Kazakhstan to spend 1% of its GDP on innovations by 2014

Currently, Kazakhstan spends on innovation 0.2% of its GDP, Ms. Zarina Arslanova, Head of the National Innovation Fund, said. The figure is to be brought up to 1% of the national GDP by 2014, KazTAG agency reports. According to her, the country’s new innovation policy is shifting from financing grand-scaled projects primarily to innovation grants provided in all the sectors. Most of innovations in Kazakhstan emerge in Oil and Gas and space industries. This years’ priority are high tech developments related to alternative sources of energy and education realm. “By the end of 2011, President instructed to define 20 “absolute” innovations, that is brand new innovations emerging throughout the world (…) by the end of the year we are expected to bring the best foreign technology and customize them to build on them later on”, she said.