President Tokayev Meets with AIFC Governor to Discuss Economic Achievements

President Tokayev Meets with AIFC Governor to Discuss Economic Achievements

Astana, The Gulf Observer: In a recent development, President Kassym-Jomart Tokayev held a significant meeting with Renat Bekturov, Governor of the Astana International Financial Centre (AIFC), as reported by the Akorda press service.

During the meeting, President Tokayev was briefed on the notable accomplishments of the AIFC throughout 2023 and the first quarter of 2024, alongside insights into the center’s forthcoming developmental strategies.

Renat Bekturov highlighted that since its inception, the AIFC has been instrumental in attracting over $11 billion in investments to Kazakhstan, with an impressive $3.5 billion influx recorded in both 2023 and the initial quarter of 2024, surpassing the anticipated targets set for 2025.

In a remarkable feat for 2023, the AIFC welcomed a record-breaking influx of new participants, with over 670 companies joining its ranks, totaling to over 2,600 companies from 78 different countries. Furthermore, these participants contributed significantly to the country’s economy, paying 48.7 billion tenge in taxes during 2023 and the first quarter of 2024. Additionally, the AIFC Court and the International Arbitration Centre have showcased commendable efficacy, handling 767 commercial cases in the previous year.

President Tokayev underscored the pivotal role of the AIFC in fostering sustainable economic growth, emphasizing the importance of attracting ‘green funding’ to the region and advancing the Middle Corridor initiative. Notably, the AIFC Green Finance Centre has been instrumental in facilitating over 60% of ‘green’ obligations and loans issued within the country. Moreover, collaborative ventures within the AIFC are actively contributing to the realization of the Middle Corridor project.

President Tokayev articulated a series of directives aimed at bolstering the AIFC’s developmental trajectory. In particular, he emphasized the imperative for governmental agencies and financial regulatory bodies to synergize their efforts in attracting investments to Kazakhstan’s economy, leveraging the robust infrastructure provided by the AIFC.

The meeting between President Tokayev and Governor Renat Bekturov signifies a concerted commitment towards advancing Kazakhstan’s economic landscape and solidifying the AIFC’s pivotal role in the nation’s financial ecosystem.