Astana Hub and Park of Innovative Technologies to merge
Today, the Senate passed the Law "On Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan on Matters of Improving the System of State Support for the Innovation Industry and State Statistics" in two readings, Kazinform News Agency reports.
Senator Shakarym Buktugutov stated that the law's main objective is to enhance the Astana Hub cluster, a key tool for implementing Kazakhstan's digital development strategy. The new law is designed to enhance the system of state support for innovation and create favorable conditions for adopting new technologies. It includes amendments to the Civil and Entrepreneurial Codes, as well as ten other laws.
The senator announced, "The Law provides for the merger of Astana Hub international technology park and the Park of Innovative Technologies into a single autonomous cluster fund - Astana Hub. The primary goal is to consolidate all innovation ecosystem support tools into one entity and scale Astana Hub's successful IT practices to other innovative fields. Accordingly, amendments have been made to align terminology, optimize the functions of the new fund, and streamline its innovation support tools."
To reduce government spending and ensure the fund's self-sufficiency, the Senate has also introduced amendments to improve its financing. These include:
- Allowing the fund to be financed through membership fees from Astana Hub participants.
- Excluding funds previously provided by subsoil users as part of their annual obligation to finance research and development projects.
Earlier, Kazinform reported that Kazakhstan's IT sector surged past 18,000 companies.