Kazakh startups attract US$130 million in investment

27.02.2023, 15:00

Kazakh startups have attracted US$130 million in investment, the country's Ministry of Digital Development, Innovations and Aerospace Industry reports. The Ministry noted that a key strategic area is the development of IT services exports. In this regard, the national project has set special indicators as a main objective. In particular, bringing IT exports to US$500 million by 2025. It bears noting that favorable conditions are created for domestic entrepreneurs to enter the global market, and various state support measures are being implemented in Kazakhstan. In addition, the country has a mechanism for reimbursement of costs related to information and communication services for industrial and innovative institutions producing for export. This system allowed recovering nearly 60 million tenge of costs in 2022.