Cedrus Investments, the Hong Kong-based boutique investment firm, has partnered with Kazakhstani technology company to help improve the competitiveness of one of the country's key cities.

The memorandum of understanding signed with JSC Astana Innovations entails a threefold commitment. Under the terms of the deal, Cedrus will offer analysis and advice in the technology industry, help decide on technology-related investments and other types of investment and bring related companies to Astana to set up local offices and factories.

"Developing sophisticated technology capabilities will provide breakthroughs to areas critical to strengthening Astana's current economy and create opportunities to generate significant and diverse sources of revenue for the next 10-50 years," commented Rani Jarkas, chairman of Cedrus Investments.

Astana is the capital of the Republic of Kazakhstan and JSC is 100 per cent-owned by the Mayor's office. Cedrus Investments specialises in asset management and financial advisory services.