innovations in China and Kazakhstan.  

Kazakhstan and South Korea to Strengthen Economic Cooperation

On May 23, Minister of Industry and Construction of Kazakhstan Kanat Sharlapaev participated in the 10th meeting of the Kazakh-Korean Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation. Regarding the strength of economic ties between Kazakhstan and South Korea in industrial cooperation, Sharlapaev reported that the current implementation of 15 joint investment projects worth $854.4 million will create over 4.7 thousand jobs. To date, seven projects involving the production of buses, trucks, and elevators have been launched in Kazakhstan, costing $188.9 million and creating over 2.7 thousand jobs. In 2023, with the participation of Korean companies including Daewoo Bus Global Corporation, Hyundai, KIA, and the Youngsan Glonet Corporation, the output of Kazakhstan’s electrical engineering and automobile industries reached $8.4 billion. In the same year, 34.1 thousand tons of ferroalloys worth $55.4 million were exported to the Republic of Korea. A joint project between Mineral Product International and SIMPAC Group is now underway to produce ferroalloys in Kazakhstan’s Pavlodar region. The minister confirmed his country’s readiness to cooperate with Korea in the energy sector by urging Korean companies to support the modernization and construction of new power plants in Kazakhstan. Finishing on an optimistic note, Sharlapaev announced, “Kazakhstan sees great prospects for the further development of cooperation with the Republic of Korea in all directions.”    

Kazakhstan and Singapore Join Forces to Boost Economy and Transport

On 23 May, Kazakhstan President Kassym-Jomart Tokayev’s made his first state visit to Singapore to engage in meetings with Singaporean President Tharman Shanmugaratnam focusing on connectivity, critical raw materials, and economic cooperation. Over 140 Singaporean companies and joint ventures currently operate in Kazakhstan. The country has invested over $1.7 billion in the Kazakh economy and bilateral trade is forecast to exceed $2 billion. Tokayev hailed Singapore as a time-tested and reliable partner of Kazakhstan and in talks with Singapore Prime Minister Lawrence Wong, expressed confidence that his visit would strengthen bilateral relations. Citing the complementary nature of their countries’ economies, Lawrence Wong stated that Singapore can provide a gateway to further Kazakhstan’s interaction with ASEAN countries and in turn, Kazakhstan can facilitate Singapore's rapprochement with Central Asian countries. Regarding economic and investment cooperation, the parties reaffirmed their mutual commitment to expanding joint ventures in green energy, transport and logistics, digitalization, finance, agribusiness, connectivity, e-commerce, and mining and processing of critical minerals. President Tokayev and Prime Minister Wong welcomed the implementation of Alatau City (G4 City); a thousand-kilometer Special Economic Zone to be developed by Kazakhstan with support from Singaporean company Surbana Jurong in the region of Almaty. Tokayev expressed his gratitude to the Singaporean company for developing the comprehensive master plan for the project which he described as a catalyst for boosting both his country’s economy and that of Central Asia. Tokayev and Wong also commended the partnership between Singapore’s PSA International and Kazakhstan’s national railways company Kazakhstan Temir Zholy (KTZ) aimed at increasing the potential of the Trans-Caspian International Transport Route (TITR). A Memorandum was signed by KTZ and PSA to further develop Kazakhstan’s transport and transit potential and an agreement made to increase the volume of cargo transit through Kazakhstan by means of a synergy of their assets in China. Today, KTZ operates railway terminals in China in the dry port of Xi'an and the seaport of Lianyungang. Assets held by PSA include marine terminals in six ports and railway terminals in 13 cities in China. Speaking at the Kazakhstan-Singapore Business Forum later in the day, Tokayev emphasized that because it offers “the shortest and most sustainable route from Central and East Asia to Europe,” TITR has the potential to radically enhance Eurasian cooperation. The Kazakh president outlined promising areas of cooperation between the two countries, and announcing Kazakhstan's readiness to supply critical raw materials and natural resources to Singapore, stated: “Considering that global demand for rare metals will quadruple by 2040, Kazakhstan, which has approximately 5,000 unexplored deposits, can become a reliable partner for the joint development of this potential. We have high hopes for long-term cooperation with the Indorama company, which is interested in exploring copper and phosphate deposits in Kazakhstan.” Tokayev also called on Singaporean companies to expand partnerships in the production of clean energy and the transfer of technology and expertise.

Alatau IT Hub Opens in Kazakhstan’s Almaty Region

The Alatau Hub, Kazakhstan's most recent regional  IT hub has now opened in Konaev in the Almaty region. Supported by the Ministry of Digital Development, Innovation and Aerospace Industry of Kazakhstan, the Alatau Hub is the 14th regional IT hub launched under the management of Astana Hub. Kazakhstan is now on course to establish similar hubs in all of its regions by the end of this year. During the launch, Ersultan Ermanov, director of the Information Technology Development Department at the Ministry of Digital Development, commented: “The opening of a hub in the Almaty region is a very significant event for IT specialists in the region. Our regional hubs play a key role in creating and developing an ecosystem that stimulates the emergence of new innovative projects, expansion of business activity and technological progress. In the future, Alatau Hub will become a center of attraction for young ambitious talents. It will also contribute to the emergence of new jobs, economic growth, and increased competitiveness of the country in the international arena.” The IT hubs currently in operation across 14 of Kazakstan's regions include: Abai IT Valley, Kyzylorda Hub, Digital Jetisu, Zhambyl Hub, Oskemen IT Hub, Jaiq Hub, Turkistan IT Hub, Qostanai IT Hub, Aqtobe IT Hub, Aqmola IT Hub, Pavlodar IT Hub, Terrikon Valley, Mangystau Hub, and Alatau Hub. By the end of 2024, further hubs will open in the cities of Atyrau, Shymkent, Zhezkazgan, Petropavlovsk, and Zhanaozen.      

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