Astana International Financial Center’s activities were presented in Zurich
Astana International Financial Center’s activities were presented in Zurich. Representatives of the leading Swiss companies attended the event where they were informed about the AIFC’s operations as an international financial hub that unites the Asian and Eurasian markets. Today, Switzerland is the largest international financial hub. The Swiss franc is one of the top reserve currencies of the world, while Switzerland’s banking system is considered one of the most developed banking industries in the world. That is why it is important for the new Astana International Financial Center to establish partnerships with the leading Swiss financial institutes.
KAIRAT KELIMBETOV, GOVERNOR, ASTANA INTERNATIONAL FINANCIAL CENTER:
- There are several similar financial centers in Switzerland in the cities of Zurich, Geneva and Basel. There is the Swiss National Bank that is a partner of Kazakhstan’s National Bank, there are also large banking institutions, such as UBS, UBP, Pictet, investments banks such as Credit Suisse and private banks such as Julius Baer. Representatives of all these institutions know well about Kazakhstan, as they work very closely with many national companies and banking institutions of Kazakhstan.
MASSIMILIANO CASTELLI, MANAGING DIRECTOR, UBS ASSET MANAGEMENT:
- We are already present in Kazakhstan, we have people for UBS working in Kazakhstan and of course we are looking to the new Astana International Financial Center with great attention over the next few months. Kazakhstan has the right institutionally macroeconomic framework to navigate through this time and the plan for the long term. There is a clear gap between Europe and Asia. We know that there is a lot of flow of capital and investment from Asia in the outside world and of course also going into Asia.
As part of the AIFC launch, substantial preparatory work has been performed with the adoption of about 50 legal acts over the last two years. The best practices of the large international financial centers located in London, Dubai, Singapore and Hong Kong were considered in the work of the new center. According to the Governor of the AIFC, the agency regulating all financial institutions and Kazakhstan Stock Exchange that will carry out privatization are ready for the official start. This platform is established jointly with the American Nasdaq Corporation and Shanghai Stock Exchange.
HANS BISCHOFF, REPRESENTATIVE OF INVESTMENT COMPANY IN GERMANY:
- So the investment climate in Kazakhstan is very good for European companies. They get a lot of support it’s secured it’s good support, low taxes and huge market. I will come to Kazakhstan at 1st of July, there’s a delegation from German entrepreneurs looking for businesses in Kazakhstan.
According to experts and financial analysts, Zurich will become one of the most important strategic partners of the Astana International Financial Center in Europe.