BAKU, Azerbaijan, January 24. Kazakhstan's Qazaqstan Investment Corporation JSC (QIC) has signed an agreement with the Chinese BGI Group to create a joint investment fund (Forebright Life Science Technology Fund), a source in the corporation told Trend.
According to the source, the created fund will focus on financing innovative projects in the fields of multiomics technologies and synthetic biology in the regions of the Middle East and Asia, including Kazakhstan.
"Particular attention will be paid to healthcare, including the development of reproductive technologies, prenatal examinations to prevent birth defects, and comprehensive examinations of newborns," the source said.
The source noted that the initiative provides for the localization of innovative technologies and the production of the Fund's projects in Kazakhstan, as well as promoting the training, internship, and employment of Kazakh medical specialists.
Meanwhile, in October 2023, Kazakhstan and China signed a number of documents in the fields of energy, transport, investment, the transfer of production technologies, etc. A total of 30 commercial documents were signed, for a total of $16.54 billion.
Furthermore, QIC is a fund of private equity funds with state participation, created to promote the growth and development of the national economy of Kazakhstan. The activity of QIC is aimed at forming private equity infrastructure in the country and attracting foreign investment in priority sectors of the economy. For every dollar invested, QIC attracts $2.1 from the funds of foreign partners.