Kazakhstan to attract $40 billion through AIFC in 10 years

ASTANA (TCA) — At a press conference on January 31, the Astana International Financial Center (AIFC) Governor Kairat Kelimbetov told about the prospects of the financial center and the date of its official presentation to the global investment community, the official website of the Prime Minister of Kazakhstan reported.

“If the official birth of the center took place on January 1 and the beginning of the work of all its structures, the inauguration ceremony will be held on July 5. During his trip to the US and in his video address to the participants of the international economic forum in Davos, the [Kazakh] Head of State invited the members of the international financial and investment community to participate in the inauguration ceremony of the AIFC on 4-5 July, within the framework of the Astana Finance Days conference,” Kelimbetov said.

Up to 20 companies have submitted their applications for registration under the AIFC legislation. It is planned to increase this amount 5 to 10 fold by the end of the year. Before the year’s end, the AIFC should reach its full projected capacity.

Kelimbetov also expressed confidence that within 15-20 years, the AIFC will enter the top 30 global financial centers, and within 10 years — the top 20 Asian financial centers.

Kelimbetov said the AIFC stock exchange plans to achieve self-sufficiency within 3-5 years.

“We plan for 3-5 years not to depend on budget injections too much, but depend on the possibility of attracting investments. We plan that due to the work of the AIFC in the next 3-5 years, from $3 to $5 billion will be attracted,” the AIFC Governor said.

In conclusion, Kelimbetov said that within the next 10 years, $40 billion will be attracted to Kazakhstan through the AIFC.

Sergey Kwan