Digital technologies are reshaping the dynamics of competition and the geopolitical balance of power. Even in Central Asia, an IT industry is quickly emerging, says Anatoly Motkin in an interview with the journalist of The Banker.
As demand for tech talent grows, investors and firms alike may look to new sources of expertise. Central Asian countries could become new technological hotspots for companies from elsewhere, Mr Motkin says, driving more investment from multilateral banks that will likely extend also into the Caucasus region.
Collaboration with the Gulf states is growing too. “We want to open up the dialogue about the opportunities in central Asia and the Caucasus,” Mr Motkin says. “That’s how we began working with the Gulf states. It started with Qatar, the Emirates, and in Saudi Arabia.”
Operating in the same time zone and living within similar cultures underlines the opportunity, Mr Motkin says. “And central Asia offers the same level of delivery as Silicon Valley, but much cheaper,” he adds.
Regardless of the region’s global partners, Mr Motkin predicts central Asia will become one of the most advanced fintech regions. A third global leader may emerge, alongside the US and China, as the Gulf states bring in digital expertise from the Caucasus and Central Asia, he says.
The Banker is an international financial affairs publication owned by The Financial Times Ltd. The Banker provides economic and financial intelligence for the world’s financial sector and has built a reputation for objective and incisive reporting. The Banker has been the trusted source of banking information since 1926. The Banker has navigated its way through over 90 years of banking coverage from the Wall Street Crash of 1929 to the financial crisis of 2008 with the same reputation for accuracy, authority and integrity.
