FINANCIAL HARBOR OF EURASIA

By Kim Shtern

International Finance Centre "Astana" ( IFCA) will be ready to receive its first clients after the exhibition EXPO-2017. This date declares personally managing MFTSA Kairat Kelimbetov. Despite the fact that Western investors to the idea with some skepticism, and the Russian fear that the "Astana" in danger of becoming the new offshore zone, the potential of Kazakhstan to occupy a niche "financial harbor" Eurasian region there.

 

To create an international financial hub, which was conceived to become the center of "Astana", Kazakhstan did not start yesterday. Launched by a presidential plan "100 concrete steps" clearly defines how to change the state to receive a new impetus to economic and hence political and social development. And just after the creation of an international financial center will play an important role in this. Start for example with the fact that the companies that reach a MFTSA receive unprecedented conditions: the absence of obligations to pay taxes for 50 years (this applies VAT on imported raw materials used for investment projects), really working the Anglo-Saxon model of law, as well as a special visa and foreign exchange regimes.

 

With regard to the operational work of the financial center, according to Kairat Kelimbetov, it is planned that in the "Astana" takes the Kazakh exchange trading, where it will be held IPO of state-owned companies. Immediately, after IFCA assets of the National Fund and the Single pension savings will find their managers. And yet, by design, to exchange financial center plan to place the state Islamic securities.

 

"We understand that this project is a large and complex case. It is important to be able to be interested in our region, to turn IFCA in the center of financial services in the framework of the" Silk Road Economic Belt. "We need to take this niche and begin to gradually develop. We look forward to the participation of international financial institutions, big businessmen who come to Kazakhstan, making sure that you can work I am confident that with the full support of the activities under this project will be interesting, "-. Kazakh President Nazarbayev stressed in a meeting with members of the management Board IFCA.

 

Opportunities for investors of the financial center will be shown at the end of this year. And the members of the Management Board of "Astana" note that if all the prescribed legislation and working conditions finsentre, Kazakhstan will join the small group of countries that were able to integrate into the modern stream of state-building. Especially because in the Eurasian region such sites unavailable. Recall that according to the plan development, financial center will provide services to the market of Kyrgyzstan, Uzbekistan, Tajikistan, Mongolia and in the future and the Caucasus. During a meeting with Russian businessmen in the framework of the St. Petersburg Economic Forum, President Nursultan Nazarbayev said and reducing the level of investment from Russia to Kazakhstan, as well as the invited entrepreneurs strategically important state work at the site IFCA "Astana".

 

According to foreign financial analysts, in fact, the creation of financial center in Kazakhstan - not a bad idea. Now the country's favorable economic time to: the national currency have survived a series of devaluations, and the whole course of macroeconomics moved to inflation targeting, respectively, prices in Kazakhstan now acceptable for investors, and company level. Especially as a special offer for the transfer of large and major state-owned enterprises into private hands.

 

For the local capital market development, the Centre is working to establish, together with the strategic partner from among the leading exchanges in the world of high-tech exchange infrastructure IFCA. For even held talks with the London Stock Exchange and the Metal Exchange, NASDAQ, the Chicago Mercantile Exchange, NASDAQ Dubai, New York Stock Exchange.

 

On the other hand, despite the attraction of foreign players in the area IFCA, analysts believe that should not be left aside, and local players, which in the future may become the successor technology and way of doing business. Moreover, foreign companies may come and go. And the introduction of new business technologies will allow players to develop Kazakh-quality financial services that can be a multiplier effect when the business model applies to the domestic market.

 

 

  

  

29.06.2016

 

 

 

 

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