The Government of Kazakhstan creates a coordination council and an investment hub on the basis of the AIFC

On April 22, 2019,under the leadership of the Prime Minister of Kazakhstan A. Mamin, a government session on problems of investment attraction took place.

In the course of the meeting, new approaches to improvement of investing activities in Kazakhstan were reviewed.

The Prime Minister of the Republic of Kazakhstan A. Mamin pointed out the special importance of foreign direct investment for the increase of the country's economy. For coordination and effective interaction with investors, as well as for solving the current problems, it was decided that the Prime Minister of the Republic of Kazakhstan A. Mamin would take responsibilities of theInvestment Ombudsman. Also, under the direction of the Head of the Government, the Coordination Council for attracting foreign investment was to be created.

“The First President of the Republic of Kazakhstan, the Leader of the Nation Nursultan Nazarbayev gave us a task to ensurea stable growth rateof the economy, which will require us to increase fixed investmentina medium term up to 30% from GDP. Foreign direct investment needs to become the main driver", the Head of the Government said.

Meanwhile, according to the results of the meeting, the Astana International Financial Centrewas chosen as a single center for coordination of work on investment attraction and promotion of the investment image of the Republic of Kazakhstan (Regional Investment Hub), for providing services to investors under the single-window principle and forming a single pool of investment projects.

Besides, it was decided to transfer the state shares of “National Company “KAZAKH INVEST" JSC under the fiduciary management of theAIFC.

“At the moment, the necessary infrastructureis already createdon the AIFC platform, i.e. the AIFC Court, the International Arbitration Centre, AIFC Exchange and AIFC Expat Centre. The main responsibilities of the AIFC are to assist in attracting investment in the country's economy and create an attractive atmosphere for investment in the sphere of financial services. The AIFC has already earned a reputation of a convenient platform in the global business community so we are going to continue working in this direction", the Governor of the AIFC K. Kelimbetov stated.

Background:

The AIFC.The Astana International Financial Centre (AIFC) was created on the initiative of The First President of the Republic of Kazakhstan Nursultan Nazarbayev. The constitutional decree on launching the AIFC was signed on December 7, 2015. The goal of the AIFC is to establish a leading financial service center at an international level.The goals of the AIFC are to assist in attracting investment in the country's economy, create an attractive atmosphere for investment in the sphere of financial services, develop the stock market of the Republic of Kazakhstan and ensure its integration with international capital markets.

www.aifc.kz

Created at : 22.04.2019, 17:05, Updated at : 22.04.2019, 17:05