The Ministry of trade and integration of the Republic of Kazakhstan and FINTECH Hub AIFC plan to develop e-Commerce in Kazakhstan

On August 19, 2020, a Memorandum of cooperation was signed between the Ministry of trade and integration of the Republic of Kazakhstan (MTI RK) and the FINTECH Hub of the Astana International Financial Center (AIFC).

This partnership will contribute to the development of the financial services and e-Commerce industries.

In particular, the parties plan to hold practical seminars, workshops, lectures, conferences and hackathons in online and offline formats for representatives of small and medium - sized businesses (SMEs), business entities, entrepreneurs, it specialists and students.

As noted in the MTI of Kazakhstan, during the pandemic, the number of purchases in Kazakhstan's online stores has doubled — from 7 million to 14 million, Kazakhstanis began to actively buy food, medicine and clothing online. In this regard, the main task of cooperation between the parties is to train entrepreneurs to transition and conduct business on the Internet.

According to the Memorandum, MTI RK will support a free online educational program for entrepreneurs of micro, small and medium-sized businesses #Support of the program prepared by specialists of Visa, the world leader in the field of digital payments and innovative payment solutions, the AIFC and the FINTECH Hub of the AIFC.

In an online educational program for micro, small and medium-sized businesses, implemented as part of the Visa global initiative #The program, designed to raise awareness of entrepreneurs about Internet technologies, e-Commerce and non-cash electronic payments, is attended by Kazakhstani and foreign experts from the fields of e-Commerce, marketing, online promotion, sales on marketplaces, payment systems, Internet acquiring and other areas. The program aims to help small businesses in various areas adapt to the new reality and transfer their business to an online format.

Educational program #Support for them is implemented on the Atameken Academy platform in the format of video tutorials. Active students will be provided with certificates of completion of the online training course.

Reference information:

The Astana international financial center (AIFC) was established on the initiative of the First President of the Republic of Kazakhstan, Nursultan Nazarbayev. The constitutional law establishing the AIFC was signed on December 7, 2015. The aim of the AIFC is to form a leading international financial services center. The objectives of the AIFC are to help attract investment to the country's economy, create an attractive environment for investment in financial services, develop the securities market of the Republic of Kazakhstan and ensure its integration with international capital markets. www.aifc.kz

The FINTECH Hub of the AIFC is the interface point for global startups, entrepreneurs, corporations, investors, leading industry experts and specialists. The development of FINTECH in the AIFC includes programs to support startups, corporate innovations, the venture capital market, specially developed rules and regulations that allow testing products and solutions in the field of FINTECH. www.fintech.aifc.kz

A global initiative by Visa #The support is designed to promote entrepreneurship and encourage consumers to support small businesses. As part of the initiative, Visa has launched an educational program, as well as a platform for supporting small businesses – a digital hub, where entrepreneurs can get professional help in resolving their business in e-Commerce, and will appreciate the advantages of Visa.Concierge and find new customers.