The Ministry of Industry and New Technologies of Tajikistan and representatives of Emirate of Ras Al Khaimah (RAK), UAE, have signed a Memorandum of Understanding (MoU) on cooperation in the field of artificial intelligence (AI) and industrial trade relations.
This document was signed during the visit of Mohammed Al-Musabbah Al-Na'imi, Chairman of the RAK Department of Trade and Industry, to Tajikistan. The document reportedly outlines the development of AI programs for Ras Al Khaimah based on Tajikistan's National AI Development Strategy until 2040.
The Memorandum was reportedly signed at the initiative of Ras Al Khaimah, which has already invested in AI-based fintech solutions developed in Tajikistan by the company zypl.ai through the Commercial Bank International (CBI), partly owned by the government of Ras Al Khaimah.
The document is expected to increase the export of AI-based software developed in Tajikistan to Ras Al Khaimah and Tajik experts will train local specialists in Ras Al Khaimah in the field of AI.
The collaboration aims to develop and implement new technological solutions and innovations in Ras Al Khaimah.
In exchange for AI strategy development, Ras Al Khaimah will provide investment support for prospective projects in Tajikistan.
The collaboration plans to attract direct investments from Ras Al Khaimah to Tajikistan, particularly in the green economy, industrial sector, including mining, manufacturing, and transport logistics.
Improved logistics will enable the expansion of Tajikistan’s exports through the transit hub at the port of Ras Al Khaimah.
Further discussions include establishing direct flights from Tajikistan to Ras Al Khaimah to increase mutual tourist flows.
The cooperation between Tajikistan and Ras Al Khaimah signifies a strategic move to leverage AI capabilities for economic growth and technological advancement. The mutual benefits of this partnership include technological innovation, investment inflows, and enhanced trade and tourism links, thereby strengthening bilateral relations.
Tajikistan became the first country in Central Asia to adopt a national AI strategy, initiated by President Emomali Rahmon in September 2022. Investment Opportunities
The zypl.ai startup was founded in 2021 by Azizjon Azimi, a graduate of Stanford University and Harvard University. Currently, zypl.ai is based at the AI & Web3 campus of the Dubai International Financial Center (DIFC) and has offices in Tajikistan and Uzbekistan with a total of 50 employees. The startup initially developed its AI solutions in the Tajikistan market, where to this day zypl.ai cooperates with a number of leading financial institutions in the country.
Over 35 banks in 12 Eurasian markets have implemented the 'zypl.score' software, originating over $130 million of loan portfolio with default rates of less than 1%.
What makes 'zypl.score' unique is the proprietary development of generative-adversarial networks (GANs) based on over 54 million traditional and alternative data.
Ras Al Khaimah (RAK) is one of the seven emirates that make up the United Arab Emirates (UAE). The city of Ras Al Khaimah, abbreviated to RAK City, is the capital of the emirate and home to most of the emirate's residents. It is linked to the Islamic trading port of Julfar. The emirate borders Oman's exclave of Musandam, and occupies part of the same peninsula. Ras Al Khaimah Economic Zone (RAKEZ) provides the best business set-up in UAE.
