Vietnamese company SOVICO Group has bought the airline Qazaq Air. This was announced by President Kassym-Jomart Tokayev at the Kazakhstan-Singapore business forum in Singapore.
The press service of Akorda reports that the head of state noted the strong ties between Kazakhstan and Singapore.
Kassym-Jomart Tokayev cited the partnership between the Kazakh company KTZ and the Singaporean company PSA International, aimed at expanding the potential of the Trans-Caspian International Transport Route, as an example.
"This route can fundamentally change the level of Eurasian cooperation. It is the shortest and most sustainable route from Central and East Asia to Europe. We believe that Singaporean companies and financial institutions can gain significant benefits by exploring business and investment opportunities in this area. I also welcome the privatisation of our airline Qazaq Air by the Vietnamese company SOVICO Group, which will boost air connectivity between Kazakhstan and ASEAN countries", the President stated.
At the conclusion of the forum, in the presence of Kassym-Jomart Tokayev and Deputy Prime Minister and Coordinating Minister for Economic Policy of the Republic of Singapore, Heng Swee Keat, a ceremony for signing commercial documents took place. The following were signed:
- Strategic Cooperation Agreement between JSC Kazpost and SingPost;
- Declaration on the Launch of a Digital Corridor between JSC KTZ Express and Global DTC;
- Memorandum on Further Cooperation between JSC NC Kazakhstan Temir Zholy, PSA KZ Pte Ltd, KPMC Ltd, and G-trans Service.
Additionally, on the sidelines of the business forum, the following documents were signed:
- Investment Agreement for the Forebright Life Science Technology Fund between Forebright Capital Asia Private Limited, JSC Qazaqstan Investment Corporation, and BGI Hong Kong Tech Co., Limited;
- Agreement between Biryuk Altyn LLP and AlDigi Holdings Pte. Ltd.;
- Memorandum of Understanding between the Foreign Trade Chamber of Kazakhstan LLP and the Singapore Manufacturing Federation;
- Memorandum of Understanding and Cooperation between JSC Caspian Group and China Regional Development and Planning Institute Co., Limited;
- Memorandum of Understanding between JSC Caspian Group and KPMG Samjong Accounting Corp.;
- Cooperation Agreement between Mandarin Building LLP, Singapore International School Kazakhstan LLP, and Kinder World International Group;
- Memorandum of Understanding between the Ministry of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan and Nomadic Innovation Hub;
- Investment Agreement between Nomadic Innovation Hub and Clockster;
- Investment Agreement between Nomadic Innovation Hub and the recruitment platform Snap Hunt.