At the Kazakhstan-Singapore Business
Forum, President Kassym-Jomart Tokayev unveiled a new ambitious project dubbed ‘Singapore
of Central Asia’ - an international hub to be constructed in Kazakhstan as well
as invited business circles to cooperation. The Head of State emphasized that Kazakhstan
has embarked on extensive reforms aimed at developing a free market,
stimulating innovation, and transitioning to a knowledge-based economy. To
attract new investors, the country is providing them support, including the
establishment of an Investment Council. Besides, President Tokayev outlined a
number of other promising areas of partnership, particularly, in exploration
and extraction of critical raw materials and natural resources, renewable
energy, as well as transport and logistics sphere. Singaporean companies were
invited to establish joint agro-innovation centers. Also, there are significant
opportunities for cooperation between the parties in one of the most advanced
sectors - biotechnology. Thus, Kazakhstan and Singapore will create an
investment fund to finance research and production of biopharmaceuticals.
