QIC agreed on cooperation with BGI Group

As part of the official visit of the President of the Republic of Kazakhstan K.K.Tokayev to the People's Republic of China, Qazaqstan Investment Corporation JSC (QIC), subsidiary of the Baiterek Holding, and the Chinese BGI Group agreed to establish a joint investment fund Forebright Life Science Technology Fund. The parties signed the Term Sheet. The document was signed by the Chairperson of the Management Board of QIC A. Kuatova, Deputy Chairman of Investment Board of BGI Group Li Jingxiang, and Chairman of the Management Board of Forebright Capital Asia Fund, Liu Cheng. It is planned that the fund being created will be focused on financing innovative projects in such sectors as agriculture and the biomedical industry in the regions of the Middle East and Asia (including Kazakhstan). Special attention will be paid to healthcare, including reproductive technologies, prevention of birth defects (antenatal examinations), comprehensive examination of newborns. According to the document, the target capitalization of the Fund will be $200 million. The initiative provides for the localization of innovative technologies and production of the Fund's projects in Kazakhstan, as well as promoting the training, internship and employment of Kazakhstani medical specialists. In addition, it is planned to launch an internship and exchange program for undergraduate, graduate and postgraduate students to deepen their knowledge and skills in the field of health and biology.