BAKU, Azerbaijan, June 22. Kazakhstan’s Alatau
City Bank and Halyk Bank will cooperate on the development of
Alatau city, the press service of Alatau City Bank said.


“Alatau City Authority, Alatau City Bank, and Halyk Bank have
signed a Memorandum of Cooperation aimed at supporting the
comprehensive development of Alatau city as Kazakhstan’s new center
for innovation, technology, investment, and entrepreneurship,” the
statement said.


The document was signed by Chief Executive Officer of Alatau
City Authority Alisher Abdykadyrov, Chairman of the Board of
Directors of Alatau City Bank Kuat Kozhakhmetov, and Chairperson of
the Management Board of Halyk Bank Umut Shayakhmetova.


According to the statement, 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, tokenization of real-world assets, and the
introduction of advanced digital solutions into urban
infrastructure.


In addition, the parties intend to cooperate in high-tech
industries, including transport and logistics, tourism, education,
science, and healthcare.







The partnership is expected to create favorable conditions for
implementing joint projects, attracting investment, introducing
innovative technologies, and developing a modern urban environment
aligned with international standards.


The signed agreement serves as a framework arrangement. Specific
projects and implementation mechanisms will be determined
separately and formalized through additional agreements in
accordance with the legislation of Kazakhstan.


“Alatau city is being created as a new growth point for
Kazakhstan’s economy, bringing together innovation, technology, and
entrepreneurship. To achieve these goals, it is important to build
strong partnerships between the state, financial institutions, and
business. The signed agreement will combine the parties’ expertise
to implement projects that contribute to the development of a
modern urban environment and increase Alatau’s investment
attractiveness,” Alisher Abdykadyrov said.


Alatau is a planned new technology city near Almaty with a
special legal status. It is expected to become a fully digital
city, where infrastructure, urban services, and the economy are
integrated through big data, advanced technologies, and smart
governance.