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QIC and Hong Kong's HSITP have agreed on cooperation.
Qazaqstan Investment Corporation (QIC) and the Hong Kong-Shenzhen Innovation and Technology Park (HSITP) have signed a Memorandum of Understanding.
The parties agreed to collaborate on the development of innovation and technology in Kazakhstan, Hong Kong, and other countries involved in the "Belt and Road" initiative.
The signing of the document took place during the Shanghai Cooperation Organization (SCO) summit in Astana. The memorandum was signed by Erbolat Zholat, Chairman of the Board of QIC, and Vincent Ma, CEO of HSITP.
Erbolat Zholat, Chairman of the Board of Qazaqstan Investment Corporation, stated: "QIC is a key participant and driving force in the venture capital and private equity markets in Kazakhstan. The corporation’s priority is to leverage opportunities that foster the growth and development of the national economy. We expect that cooperation with HSITP will bring together the talents, resources, and markets of both countries in the development of innovation and technology, thus contributing to the creation of a sustainable IT ecosystem in the region."
Vincent Ma, CEO of HSITP, said: "Through collaboration with QIC, our technology enterprises and startups will be able to access the Central Asian market, which is one of the most attractive emerging markets for business expansion. QIC will also become a significant accelerator partner for our technology companies at various stages of their development."
According to the Memorandum, the parties intend to support technology venture companies and innovative projects by providing access to entrepreneurship programs and infrastructure at the HSITP tech park, as well as offering support for key operational processes to help these companies grow their business in the Central Asian region, with a focus on Kazakhstan, as well as in Hong Kong and mainland China.
Reference Information:
JSC "Qazaqstan Investment Corporation" is a fund of private equity funds established in 2007. Its main mission is to develop the private equity and venture financing infrastructure in Kazakhstan to contribute to the sustainable economic development of the country. It is a subsidiary of JSC "National Managing Holding Baiterek." Additional information can be found on the website https://qic.kz/en.
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