For Press

15/09/2017

Astana International Financial Centre was presented to the governmental and business structures of Singapore

The delegation of Astana International Financial Centre (AIFC), led by the AIFC Governor Kairat Kelimbetov during the visit to the Republic of Singapore, presented the AIFC to the governmental and business structures of Singapore.

The AIFC Governor Kairat Kelimbetov met with the Coordinating Minister for National Security TEO, Minister for Trade and Industry (Trade), the Chief Executive Officer of the International Commercial Court, the Executive Director of the Singapore Judicial College ('SJC'), the Chairman of the Board of Meinhardt company, the management of the National Welfare Fund "Temasek" and the Fintech company Lending Star, as well as Singapore Airlines and the management of KAPTIC.

K. Kelimbetov, the AIFC Governor informed representatives of the governmental and business structures of Singapore about the key pillars of the AIFC, including the capital market, asset management, private banking, financial technologies, Islamic and green finance.

K. Kelimbetov noted that Astana International Financial Centre has a number of unprecedented privileges for participants, such as exemption from taxes for 50 years, free movement of capital, modern infrastructure, free office lease for 2 years and a special visa regime for foreigners.

"The AIFC should become a financial hub for the countries of Central Asia, the Caucasus, the Eurasian Economic Union, the Middle East, Western China, Mongolia and Europe. In addition, the AIFC will become a regional business hub as part of the "One Belt - One Road" initiative," - K. Kelimbetov said.

Ambassador extraordinary and plenipotentiary of Kazakhstan to Singapore H.E. Dr. Usen Suleimen also attended the presentation of the AIFC.

An extensive program of meetings, compiled and organized jointly with the Embassy of the Republic of Kazakhstan to Singapore, made it possible to present the AIFC to the governmental and business structures of Singapore showed great interest in cooperation with the AIFC. The parties discussed the possibilities for close cooperation in the capital market, asset management and private banking, and application of new investment tools.

K. Kelimbetov also took part in the Singapore Summit, one of the foremost events for business and thought leaders from Asia and the world to come together and discuss opportunities and challenges that could impact regional and global growth, prosperity and stability. Singapore Summit is a platform where ideas on deeper partnerships between the public and private sectors that would take us forward in the future economy are developed and shared.

Reference: 

AIFC. In December 2015 President of the Republic of Kazakhstan Nursultan Nazarbayev signed the Constitutional Statute “On the Astana International Financial Centre” (AIFC). The aim of the AIFC is to establish a leading international centre of financial services. For the first time in the post-Soviet region, a common law framework will be introduced in the AIFC. English shall be the official language of the AIFC.

The objectives of the AIFC are to attract investment into the economy of the Republic of Kazakhstan through the establishment of an attractive environment for investment in financial services, to develop local capital markets, ensuring their integration with the international capital markets, and develop markets for insurance and banking services and for Islamic financing in the Republic of Kazakhstan.  

KAPTICThe Kazakhstan Asia Pacific Chamber is the first regional trade and investment chamber. The goal of KAPTIC is to attract leading companies of the Asia-Pacific region to Kazakhstan.

Temasek. Incorporated in 1974, Temasek is an investment company headquartered in Singapore. Supported by 10 offices internationally, Temasek owns an S$275 billion portfolio as at 31 March 2017, mainly in Singapore and the rest of Asia.

Its portfolio covers a broad spectrum of industries: financial services; telecommunications, media & technology; transportation & industrials; consumer & real estate; life sciences & agribusiness; as well as energy & resources. Its investment activities are guided by four investment themes and the long term trends they represent: 

Meinhardt Group is a multidisciplinary engineering consultancy that annually works on projects worth an estimated US$20 billion. Ranked among the largest independent engineering consulting firms globally by revenue. Meinhardt Group has over 4,000 specialists working in some 42 offices across Australia, Asia, the Middle East, Africa and the United Kingdom.

Meinhardt Group provides start-to-end project consultancy ranging from feasibility study, master planning, detailed design, project management to delivery, which includes among other capabilities, construction supervision, and testing and commissioning.

Singapore Summit. The Singapore Summit is organised by Temasek Foundation Connects with the support of the Singapore Economic Development Board, GIC, the Ministry of Finance, the Ministry of Foreign Affairs, the Ministry of Trade & Industry, the Monetary Authority of Singapore and Temasek.