Baku, Azerbaijan, Feb.24
By Nigar Guliyeva – Trend:
The Astana International Financial Center of Kazakhstan (AIFC) intends to register about 100 companies by the end of the year, Center's manager Kairat Kelimbetov said at a government meeting on Feb.20.
"The main news for today is the registration of the representation of the State Development Bank of China. This is a significant incentive for the flow of Chinese investors. In general, we plan that by the end of the year about 100 companies will be registered at the AIFC, " Kelimbetov said.
He said that the AIFC raises active interest among potential investors, and the center acts as a modern high-tech infrastructure with favorable jurisdiction, which provides all the necessary conditions for attracting both direct and portfolio investments.
"Presently, the AIFC has identified a pool of potential participants, with whom agreements have already been reached on joint interaction at the center. Among these companies are the largest international development institutions, management companies, investment banks, consulting companies, financial associations, Islamic financial institutions and other market players interested in the AIFC's work, " Kelimbetov said.
He further said that the official opening of the center will be held at the Congress Center of EXPO on July 5.
Presently, all the necessary infrastructure has been created and all the bodies of the AIFC defined by the Constitutional Law "On the IFCA" have been formed, according to him.
"This is a management board, an administration, a financial services regulator, a court and an international arbitration center. As part of the development of the capital market, the AIFC Stock Exchange was created. An expat center was created to provide centralized access on the principle of single window to AIFC staff and participants on visa and other issues, "he added.
The aim of the AIFC is to form a leading international centre of financial services. For the first time in post-Soviet region Common law framework is introduced in the AIFC.