Qazaqstan Investment Corporation (QIC) and Hong Kong-Shenzhen Innovation and Technology Park (HSITP) signed a memorandum of understanding to collaborate on innovation and technology development across Kazakhstan, Hong Kong, and Belt and Road Initiative countries, QazMonitor reports citing the QIC press service.
Signed during the Shanghai Cooperation Organisation (SCO) summit in Astana, the memorandum was inked by QIC Chairman Yerbolat Zholat and HSITP CEO Vincent Ma.
QIC is a private equity fund with state participation, created to promote the growth and development of the national economy of Kazakhstan. By partnering with HSITP, QIC aims to combine talents and resources to advance innovation and technology, fostering a robust regional IT ecosystem.
HSITP regards the partnership with QIC as essential for facilitating access to new markets for tech businesses in Central Asia. They foresee QIC accelerating growth for tech firms at various developmental stages.
QIC and HSITP will support tech ventures and innovation projects, offering access to entrepreneurship programs and HSITP's technology park. This collaboration aims to expand business opportunities in Central Asia, including Kazakhstan, Hong Kong, and mainland China.