AIFC helped attract over $11bln of investments to Kazakhstan

AIFC attracted over $11bln of investments to Kazakhstan
Photo credit: Akorda

President Kassym-Jomart Tokayev has received Renat Bekturov, Governor of the Astana International Financial Centre, Kazinform News Agency reports citing the Akorda press service.

The President was informed about the results of the AIFC operation in 2023 and Q1 2024 as well as on its development plans.

As Renat Bekturov said, since its launch, the AIFC has helped attract more than $11 billion of investments to Kazakhstan, including $3.5 billion in 2023 and in Q1 2024, having surpassed the initial target indicator set for 2025.

In 2023, the AIFC registered a record number of new participants - more than 670 companies (in whole, over 2,600 companies from 78 countries). The participants of the AIFC paid 48.7 billion tenge of taxes to the country’s budget in 2023 and in Q1 2024. The AIFC Court and the International Arbitration Centre are functioning successfully, having reviewed 767 commercial cases last year.

President Tokayev set a number of relevant tasks to ensure further development of the AIFC. In particular, he pointed out an important role of the AIFC in attraction of 'green funding' to the region and development of the Middle Corridor. More than 60% of 'green' obligations and loans in the country were issued with the support of the AIFC Green Finance Centre. Joint ventures are operating in the AIFC as part of implementation of the Middle Corridor project.

As Kassym-Jomart Tokayev stressed, government agencies and supervising financial institutions should consolidate their efforts in attraction of investments in Kazakhstan economy, by actively using the AIFC infrastructure.

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