BAKU, Azerbaijan, Dec.12
By Nargiz Sadikhova - Trend:
Kazakhstan Direct Investment Fund and US’s Bright Sphere Investment Group (BSIG) signed a memorandum of cooperation in creating a joint fund in 2020 to finance infrastructure projects in Kazakhstan, Trend reports with reference to the press office of Kazakhstan’s prime minister.
This and a number of other agreements were signed during working trip of Kazakhstan’s Prime Minister Askar Mamin to US on Dec. 10, 2019.
During the visit Mamin met with the leadership of the Center for the Fourth Industrial Revolution of the World Economic Forum (WEF) and discussed promising areas of cooperation in regulation of innovative technologies with the WEF Managing Director Richard Samans.
Following the meeting, the Center for the Fourth Industrial Revolution and the Astana International Financial Center (AIFC) signed a document on strategic partnership in the development of the Internet of Things, which was the first step towards the opening in 2020 in Kazakhstan of the WEF Affiliate Center for the Fourth Industrial Revolution.
“Similar institutions operate in Israel, India, China, the United Arab Emirates, Colombia, South Africa, the US and Japan, contributing to the provision of systemic state support for the development of the latest technologies and innovative projects,” the report said.
The signed document oversees creation of a joint Thematic Venture Fund in Kazakhstan. The project will give an impetus to the development of venture financing and innovative entrepreneurship, providing start-up companies with venture capital.
Furthermore, Mamin discussed the development of an innovative ecosystem, venture capital and start-up projects in Kazakhstan with the management of Plug and Play company, whose office will be opened in Kazakhstan’s Astana Hub.
In turn, during the meeting with CEO of One Web company Adrian Steckel, the prospects for the implementation of the project on the widespread coverage of Kazakhstan, including remote and inaccessible areas, with high-speed broadband Internet via communication satellites were considered.
As a result of the negotiations, Head of AIFC Kairat Kelimbetov and the Steckel signed a document on further project promotion.
During negotiations with ValvTechnologies President Kevin Hunt, Mamin talked possibilities to open a plant for the production of valves and gate valves for oil and gas sector in Kazakhstan.
The manufactured products may be used within the framework of the Future Expansion Project of the Kazakhstan’s Tengiz field, as well as export to the markets of neighboring countries.
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