German business delegation visits AIFC
On September 16, a business delegation from the Federal Republic of Germany, led by Michael Kellner, Parliamentary State Secretary at the Federal Ministry for Economic Affairs and Climate Action, visited the Astana International Financial Centre (AIFC). Renat Bekturov, Governor of the AIFC, delivered a presentation to representatives from German governmental bodies and companies, highlighting the centre’s potential and the opportunities it offers for fostering cooperation between businesses in Kazakhstan and Germany. The parties also discussed the potential of the AIFC to attract investment and further enhance business relations.
President of Kazakhstan Kassym-Jomart Tokayev underscored the potential of the Astana International Financial Centre (AIFC) to enhance partnerships with German companies at the “Kazakhstan–Germany” business forum. According to the President, the AIFC has become a unique regional hub for investment, innovation, and financial services, offering the same advantages as leading international financial centres such as Frankfurt, London, Dubai, New York and Singapore.
Kassym-Jomart Tokayev, President of Kazakhstan: “The Centre offers unprecedented conditions for attracting investment, including favourable tax, visa and labour policies, individual support for each investor, and an impartial judicial system based on British law. Today, the AIFC is home to nearly 3000 companies from 80 countries, including 20 from Germany. We are hopeful that this number will soon increase.”
Germany is currently one of Kazakhstan’s top 10 trading partners. According to the Bureau of National Statistics, trade turnover between the two countries amounted to $2,2 billion in 2021, $2,76 billion in 2022, and $3,77 billion in 2023. Investment cooperation is also on the rise. Data from the National Bank of Kazakhstan shows that from 2005 to 2022, German investment inflows into Kazakhstan totalled $5,84 billion, with €770,2 million recorded in the past year alone.
Renat Bekturov, Governor of the AIFC: “The AIFC is a unique business hub in the region and the only jurisdiction of its kind in Central Asia. It is based on the principles of English common law, with its own court, arbitration centre and stock exchange. The regulatory environment allows companies to be established in various legal forms, which is why many investors choose to set up their companies in the financial centre when entering Kazakhstan. We are delighted to expand our cooperation with German companies, and in this regard, the AIFC serves as a unique platform for attracting investment not only to Kazakhstan but to the entire Central Asian region.”
Michael Kellner, Parliamentary State Secretary at the Federal Ministry for Economic Affairs and Climate Action: “I am very grateful to the government of Kazakhstan for our close cooperation in recent years, particularly in the energy sector. We have assembled a high-level business delegation, including participants from infrastructure and energy projects, green hydrogen initiatives, as well as the finance and healthcare sectors. There are many opportunities for collaboration.”
It is worth noting that 20 German companies registered within the AIFC are already operating in the fields of software development, trade and warehousing, professional and scientific activities and the management of holding companies.
The German business delegation included representatives from the Federal Ministry for Economic Affairs and Climate Action, the Office of the Federal Chancellor, and companies such as Rhenus SE & Co., Siemens AG, Siemens Energy, Siemens Healthineers, CLAAS, Aurubis AG, Klett Group, Herrenknecht, Gebr. Knauf KG, SVEVIND Energy, KfW, HMS Mining, and others.
Kazakhstani participants in the presentation included representatives from the Ministries of Foreign Affairs, Energy, Science and Higher Education, the Samruk-Kazyna Fund, Baiterek Holding, KazakhInvest, Kazakh Tourism, KIDF, QazTrade, the National Geological Service, Kazakhstan Temir Zholy, and KazMunayGas.
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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Ainur Issabayeva, Press Secretary
Tel: +7 701 777 65 58
