Nazarbayev: Astana International Financial Center will be based on EXPO-2017 infrstructure

SAINT PETERSBURG, Russia – Kazakhstan’s President Nursultan Nazarbayev is confident that businessmen will be interested in the international financial center to be created in Astana based on the EXPO-2017 infrastructure.

“It is symbolic that our new capital Astana constructed literally from scratch has become the first among all cities of the CIS to be entrusted to host the EXPO-2017 exhibition on the theme ‘Energy of the Future’ that will take place in 2017,” he noted speaking at the Saint Petersburg International Economic Forum.

“I am convinced that many businessmen will also be interested in the new large-scale project of the Astana International Financial Center to be built based on the EXPO infrastructure,” Kazakhstan’s President emphasized.

Astana will become the Eurasian financial gate and a center of investment and innovation. International participants of the center will get absolutely unique conditions unparalleled in the entire post-Soviet area.

“A simplified visa regime will be introduced for all participants and their employees, and they will be exempt from taxation. Being a business, research and cultural center, Astana will build an international transport system, including a new airport terminal. A special legal regime will be applicable in the center – it will be based on the English law principles. An independent court of international judges that will be established in the center will guarantee transparency, justice and protection of investors’ rights,” Mr. Nazarbayev emphasized.

The high-tech EXPO-2017 infrastructure will enable to implement projects aimed at green economy development. In particular, this implies issue of green bonds, creation of a green insurance institution and a green bank. “By now, we have already negotiated with major businessmen from New York, London, Paris, Beijing, and Qatar. They support the creation of the center,” Kazakhstan’s President stressed.

He is convinced that the international financial center will contribute to sustainable social and economic development of Kazakhstan and the entire region.