Most OECD countries have expressed a desire to use the exchange instruments of the Astana International Financial Center, and some intend to become its residents, according to the survey conducted among key OECD investors by Boston Consulting Group. The launch of the International Financial Center is expected in 2018. Kazakhstan’s unique location provides the opportunity to create the largest financial and economic hub. Kazakhstan is not only the geographical center of the largest continent in the Earth, but also the center of the resurgent Great Silk Road linking Europe and Asia. The financial institute will attract leading investors from all over the world to Kazakhstan and throughout Central Asia.

 

KAIRAT KELIMBETOV, GOVERNOR, ASTANA INTERNATIONAL FINANCIAL CENTRE

- The entire year of 2016 was devoted to promotion of Astana International Financial Center abroad. The center will operate on the basis of the Expo town starting from January 1, 2018. This year, we are planning to create the Center’s stock exchange. Cooperation has been established with the Middle East, South-East Asia; we are expecting Asian markets to express great interest.

 

After Expo 2017, two huge pavilions will be transferred to Astana Financial Center. According to Kairat Kelimbetov, 18,000 new jobs will be created, 3,000 of which will be provided for Kazakh specialists. The Center will also issue large companies’ securities and government bonds. It will hire residents of the world’s largest financial organizations, investment banks and Islamic financial institutes. Kazakhstan is creating favorable conditions for the Center’s successful operation. For instance, the Center’s residence will be exempted from taxes for 50 years.

 

MIRAS DAULENOV, DEPUTY CHAIRMAN, KAZGUU UNIVERSITY JSC

- It is necessary to create favorable conditions for investors at the Astana International Financial Center. It can be exemption from taxes, for instance. Investors will need some privileges and preferences to work here.

 

The Astana International Financial Center (AIFC) is adopting the experience of Singapore, Dubai, as well as great financial institutions in New York and London. Unique legal system is being created at the Astana Financial Center, with independent arbitration to protect assets. As the oldest financial centers, the AIFC will follow the rules of English law.

 

MICHAEL RYAN, CHAIRMAN, QATAR FINANCIAL CENTRE REGULATORY AUTHORITY

- Invitation of the policy and the establishment of the center, I think, will have a very positive impact on foreign direct investment into Kazakhstan, which I think is the objective, and it also gives you an opportunity to create an environment for those that are investing.

 

The Astana International Financial Center’s management will provide perfect investment conditions that have no analogues in the CIS. All this, according to experts, will help to attract more foreign investors.

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