President Tokayev Highlights AIFC's Vital Role in Regional Development
President Kassym-Jomart Tokayev highlighted the pivotal role of the Astana International Financial Centre (AIFC) in attracting green funding for the region and advancing the development of the Trans-Caspian International Transport Route (TITR). This was reported by the Akorda press service following a meeting with AIFC Governor Renat Bekturov on May 2.
Tokayev highlighted that over 60% of green bonds and loans in the country have been facilitated with the support of the AIFC Green Finance Center.
During the meeting, Bekturov provided insights into the achievements of 2023 and the January-March period, as well as outlined development plans for the AIFC.
Bekturov noted that since its inception, the financial center has attracted investments exceeding $11 billion, surpassing the initial target set for 2025, with $3.5 billion attracted in 2023 and the January-March period of this year.
He emphasized that in 2023, the AIFC registered a record number of new participants, totaling over 670 companies, and has seen the participation of more than 2,600 companies from 78 countries overall. Additionally, the center’s participants contributed 48.7 billion tenge (US$109.7 million) in taxes to the country’s budget during 2023 and the first three months of this year. The AIFC Court and the International Arbitration Center, which handled 767 commercial cases in 2023, continue to effectively resolve disputes.
Tokayev outlined several key objectives for the financial center's development, underscoring the importance of collaborative efforts among government organizations and supervisory financial institutions to leverage the AIFC infrastructure for attracting investments into Kazakhstan’s economy through transaction completions.(Source:astanatimes)
