Kazakhstan will diversify its economy. And this entails removing dependence on exports of mineral resources, development of manufacturing industry and small and medium-sized businesses. Managing Director of International Financial Center ‘Astana’ Kairat Kelimbetov said at the interview for the Reuters Agency that Kazakhstan will be developed following the Dubai example.

 

KAIRAT KELIMBETOV, GOVERNOR OF ASTANA INTERNATIONAL FINANCIAL CENTRE:

The recent drop of the oil price was like a wake-up call for us just to realize that there are two very important issues: first of all, so probably the era of high oil prices is over, and the second, which is very much related to the theme of Expo 2017 that the, let's say the global economy, especially the developed economies are now moving to the new paradigm which is alternative energy development, and all the countries actually committed to the COP 21 Conference agenda. And Kazakhstan as well is committed to this agenda, we have certain targets up to 2030 and also certain targets up to 2050.

 

According to Kairat Kelimbetov, new financial instruments will help to escape from the usual sources of income.

 

KAIRAT KELIMBETOV, GOVERNOR OF ASTANA INTERNATIONAL FINANCIAL CENTRE:

So back to the, let's say the role of diversification, so usually it's like clusters in the manufacturing industry which is based on our natural advantages like, let's say petrochemical industry or oil and gas machinery industry, or based on mining or metallurgy or food-processing based on agriculture, but also the new industries so everyone in the world is now thinking about Fintech, e-commerce, e-government.

 

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