The Prime Minister of Kazakhstan

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Within 10 years, up to $40 billion to be attracted through AIFC institutions to Kazakhstan — K. Kelimbetov

31 January 2018, 15:31

Today, at the press conference in the Government, the AIFC Governor Kairat Kelimbetov spoke about the prospects of the financial center, as well as the date of official presentation of the AIFC to the global investment community.

"If the official birth of the center took place on January 1 and the beginning of the work of all its structures, then the inauguration ceremony, or 'tusaukeser rasimi' will be held on July 5. During his trip to the USA and in his video address to the participants of the international economic forum in Davos, the Head of State invited the members of the international financial and investment community to participate in the inauguration ceremony of the AIFC on 4-5 July, within the framework of the Astana Finance Days conference,” AIFC Governor Kairat Kelimbetov said.

According to Kairat Kelimbetov, it is very symbolic that the broad opportunities of the Astana financial center will be presented to the world investment and financial elite in the framework of the three-day conference Astana Finance Days.

In general, up to 20 companies submitted their applications for registration under the AIFC legislation. It is planned to increase this amount by 5-10 times by the end of the year. Before the end of the year, the AIFC should reach its full projected capacity: all the institutions will already be involved, tested and certified, and many companies will begin their full-scale activities as part of the registration in the AIFC.

Kairat Kelimbetov also expressed confidence that within 15-20 years, the AIFC will enter the top 30 global financial centers, within 10 years — 20 Asian financial centers. At the same time, the first 3-5 years will be spent on reaching the designed capacity.

Regarding the budget, Kairat Kelimbetov noted that the AIFC stock exchange plans to achieve self-sufficiency within 3-5 years.

"As well as the world's leading financial centers created recently, such as Dubai Abu Dhabi, we plan for 3-5 years not to depend on budget injections too much, but depend on the possibility of attracting investments. We plan that due to the work of the AIFC in the next 3-5 years, from $3 to $5 billion will be attracted. This is our pessimistic assessment," the AIFC Governor said.

In conclusion, Kairat Kelimbetov noted that in general within 10 years, $ 40billion will be attracted to Kazakhstan through the AIFC institutes.