Samruk-Kazyna JSC (“the Fund”) and General Electric (“GE”) signed a preliminary agreement of cooperation aimed at evaluating potential cooperation in creating a sustainable digital ecosystem for the fund’s industrial companies, as well as for other potential businesses in Kazakhstan.

The Fund is currently carrying out an initiative aimed at accelerating the adoption of digital solutions and services at its portfolio companies in alignment with the strategy outlined by President Nazarbayev for the country’s third wave of modernization. Samruk-Kazyna is considering GE as a potential strategic partner due to the company’s deep expertise in the digital and industrial domains, as well as its readiness to support the development of digital infrastructure in Kazakhstan.

The agreement provides for joint development of a road map to execute a digitalization strategy for Samruk Kazyna’s subsidiaries. Deploying GE digital technologies would enable Samruk-Kazyna’s businesses to forecast equipment health, minimizing the risk of unplanned downtime by predicting and addressing potential issues in advance. The companies also agreed to evaluate possible localization of Predix-based digital solutions — from edge to cloud — which would help nurture the developer community in Kazakhstan in partnership with the region’s leading universities.

Umirzak Shukeyev, Chairman of the Management Board, Samruk-Kazyna, said: “The implementation of this joint project between GE and Samruk-Kazyna will enable the creation of an active digital ecosystem in Kazakhstan and the digitalization of the country's industries.”

Deborah Sherry, General Manager & Chief Commercial Officer, GE Digital Europe & Russia/CIS, noted: “We are happy to be expanding our cooperation with Samruk-Kazyna and taking concrete steps to help digitize industry in Kazakhstan. This new agreement will open new opportunities to improve productivity at some of the largest industrial businesses in the country. By deploying GE Predix-based digital solutions in Kazakhstan, we have an opportunity to be the catalyst for a new generation of digital industrial innovation in Central Asia’s largest economy.”