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Nazarbayev called foreign investors to channel 1% of profits into innovations

29 may 2011, 16:06
Nursultan Nazarbayev. ©REUTERS
Nursultan Nazarbayev. ©REUTERS
Big investment companies have to allocate at least one percent of their profits to development and implementation of innovations, KazTAG reports citing Kazakhstan President Nursultan Nazarbayev.

“Each national company, every enterprise and plant have to have their own scientific research institute, their own research, design and experimental projects, and allocate funds for innovations. We should make sure that all oil and metallurgic companies channel at least one percent of their profits into innovations,” Nazarbayev said at the forum Innovative Kazakhstan-2020 in Almaty.

“For sure we will have to learn a lot those who already have the technologies. There should be transfer of technologies. But we will have to further develop ourselves,” he said.

The President also added that “our national companies have to develop action plans of innovative development and approve them with the government. Innovations development should also be supported by Kazakh content-related programs.”

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