Opportunities of AIFC
The opportunities of the Astana International Financial Center were presented in Germany. As part of the economic week, Frankfurt hosted an event where leading businessmen, investors and financiers from all over Europe took part. They were introduced to activities of the financial center and prospects that are open for participating companies. Kairat Kelimbetov highlighted that the AIFC’s ability to embody the best models of financial centers in New York, London, Singapore and Dubai. The principles and norms of the English law will function on the organization’s territory. The participants of the financial center get simplified tax, labor and visa entry regimes.
KAIRAT KELIMBETOV, GOVERNOR, AIFC:
- From January 1, the Astana International Financial Center will begin registration of companies. In order to make our center work, amendments were made to the Constitution. The Constitutional Law on the Astana International Financial Center was adopted. Next year we are already planning to launch active operations to attract investment. Frankfurt is of great interest for us. Moreover, we are interested in cooperation with Deutsche Börse group which is the leading exchange organization in Europe and with such institutions as Deutsche Bank, Commerzbank and with the structures that ensure the development of Frankfurt as a financial center.
After the presentation, the discussion continued in the panel discussion. The heads of leading financial institutions in Germany showed the interest. According to them, the AIFC has every chance to become a leader in the financial market of Central Asia. The modern approach and digitalization of the economy will help attract more foreign investments to Kazakhstan.
PETER TILS, CHIEF EXECUTIVE OFFICER OF CENTRAL AND EASTERN EUROPE REGION, DEUTSCHE BANK:
- Perhaps, in the future your center will cooperate with the financial center of Frankfurt. I think that the German companies will benefit from this and will be able to work in Kazakhstan with the largest banks. This, of course, will give more liquidity and may lead to the fact that new innovative services and products will appear in the banking sector.
KLAUS MANGOLD, CHAIRMAN, SUPERVISORY BOARD, ROTHSCHILD GMBH:
- The AIFC plays a huge role for Kazakhstan’s further development. A good platform is created not only for Kazakhstan’s development, but also for the entire Central Asian business community. I think that the AIFC is an important tool that will soon begin to operate. The advantages include Kazakhstan’s membership in the EAEU and the Customs Union, which also have highly qualified personnel and, of course, resources.
European experts are confident that the Astana financial center will open new prospects for Kazakhstan. They highlight that the organization will not only increase the country's GDP, but will also make the domestic economy competitive in the international arena.