According to the updated rating of financial centres GFCI (Global Financial Centres Index), Astana maintains its leadership in the Eastern Europe and Central Asia region for the third consecutive edition, spanning one and a half years.
The GFCI rating serves as the global benchmark for evaluating financial centres and is collaboratively developed by the China Development Institute (CDI) in Shenzhen and Z/Yen Partners in London. This rating offers a comprehensive evaluation of financial centres, considering diverse criteria such as the business environment, financial sector, infrastructure, human capital and city reputation.
The 35th edition of the Global Financial Centres Index (GFCI) ranking assessed a total of 133 financial centres, with 121 included in the main index. The assessment of financial centres relies on 145 macroeconomic indicators and over 48 000 assesments provided by over 8 000 professionals from the financial sector and related industries.
Macro indicators are provided by prominent international organisations such as the World Bank, the Economist Intelligence Unit (EIU) – the research and analysis division of the Economist Group, offering forecasts and consultations through comprehensive research and analysis – as well as the Organisation for Economic Co-operation and Development (OECD) and the United Nations (UN).
Despite Astana's decline in the global ranking from 60th to 66th place, its indicators saw a notable improvement of 4 points, reaching a total of 678. Additionally, in the fintech development ranking, the city climbed 2 positions, surpassing both Dublin and Osaka. Experts from various regions worldwide, encompassing North America, Western and Eastern Europe, as well as Central Asia, rated Astana above the average mark.
It is noteworthy that Astana was included in the GFCI rating for the first time in March 2018. The inclusion of the city in this rating was the result of the launch of the Astana International Financial Centre (AIFC), which acts as a financial hub for investors and businesses, providing an ecosystem for the development of companies both in Central Asia and beyond. Astana's leading position in the region in the GFCI rating reflects its reputational advantage among other financial centres.
Reference:
The Astana International Financial Centre (AIFC) is an independent jurisdiction with a favourable legal and regulatory environment and a developed infrastructure for starting and doing business, attracting investment, creating jobs and developing Kazakhstan's economy.www.aifc.kz
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