Kazakhstan has set its sights on creating five domestic unicorns, boosting IT exports to $5bn, and integrating at least 25 AI products annually across various economic sectors by 2029. These goals are part of the newly unveiled Concept for AI Development, presented by Digital Minister Zhaslan Madiyev during a recent cabinet meeting.
A "unicorn" typically refers to a company valued at over $1bn, a milestone yet to be achieved in Kazakhstan's burgeoning tech landscape. According to Yersultan Yermanov, head of the IT Sector Development Department at the Digital Ministry, the emergence of such companies is imminent, facilitated by initiatives like Astana Hub.
Established in 2018, Astana Hub serves as an international technopark nurturing IT startups by providing favorable conditions, including exemption from income tax for resident businesses engaged in priority IT activities.
Neighboring Uzbekistan has already celebrated its first unicorn, Uzum, valued at $1.16bn. Launched in October 2022, Uzum encompasses diverse sectors such as online retail, fintech, and food delivery, boasting over 8mn active customers. With a gross merchandise value (GMV) projected to surpass $300mn this year, Uzum highlights the rapid growth potential of tech enterprises in the region.
Reflecting on Kazakhstan's IT sector's recent achievements, exports of computer services surged to $529mn in 2023, marking a 57% increase from the previous year's $337mn.
Over the past three years, Kazakhstani IT exports have surged tenfold, starting from a modest $50mn in 2020. Major export markets include the United States, Russia, the UAE, and Cyprus, underscoring Kazakhstan's growing influence in the global IT landscape.
President Kassym-Jomart Tokayev has set an interim target for IT exports to reach $1bn by 2026, aligning with broader ambitions outlined in the AI Development Concept to achieve $5bn by 2029. In 2023, Kazakhstan's IT export revenues surpassed imports of IT services ($493mn) for the first time.
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