BAKU, Azerbaijan, March 13. More than $11 billion of investments have already been attracted to Kazakhstan through the jurisdiction of the Astana International Financial Center (AIFC), Acting CEO, Chief Client Officer of AIFC Temirlan Mukhanbetzhanov told Trend during the second session of the Kazakh-Azerbaijani Business Council in Baku.
"Over 40 percent of them were sourced through the AIX stock exchange in the form of equity, a percentage that consistently increases annually. The registered member companies have also seen substantial growth, surpassing 2,500 compared to over 600 at the end of the previous year. Each company contributes funds toward business development and job creation, collectively contributing to the country's economic growth," the CEO said.
He mentioned that Azerbaijani companies are among those that have opted for the jurisdiction of AIFC.
"About five companies with Azerbaijani capital participation, spanning various sectors such as trade and mining, are registered in AIFC," he said.
Discussing the merger of Kazakhstan's two stock exchanges, AIX and KASE, he highlighted the ongoing development of a unified approach aimed at harnessing the combined potential of both exchanges.
"Discussions are ongoing. By the end of March this year, the first configuration on unification is to be presented," he added.
To note, the first meeting of the Kazakh-Azerbaijani Business Council was held in August 2022 in Astana.