US$165 Million Raised Through AIFC Platform
The Astana International Financial Center continues to take an active part in promoting the sustainable economic development of Kazakhstan. Last year, more than US$165 million was raised through its platform.
According to experts, the funds raised were used mainly for the country’s infrastructure projects, financial industry, and banking. According to analysts, such results were achieved due to the special legal system of the financial center acting on the principles of English law and the creation of an independent regulatory environment based on international best practices. Today, more than 380 companies from 36 countries including Russia, China, USA, UK, and India are registered at the AIFC site.
“There are a number of large international players who consider Kazakhstan as a region for investment. There are large players who have joined, including the large investment banks from China and other countries from the West. Until the end of 2020, we plan to attract nearly 500 participants. Now we are focusing on financial institutions and consulting companies,” Staff of Subsidiary Company of AIFC, Aslan Kokayev.
“The center revives the opportunity for those companies to restructure their finance and to be able to take advantage of conducting their business and commercial affairs under English common law and to be able to take advantage of the tax breaks. Our particular business is a consulting business. We aim to help potential participants and existing participants to be able to grow that business within the AIFC and across the region,” said General Director, Consulting Company, Will Aston.