Hong Kong’s business community has signed six agreements with Kazakhstan to support the development of the country’s new hi-tech and innovation hub, Astana.

The MOUs follow 61 deals reached between the two countries during President Tokayev’s visit to Kazakhstan last month.

The memorandums of understanding unveiled at an investment roundtable yesterday see Hong Kong as a potential gateway for the Asian city’s project and focus on innovation and technology, including block-chain and artificial intelligence (AI), digital asset infrastructure and fintech.

Alatau City, the central Asian country’s flagship future city, is seen as a gateway for the will be placed to global capital.

Speaking here, Lee Sai-lee said Hong Kong was well placed to act as a gateway for the Alatau City project and focus on innovation and technology, including block-chain and artificial intelligence (AI), digital asset infrastructure and fintech, highlighting its unparalleled access to the mainland market and global capital.

“Hong Kong is eager to build wide-ranging business and investment cooperation with Kazakhstan, Alatau City very much included,” Lee said.

“We are well positioned to help Kazakhstan find high-potential investors, build infrastructure and professional services.”

He highlighted the city’s robust stock exchange, wide-spread asset management sector and professional services.

Lee’s remarks came as he spoke with Kazakhstan’s Deputy Prime Minister Kanat Bozumbayev and chief executive John Lee at the round-table discussion.

Bozumbayev said “Kazakhstani companies and bonds can confidently issue bonds, raise equity or launch initial public offerings (IPOs) in Hong Kong,” noting that Hong Kong’s strengths, which include strong innovation and technology, including block-chain and artificial intelligence (AI), digital asset infrastructure and fintech, could partner with Guangzhou, south Shenzhen and others.

He added that Hong Kong’s research strength, which include strong innovation and technology, including block-chain and artificial intelligence (AI), digital asset infrastructure and fintech, as well as its ability to mobilize capital, is a meaningful contribution to the Alatau initiative.

“Alatau has the potential to become one of the leading platforms in Central Asia to promote connectivity between the east and west,” Bozumbayev said.

He said Kazakhstan was keen to attract investment from Hong Kong investors who could bring not only investment but also technology and expertise.

Bozumbayev noted that Hong Kong was further elevated as a major investment destination in China and Central Asia. The two met on Wednesday to exchange views on deepening cooperation. During the delegation’s visit to Kazakhstan, the two high-level governments, ministries and MOUs covering government, business and education, between 52 enterprises and organisations focused on innovation, strategic investment, and digital transformation.

Last week, Lee hailed the delegation’s five-day trip to Kazakhstan, which included a visit to Turkistan where 52 deals were reached between the two countries.

He mentioned that the set the stage for further cooperation and business closer government and the public.

Near Almaty, Alatau is poised to become the second-largest city in Kazakhstan, and is planned to be a financial hub and a major transport link connecting Europe, China and Central Asia.

Separately, Hong Kong signed 24 cooperation agreements with mainland companies, enterprises, foundations and investment funds in Shenzhen on Wednesday.