National Fund to invest up to $1B in high-tech economy
Kazakhstan plans to invest up to $1 billion from its National Fund into high-tech economic sectors, Deputy Prime Minister - Minister of National Economy Serik Zhumangarin told a Government meeting, Kazinform News Agency reports.
"Together with the National Bank, a program will be developed to invest up to $1 billion in high-tech sectors. The funds will be attracted from the National Fund and second-tier banks," he stated.
Additionally, a draft law "On banks" will be prepared. The law is designed to promote fintech, liberalize the trade of digital assets, and encourage the attraction of banks' free liquidity into the real economic sector.
Earlier, Zhumangarin said that the Kazakh Government plans to attract over 5 trillion tenge in investments.
As Kazinform reported, President Kassym-Jomart Tokayev has set a task to the Government to draw up an action plan to renovate the country's investment attraction system.