Hong Kong is perfect mediator to display Kazakhstan’s investment potential
Kazakhstan, Astana, Sept. 30 / Trend , A.Maratov /
Kazakhstan and Hong Kong differ considerably,=Hong Kong Financial Secretary John Tsang said at the First Kazakhstan Equity Capital Raising & Investment Forum, which began in Hong Kong on Friday.
The country exceeds Hong Kong's area by 2,500 times. While Kazakhstan is rich in minerals, Hong Kong lacks this base and must purchase food, he said.
Tsang said the forum will emphasize Hong Kong's unique position.
"Hong Kong is an ideal mediator, and will help to reveal Kazakhstan's enormous economic potential," he noted.
Tsang believes the forum in Hong Kong is a meeting of investment opportunities and investors of the two countries.
"Hong Kong is a global financial center with free capital flow. Our stock exchange in market capitalization ranks seventh in the world and first in Asia," Tsang noted.
He said the Hong Kong stock exchange attracted $57 billion in 2010.
The first Kazakh Company Kazakhmys was the largest copper producer. It chose Hong Kong as a platform for attracting capital from Southeast Asia.
"We offer excellent opportunities for resource companies. We are located next to China, the largest energy consumer, and our area is ideal for Kazakh companies to attract capital," Tsang said.
Deputy Head of Kazakhstan's National Welfare Fund "Samruk-Kazyna" Aidan Karibjanov expressed hope that local companies will be able to find a place on the Hong Kong Stock Exchange.
"We hope that the Hong Kong Stock Exchange will become a gateway for our companies and for Asian investors; we will help them in this," he stressed.
The event is aimed at presenting the investment climate and potential of Kazakhstan to the financial community of Hong Kong, among the largest financial and business centers in the world.
Kazakh national companies interested in entering the Hong Kong stock exchange will showcase their capabilities.