Stay updated with the latest happenings in Central Asia, including significant developments in the fintech sector, prestigious awards won by creative projects, expansions by major international companies, and new initiatives in technology and infrastructure.
Kazakhstan
The number of fintech startups in Kazakhstan quadrupled in five years
RISE Research, in collaboration with the National Payment Corporation of Kazakhstan, Mastercard, and Tarlan Payments, conducted a comprehensive analysis of Kazakhstan's fintech market. According to the data, Kazakhstan is at the forefront of digital financial development among CIS and European countries. The share of cashless payments reached a record 89% in May 2024. Additionally, from 2019 to 2023, the number of active online banking users increased 4.6 times: from 5 million to 23.1 million.
The growth of the fintech industry is supported by the development of the fintech direction in the country's venture industry. Over the past five years, the number of fintech startups has reached a total of 200 companies, securing a leading position in venture investment volume. The sector accounted for 40% of all venture financing in Kazakhstan in 2023.
Source: rise.com.kz
Pinemelon Market video wins two platinum awards
A video created by Kazakh director Tatyana Kim and her team for Pinemelon Market won two platinum awards at the prestigious international Hermes Creative Awards 2024.
The awards were given in the Video and Writing categories, highlighting the high level of creativity and professionalism of the team.
Source: the tech
Lenovo expands its presence in Central Asia
Lenovo and ASBISC Enterprises Plc have signed an agreement to expand the supply of infrastructure solutions to the rapidly growing markets of Kazakhstan, Kyrgyzstan, and Uzbekistan.
As part of this collaboration, Lenovo will provide a wide range of solutions to Central Asian countries, including servers, storage systems, and networking equipment. These solutions will be available to both small and medium-sized businesses and large corporate clients.
Source: ictmagazine.kz
Kazakhstan to become a key transit hub for e-commerce in Central Asia
Kazakhstan will soon host one of the largest e-commerce distribution centers in Central Asia.
The project aims to ensure the prompt processing of goods and their delivery to the region, including the EU, EAEU, and Central Asia. The distribution center will be fully automated using intelligent IT solutions, which will significantly speed up logistics processes and ensure efficient customs support.
Source: gov.kz
Kazakh startup Yaya attracts investment from 500 Global in Eurasia
The startup Yaya announced that it has completed the acceleration program of 500 Global in Georgia and successfully attracted $100 000 in investment from a leading venture fund.
The program is designed by the 500 Global Investment Accelerator for tech startups from Eastern Europe, the Caucasus, and Central Asia.
Source: the tech
Uzbekistan
IT Park and EY to create a regulatory sandbox model
IT Park and EY Uzbekistan signed an agreement to develop, implement, and support a special legal regime called the Regulatory Sandbox.
The sandbox will allow companies to test innovative products and services under the supervision of regulators, avoiding strict legal requirements.
Source: digital.uz
Oman introduces visa-free regime for Uzbek citizens
The Sultanate of Oman has introduced a visa-free regime for Uzbek citizens for 14 days. Uzbeks wishing to stay in the country longer than this period can obtain an entry visa at the airport upon arrival in Oman.
Source: dunyo.info
American company Lincoln Labs Inc plans expansion in Uzbekistan
As part of expanding its activities in Uzbekistan, representatives of Lincoln Labs Inc met with IT Park. Julia Collins, co-founder of the company, visited several Uzbek universities and training centers to assess the level of local specialists' training.
As a result of the visit, Lincoln Labs Inc intends to prioritize its local office in Uzbekistan for providing services to clients from the USA.
Source: it-park.uz
Kyrgyzstan
Kyrgyz film wins top prize at Greek film festival
The Kyrgyz feature film Mountain Wagtail directed by Begaly Nargozu won the top prize, the Golden Tree, at the VI Kimolos International Film Festival in Greece, held from June 24-30.
Source: 24.kg
Films by Kyrgyz director to be shown in France
The 52nd La Rochelle Cinema Festival Fema took place in France from June 28 to July 7. As part of the Kyrgyz Cinema Days in France, the Fema program included a tribute to film director Aktan Arym Kubat, who accepted an invitation to come to La Rochelle to present six of his films.
Source: 24.kg
Kyrgyzstan and Asian Development Bank to create Central Asian Guarantee Fund
The parties signed agreements on two projects totaling $106 million — the Sustainable Financial Management and Public Administration Improvement Program — Subprogram 1 and Environmental Management of Lake Issyk-Kul for Sustainable Tourism Development.
Source: 24.kg
Tajikistan
Saudi Arabia's National Credit Bureau announces partnership with zypl.ai
Qarar, a subsidiary of Saudi Arabia's first national credit bureau, announced a partnership with the Tajik startup zypl.ai, specializing in innovative credit scoring solutions.
The partnership aims to distribute zypl.ai's AI-based software in the Saudi market.
Source: asiaplustj
Flights between Dushanbe and Islamabad resume
Somon Air is resuming flights to the capital of Pakistan. Flights will be operated on a regular basis.
Source: tj.sputniknews.ru
