Astana International Financial Centre, Atameken to bring Kazakhstan business to int’l level

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ASTANA (TCA) — The Chairman of the Atameken National Chamber of Entrepreneurs of Kazakhstan, Timur Kulibayev, and Astana International Financial Centre (AIFC) Governor Kairat Kelimbetov on September 5 signed a Cooperation Agreement between Atameken and AIFC aimed at uniting efforts to bring Kazakhstan’s business to the level of international standards, Atameken reported.

As it was noted at the signing of the document, the establishment of the AIFC is an important stage of structural reforms aimed at economic diversification, economic growth and assistance in the formation of the modern financial system in Kazakhstan. On the basis of AIFC, it is planned to create an independent court based on the principles of English law and standards of the world’s leading financial centers. The presence of an independent court will facilitate the creation of an attractive legal environment for investors, providing tools for effective protection of the rights and interests of the participants of the AIFC.

Kulibayev said that this is extremely important for Atameken, which acts to protect business interests. “In general, the cooperation between the National Councils and the AIFC is focused on improving the quality of the investment climate in the country,” he said.

AIFC Governor Kelimbetov said that the initiative on privatization of the largest national companies announced by the Head of State is a unique chance for the development of the domestic stock market. It will have a positive effect on domestic companies and create for them additional investment attractiveness.

Kelimbetov stressed that Atameken is the key partner for AIFC on all issues related to the development of entrepreneurship. The parties stated that they intend to undertake further joint efforts to develop the country’s financial industry.

Sergey Kwan

TCA