Samruk-Kazyna, Presight plan digital transformation JV in Kazakhstan
ASTANA, October 12, 2023
Samruk-Kazyna, Kazakhstan's sovereign wealth fund with $70-billion assets, and UAE-based Presight have signed a term sheet to establish a joint venture to accelerate digital transformation in Kazakhstan
The agreement was signed on the sidelines of the Digital Bridge 2023 forum in Astana where Kassym-Jomart Tokayev, President of Kazakhstan; Bagdat Mussin, Minister of Digital Development Kazakhstan; and Nurlan Zhakupov, CEO of Samruk-Kazyna, met with Thomas Pramotedham, CEO of Presight.
Endorsed by the President of Kazakhstan, both Samruk-Kazyna and Presight will embark on the joint venture aimed at accelerating digital transformation in Kazakhstan through the deployment of Presight’s AI and big data analytics solutions and technologies.
These will help to boost operational efficiency, minimise production losses, and develop human capital across the Samruk-Kazyna portfolio companies and in other key sectors of Kazakhstan, including energy, telecoms, transport, government, and public services, thereby enhancing socio-economic prospects, said a statement.
Zhakupov said: "As a strategic asset manager of the country, Samruk-Kazyna sees digitalization as one of its priorities. I hope that together with Presight we will strengthen the partnership between our countries and contribute to the creation of a single digital community’’
Pramotedham said: "We are proud to be joining forces with Samruk-Kazyna in this presidentially endorsed initiative in Kazakhstan. This partnership provides us with a unique opportunity to contribute our expertise in AI and data analytics, not just to accelerate digital transformation, but also to enhance socio-economic prospects for the people of Kazakhstan."
Samruk-Kazyna is one of the 30 largest funds in the world. The fund plays an important role in the development of the economy of Kazakhstan, concentrating strategic assets in its portfolio in the oil and gas, transport and logistics sectors, energy, nuclear industry, and mining and metallurgical complex. - TradeArabia News Service
