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Astana, Kazakhstan • 01 September, 2023 | 12:12

Kazakhstan to Increase IT Exports to $1 Billion by 2026

The government has been instructed to establish joint ventures with major foreign IT companies

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Freepik
Freepik

On September 1 in Astana, President Kassym-Jomart Tokayev instructed the government to boost the export potential of domestic IT solutions from the current $500 million to $1 billion by 2026 through the establishment of joint ventures with major foreign IT companies, QazMonitor reports.

During the national address, the president emphasized the importance of focusing on the development of artificial intelligence, as global forecasts indicate that over $1 trillion will be invested in this field in the coming years.

"Artificial intelligence has the potential to significantly contribute to a country's GDP when properly developed. Leveraging the capabilities of artificial intelligence will drive the growth of the knowledge economy. It is essential to establish collaborations with leading international companies and prioritize the training of qualified specialists. At least three renowned universities should be involved in training and research in this field," said Tokayev.

He also highlighted Kazakhstan's potential to become a platform for selling computing power to global players.

Creating the most attractive conditions, including incentives for attracting investments in the construction of large data centers and advancing Kazakhstan's interests in data storage and processing, is imperative. It is time to address the fundamental principles of digitalization at the legislative level.

President of Kazakhstan Kassym-Jomart Tokayev

Venture capital financing should serve as the primary source for launching innovative projects, noted the president. Therefore, it is necessary to address all legal and financial aspects to increase interest in these projects from both domestic and foreign investors. He underscored the importance of creating conditions that allow not only Astana and Almaty but also the regions to fully realize their potential.

"I have set the task of building a comprehensive innovation ecosystem in all regional centers, closely coordinated with the real sector and based on regional universities. The success of Astana Hub should serve as a model for wide-scale implementation," added Tokayev.

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