5 July 2024 – Hong Kong – Hong Kong-Shenzhen Innovation and Technology Park Limited (HSITPL) and Qazaqstan Investment Corporation (QIC), a fund of private equity and venture capital funds with state participation by the Kazakhstan government, signed a Memorandum of Understanding (MoU) on July 3. HSITPL and QIC will leverage the synergies between the two platforms to empower I&T development in the Guangdong–Hong Kong–Macao Greater Bay Area and Belt and Road Initiative countries.
The MoU signing between HSITPL and QIC coincides timely with the Shanghai Cooperation Organisation (SCO) Summit in Astana, the annual event where the leaders of SCO member states, including China and Kazakhstan, convene to discuss issues of multilateral cooperation, which synchronize with HSITPL and QIC’s emphasis on connectivity and international cooperation.
Mr. Vincent Ma, Chief Executive Officer of HSITPL said, “We look forward to connecting the QIC investor network into the Hong Kong-Shenzhen Innovation and Technology Park (HSITP) ecosystem family, whereby our partnered tech ventures and startups will be empowered to seize first-mover advantages to have market access to Central Asia, one of the most sought-after emerging markets for business expansion. I trust that QIC will also become a formidable partner for our tech companies at different stages of their growth journey. This collaboration will further enrich the ecosystem and expand the market reach in support of HSITP’s vision to be developed into a world-class international I&T centre.”
Mr. Yerbolat Zholat, Chairman of Qazaqstan Investment Corporation (QIC) said, “As a key player and driver of the private capital and venture market in Kazakhstan, it is our priority to capitalize on the best opportunities that promote the growth and development of the national economy. We anticipate HSITP to be the breeding ground for synergistic innovations and collaborations, bridging I&T talents, resources, and market forces to build a sustainable I&T ecosystem.”
Under the MoU, HSITP will become the first Hong Kong I&T park to partner with QIC, an institutional investor of Kazakhstan and a member of 18 private equity funds, with a total capitalization of more than USD$2.7 billion. Leveraging the collective synergy of HSITP’s I&T ecosystem, both parties will proactively explore cooperative initiatives to support technology venture companies and innovative projects through entrepreneurship program, office tenancy, and essential business operation support for their business development in Hong Kong, Mainland China, Kazakhstan, and the Central Asia region.
