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Tuesday, September 22nd, 2020

Astana International Financial Centre holds Investor Day in London

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by October 17, 2016 General

Today International Financial Centre Astana (AIFC) in cooperation with the Embassy of the Republic of Kazakhstan in the UK, TheCityUK and the Institute of Chartered Accountants in England and Wales (ICAEW) held the Investor Day in the City of London.

H.E. Erzhan Kazykhanov, Ambassador of Kazakhstan to the UK, ICAEW Executive Director Robert Hodgkinson and H.E. Kairat Kelimbetov, Governor of the Astana International Financial Centre made an address to the members from the international business community and major investment banks and international financial organisations.

Ambassador Kazykhanov pointed out that the Centre would provide Kazakh and regional companies with much needed access to capital and investors from all over the world.

The AIFC will serve as a major platform for implementing a large-scale privatization program of Kazakhstan’s state-owned companies.

Steve Bourne, Head Eurasia, TheCityUK, said that TheCityUK and the European Bank for Reconstruction and Development are working together under the terms of a Memorandum of Understanding with Governor Kelimbetov and the AIFC Authority to help develop the new Astana International Financial Centre. The UK-based financial and related professional services industry support this initiative, which will underline the importance of the investment climate and integration into international business standards. The creation of the new AIFC sends a clear signal that Kazakhstan is open for business and ready to welcome foreign direct investment, within a strong and assured regulatory framework.

ICAEW Executive Director, Mr. Robert Hodgkinson said that with the establishment of AIFC, the region will become more attractive to foreign investors since AIFC is going to apply English law and regulations, including financial reporting requirements, and will comply with international standards.

Mr. Kairat Kelimbetov, Governor of AIFC, shared details about the strategic goals of the financial centre. He noted that creation of AIFC is part of the structural reform to diversify the economy of Kazakhstan. According to Mr. Kelimbetov, the country has created favourable conditions for the effective functioning of a financial centre in accordance with international standards. He also drew the attention of investors to the privatisation of the national companies of “Samruk-Kazyna” through an IPO on AIFC exchange that is scheduled to start in 2018. Governor Kelimbetov also noted that China’s ‘One Belt � One Road’ initiative is closely correlated with Kazakhstan’s long-term strategic development and contributes AIFC to become a regional financial hub.

Participants of Investor Day were interested in the strategic goals of AIFC, the new exchange infrastructure that will be established at AIFC together with the strategic partner, the IPO pipeline, AIFC courts and International Arbitration Centre and many other areas of AIFC’s operation. The Governor and other AIFC representatives gave detailed answers to all the questions of the participants.

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Notes to editors:

The creation of the Astana international financial centre was initiated by President of Kazakhstan Mr. Nursultan Nazarbayev. The centre is to be established on the high-technology premises of the EXPO 2017. The official language of the AIFC will be English.

The objectives of the AIFC are to attract investment into the economy through the establishment of an attractive environment for investment in the financial services, develop local capital markets, ensuring their integration with the international capital markets, and develop markets for insurance and banking services and for Islamic financing in the Republic of Kazakhstan.

Source: The Embasssy of the Republic of Kazakhstan to the United Kingdom of Great Britain and Northern Ireland

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