For Press

05/07/2016

The delegation of the AIFC took part in the launching ceremony of the IFFO and FCC in Hong Kong

On 4-5 July, 2016 the delegation of the Astana International Financial Centre took part in the launching ceremony of the «Infrastructure Financing Facilitation Office» (IFFO) and Financial Cooperation Conference (FCC) in Hong Kong, which was jointly organized by Hong Kong Monetary Authority (HKMA) and Boao Forum for Asia (BFA).

As part of the global initiative "One Belt One Road" (Silk Road Economic Belt) it is planned to develop a large-scale financing by providing a platform for the provision by the complex of financial services companies and corporations that invest in infrastructure projects along the Silk Road Economic Belt. In order to support the implementation of this task, the Hong Kong SAR Government adopted a decision to open this office with the HKMA.

The main objectives of IFFO are the formation of the cluster among the stakeholders, financiers, professional consultants and major investors, as well as the creation of a platform for the exchange of experience and information between cluster members on a more efficient and sustainable means of investing in countries covered by the strategy of "One Belt One Road".

Most of the participants of the FCC were representatives of international financial institutions, governments of the Hong Kong SAR and foreign countries. They discussed issues of stimulating the real economy’s growth, monetary easing, money-capital management, financing infrastructure and etc.

The members of the Kazakh delegation briefed the participants of the events with the initiatives of President Nursultan Nazarbayev’s nation plan called 100 concrete steps to implement the 5 institutional reforms, the state program of infrastructure development "Nurly Zhol", the creation of the AIFC; they also participated in sessions and discussions of the Forum.

Reference:

AIFCIn December 2015, the President of the Republic of Kazakhstan, Nursultan Nazarbayev, signed the Constitutional Law “On the Astana International Financial Centre” (AIFC). The aim of the AIFC is to form a leading international centre of financial services. For the first time in a 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 Republic of Kazakhstan economy through the establishment of an attractive environment for investment in financial services, develop local capital markets, ensuring their integration with international capital markets, and develop markets for insurance and banking services and for Islamic financing in the Republic of Kazakhstan.