New opportunities for IT companies in Kazakhstan

Kazakh IT companies will be able to increase the level of their competitiveness and scale their developments in the territory of the EAEU countries. This will be facilitated by the Astana Hub ecosystem, specially created at the initiative of the Eurasian Development Bank and Zerde National Holding. According to the memorandum signed, at first, the selected startups will be financed from internal sources, and after their development and expert assessment, projects will be able to apply for investments from international financial organizations.

“The system that operates today has been created through market mechanisms. Market participants themselves determine which areas to finance. This is the most effective way. To date, 579 companies are already part of the ecosystem of Astana Hub, where a special tax regime has been created. Since April 2019, they have accumulated a volume of money in the amount of US$380 million,” said Marlen Sikhayev, Management Board Deputy Chairman, Zerde Holding.

Translation and editing by Galiya Khassenkhanova