Kazakhstan Plans $1 Billion Investment to Boost High-Tech Sector

According to PANews, Kazakhstan's President Kassym-Jomart Tokayev has underscored the significance of attracting capital to the high-tech sector. He has instructed the government and the national bank to develop an investment plan worth up to $1 billion to foster technological advancement. Additionally, Tokayev proposed the establishment of a national digital asset fund under the national bank's investment company. This fund aims to accumulate strategic cryptocurrency reserves and incorporate promising digital assets into the evolving financial landscape. Tokayev also urged the development of new tools to inject bank liquidity into the economy and emphasized the necessity of drafting new banking legislation. The proposed law seeks to enhance competition, attract new market participants, strengthen fintech development, and liberalize digital asset circulation. He stressed the need to accelerate the construction of a comprehensive digital asset ecosystem in Kazakhstan. Tokayev mentioned the introduction of the digital tenge, a digital currency that has been utilized by the national fund for project financing.