Kazakh President Announces Astana International Financial Centre


At the Astana Economic Forum, President Nazarbayev made some important announcements regarding the current deteriorating international economic and political situation.


Nazarbayev stated that the 2008 crisis, which had brought about the need for the AEF, was not yet over.


Kazakhstan’s government is already implementing some specific programs that will help overcome the existing challenges on a local and global scale. According to the President, the recently adopted Nurly Zhol program will achieve a number of significant results. The President also mentioned five areas of institutional reforms that aim to strengthen the Kazakhstan statehood.


A country program with the OECD that was signed recently is expected to introduce the most advanced tools and standards of public administration.


Nazarbayev announced that the Astana International Financial Centre would be established on the premises of the EXPO 2017. “Our focus will be based on [introducing] the principles of English law, a preferential tax regime and an independent financial court,” – said Nazarbayev. This announcement, particularly that the centre would use English law and be independent in terms of its judiciary, drew praise from other panelists.


Kazakhstan is implementing a number of transport initiatives that will stimulate trade of the country with China and the West. For example, the completed construction of the Zhezkazgan-Beineu railway created a more direct connection for China through Kazakhstan to the Caspian seaports.