Kazinform: Kazakhstan, Singapore seek to promote biotechnology, medicine, digital sector

Country: Kazakhstan
Kazinform: Kazakhstan, Singapore seek to promote biotechnology, medicine, digital sector
24 May 2024

During his state visit to Singapore, Head of State Kassym-Jomart Tokayev participated in the closing ceremony of the Kazakhstan-Singapore Business Forum, where he emphasized the significant potential for collaboration in specific sectors such as biotechnology, medicine, and the digital industry. Highlighting the robust growth of Kazakhstan's pharmaceutical market, Tokayev noted the participation of major global players like Pfizer, Roche, GE Healthcare, and Philips, who are planning to localize production in the country. He welcomed initiatives such as the establishment of an investment fund by Baiterek national holding and Forebright company, aimed at supporting joint studies and the production of pharmaceuticals and biological products. Moreover, Kazakhstan aspires to position itself as a leading technological and IT hub in Eurasia, drawing inspiration from Singapore's example. In this regard, Tokayev expressed a desire for extensive cooperation in research and development (R&D) projects, startups, and educational initiatives, particularly focusing on the advancement of artificial intelligence (AI) technologies.

Tokayev also underscored the competitive advantages of the Astana International Financial Center (AIFC) in promoting investment, citing its successful collaboration with Singapore's Monetary Authority. This partnership aims to foster advancements in fintech, green finance, and Islamic banking.

Following the forum, a series of commercial agreements were signed, reflecting the depth and breadth of bilateral cooperation. These agreements encompassed strategic partnerships between Kazpost JSC and SingPost, the establishment of a digital corridor between KTZ Express JSC and Global DTC, and further collaboration between Kazakhstan Temir Zholy JSC and various Singaporean entities. Additionally, investment agreements were forged in the life sciences sector, with commitments from Forebright Capital Asia Private Limited and BGI Hong Kong Tech Co., Limited. Other agreements focused on fostering cooperation in education, trade promotion, regional development, and digital innovation, reflecting the diverse range of opportunities for collaboration between Kazakhstan and Singapore.

Please find original version of article below: 

Photo Credit: Akorda

The information shared by the Islamic Organization for Food Security (“IOFS”) on iofs.org.kz (the “Site”) serves solely for general informational purposes. As a non-profit international organization, IOFS provides this information in good faith, with no intention to commercialize, profit, or exploit any content. Commercial use, including reselling, charging for access, redistribution, or creating derivative works, such as unofficial translations based on these documents, is strictly prohibited. All posts, publications, texts, and any other information on the Site, owned by authors and references, are appropriately linked.

IOFS disclaims any liability for loss or damage of any kind resulting from the use of the Site. Your understanding and compliance with these terms contribute to maintaining the informative and non-commercial nature of our platform.