Alatau City Bank and Halyk Partner to Support the Development of Alatau City
Alatau City Authority, Alatau City Bank, and Halyk Bank have signed a Memorandum of Cooperation aimed at promoting the comprehensive development of Alatau City as Kazakhstan’s new center for innovation, technology, investment, and entrepreneurship.
The document was signed by Alisher Abdykadyrov, Chief Executive Officer of Alatau City Authority, Kuat Kozhakhmetov, Chairman of the Board of Directors of Alatau City Bank, and Umut Shayakhmetova, Chairperson of the Management Board of Halyk Bank.
The signing of the memorandum marks another step in implementing the development objectives for Alatau City outlined by the President of the Republic of Kazakhstan, Kassym-Jomart Tokayev. The Head of State has repeatedly emphasized the strategic importance of establishing a modern innovation ecosystem in Alatau capable of becoming a hub for investment, talent, technology, and new industries.
“Alatau City is being developed as a new driver of Kazakhstan’s economic growth, bringing together innovation, technology, and entrepreneurship. To achieve these goals, it is essential to build strong partnerships among the government, financial institutions, and the business community. The signed agreement will enable the parties to combine their expertise in implementing projects that will contribute to the development of a modern urban environment and enhance Alatau’s investment attractiveness,” said Alisher Abdykadyrov, Chief Executive Officer of Alatau City Authority.
The agreement provides for cooperation across a broad range of areas, including the development of artificial intelligence, the low-altitude economy, smart city technologies, the Internet of Things (IoT), Web3, digital assets, fintech, the tokenization of real-world assets, as well as the implementation of advanced digital solutions within urban infrastructure.
Kuat Kozhakhmetov, Chairman of the Board of Directors of Alatau City Bank, noted: «We are pleased to be part of such an important national project as the development of Alatau City. As a pioneer in integrating the crypto industry with the traditional banking system in Kazakhstan, we view this ‘city of the future’ as a platform for implementing next-generation financial and technological solutions, including those in the field of digital assets. The signed agreement brings together the capabilities of the government and financial institutions to deliver a new generation of projects. We are confident that this partnership will accelerate the development of Alatau and help establish it as one of the most attractive investment and innovation hubs in Central Asia.»
In addition, the parties intend to cooperate in the development of high-tech industries, including transportation and logistics, tourism, education, science, and healthcare.
The cooperation will focus on creating favorable conditions for the implementation of joint projects, attracting investment, introducing innovative technologies, and developing a modern urban environment that meets the highest international standards.
The development of Alatau City aligns with the strategic objectives set by the Head of State to diversify the economy and create new growth centers. Umut Shayakhmetova, Chairperson of the Management Board of Halyk Bank, emphasized: «As the country’s largest financial institution, Halyk Bank is actively involved in projects aimed at developing digital infrastructure, supporting entrepreneurship, implementing innovative technologies, and improving the quality of life of residents. We are confident that by combining the efforts of the government, the financial sector, and the business community, we can create a modern ecosystem in Alatau that supports sustainable economic development.»
The memorandum is of a framework nature. Specific projects and mechanisms for their implementation will be determined by the parties separately and formalized through individual agreements in accordance with the legislation of the Republic of Kazakhstan.
