Effective attracting of investments is a strong factor affecting and often shaping the success of any country. Kazakhstan has been successful in implementing policies and introducing legal framework to create a good investment climate.  Foreign businesses are more eager to invest in a stable country more than anything. Astana International Financial Centre has held a presentation of Kazakhstan’s investment climate in London. The Investor Day was attended by the heads of major British and international investment companies. According to the Chair for Russia, CIS and Mongolia Group at The City UK, Daniel Corrigan, establishment of an international financial center in the Kazakh capital gives a clear signal that the country is open to do business and has the necessary conditions for foreign investors. The company led by Daniel Corrigan is actively involved in the development of the Astana International Financial Center. The Eurasian Bank for Reconstruction and Development is helping to do that under the recently signed Memorandum of Understanding.

 

DANIEL CORRIGAN, CHAIR FOR RUSSIA, CIS AND MONGOLIA GROUP, THE CITY UK:

We recently visited Astana. We went over there for a week along with many other people from the City UK to talk about the development of the ambitious but realizable plan. And today it was a great follow-up be the people of the Embassy.

 

Astana International Financial Centre has a bright future, experts believe. The main components of success of financial institutions, according to the British law firm partner Simon Cox, will be the application of the English law and use of English as a working language of the organization. These two factors will make Kazakhstan even more attractive for investors.

 

SIMON COX, PARTNER, NORTON ROSE FULBRIGHT LLP:

I think it’s a very exciting opportunity for London and Astana to work together. I think there is a long tradition of this cooperation. I am attending some meetings in Astana next month on developing corporate governance.

 

Kazakh Ambassador to the United Kingdom, Yerzhan Kazykhanov, also met with the representatives of the British and international business circles, where he mentioned that the new financial center will allow the Kazakh business to expand internationally, and will let the foreign business enter the Kazakh market. The head of the Astana International Financial Centre International, Kairat Kelimbetov told the participants of the meeting about the strategic challenges facing the center. He noted that its creation is part of the reforms aimed at diversifying the Kazakh economy.

 

KAIRAT KELIMBETOV, HEAD OF ASTANA INTERNATIONAL FINANCIAL CENTRE:

We see great interest among the companies in London in the privatization process ongoing in our country. Recently we have had meetings with the representatives of the Samruk-Kazyna Fund, National holding companies that are to be privatized in the coming years.

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