The Bureau of National Statistics of the Agency for Strategic Planning and Reforms of the Republic of Kazakhstan with support of the Shanghai Data Exchange, has presented an analytical paper exploring the economic potential of data.

The document outlines approaches to establishing a data exchange – a regulated platform designed to enable the secure and transparent exchange, valuation, and monetization of data among government bodies, businesses and other participants in the digital ecosystem.

Development of the data market is regarded as a key direction of digitalization, as highlighted in the Address of the Head of State. The preparation of the paper aims to foster open dialogue and engage stakeholders in discussing the role of data as a new economic asset.

The analytical paper reflects international best practices, as well as the legal and technological aspects of establishing such platforms, and considers the expected economic impacts – including improvements in data quality, the promotion of innovation, and the creation of new models of collaboration.

Joint work with the Shanghai Data Exchange made it possible to incorporate global experience and advanced approaches to organizing data trade and exchange.

“A data exchange is a regulated platform that ensures secure and managed sharing of verified data and data products among market participants. Its establishment in Kazakhstan will create the institutional foundations for lawful and safe data circulation while ensuring the protection of data owners’ rights and personal data” – said Mr. Aset Irgaliyev, Chairman of the Agency.

China’s experience demonstrates that the data market can serve as a new driver of growth – in 2022, the volume of data transactions there increased by 42%. According to OECD estimates, effective data exchange can contribute up to 2.5% to a country’s GDP.

The establishment of a data exchange in Kazakhstan will mark an important step toward forming a regional hub for data exchange and monetization, opening new opportunities for participants in the digital ecosystem and strengthening the competitiveness of the national economy.

The analytical paper is available on the official websites of the Agency and the Bureau.

Source : https://www.gov.kz/memleket/entities/aspr/press/news/details/1087428?lang=kk