RIYADH: Abu Dhabi’s investment company ADQ announced a co-investment platform cooperation with Qazaqstan Investment Corp. in an effort to double down on high growth markets. The new venture focuses on sectors with significant growth potential, including food and agriculture, mobility and healthcare as well as energy transformation and clean technology, financial services technology and education technology. This collaborative platform is designed to identify and capitalize on investment opportunities not only in Kazakhstan but also across Central Asia and the Caucasus region. “The co-investment platform underlines ADQ’s commitment to developing partnerships in key markets that complement our investment strategy, which allows other nations to benefit from the considerable, diverse expertise our portfolio encapsulates,” said Mohamed Al-Suwaidi, managing director and CEO of ADQ. Both ADQ and QIC have committed to providing equal financial and operational support for each investment under this partnership. “We are confident that our collaboration will bring forward notable investments that will unlock tangible value and contribute to the economic growth of the UAE, Kazakhstan and the wider Central Asia and Caucus region,” Al-Suwaidi added. With its extensive investment experience spanning a similar range of sectors, ADQ is set to infuse the platform with its sector-specific insights and investment acumen. “We are interested in developing bilateral relations between Kazakhstan and the UAE, in particular attracting direct investment to implement investment projects in the manufacturing industry and infrastructure. Investment cooperation between Qazaqstan Investment Corp. and ADQ will have great potential for further economic development of the entire region,” said Nurlan Baibazarov, chairman of the management board of Baiterek National Management Holding JSC, QIC’s parent organization. Established in 2007, QIC functions as a fund of private equity funds with state participation. Its formation aimed at fostering the national economy’s growth and development in Kazakhstan. The organization’s influence in advancing the economies of neighboring countries is expected to amplify with the establishment of the new co-investment platform with ADQ. Furthermore, the establishment of this co-investment platform marks a significant step in the longstanding bilateral relations between the UAE and Kazakhstan, dating back to 1992.