Kazakh Invest, Kazakhstan’s national investment company, and China’s Polyking New Horizons Technology Industry Co. Ltd have signed a memorandum of understanding to collaborate on projects in the field of low-altitude economy. Under the agreement, an industrial park is planned to be constructed in Kazakhstan, integrating drone technologies, smart cities, and intelligent manufacturing. The project will involve $200 million in investments and create 1,000 new jobs, Kazakh Invest reported.
The memorandum also provides for the development of projects in the chemical industry and innovative technologies, which will strengthen Kazakhstan’s position in the field of high-tech production.
“We see tremendous potential for integrating low-altitude technologies in sectors such as agriculture, energy, construction, and infrastructure management. By 2050, the global low-altitude economy market is expected to reach $8.8 trillion. Therefore, we are actively creating platforms for developing new industries and providing comprehensive support. I am confident that the advanced technologies and expertise of the Chinese company will give a new impetus to the development of this field in Kazakhstan,” said Azamat Kozhanov, Managing Director of Kazakh Invest.
Polyking New Horizons Technology Industry Co., Ltd is one of China’s leading companies specializing in investments in innovative technologies for logistics and supply chain management. The company is part of CITIC POLY FUND, whose key shareholders are China Poly Group and CITIC Group. These corporations play a significant role in implementing the Belt and Road Initiative.
