«Astana Finance Days 2020»: global experts discussed challenges and opportunities in the post-pandemic era
Sessions of the Astana Finance Days international platform include speaker presentations, discussion of global trends and the development of new ideas that will form regional and global financial markets in the future.
The multi-day financial forum provides opportunities to hear the views of world experts, politicians, representatives of business, public service and academia. Traditionally, the forum also brings together representatives of financial institutions, state-owned companies, all current AIFC participants and members of councils of AIFC bodies.
Being the leading center of financial services at the international level, AIFC assists in attracting investments to the country's economy, creates an attractive environment for investment in financial services, develops the securities market of the Republic of Kazakhstan and ensures its integration with international capital markets.
The focus of discussions at Astana Finance Days was the development of markets in a changing world and pandemic impact on the global economy this year. Kazakhstan and foreign experts told about the changes in the economic situation, what kind of consequences and technologies may become relevant in this context. In particular, the participant's attention was paid to such areas as the global economy, financial technology, online dispute resolution, and the impact of COVID-19 on emerging markets. Along with this, the Islamic Finance Conference, the Capital Markets Forum, discussions with leaders on the future of Central Asia, macroeconomic reviews of finance, etc. are being held.
The Director of the project finance group of "KAZAKH INVEST" National Company" Mr. Damir Musin addressed in a panel session dedicated to conditions that necessary for the favorable adaptation of foreign experts in the Kazakhstan business community.
The work carried out at all levels by the Government of Kazakhstan made it possible to achieve recognition and appreciation from international experts: among 190 countries of the world, our country takes 25th place in Doing Business World Bank ranking published in 2019, including 4th place in the protection of contracts and 7th place in protecting the rights of minority investors.
It should be noted that the inflow of foreign direct investment (FDI) over the years of independence in Kazakhstan amounted to about $ 350 billion. At the end of 2019, over $ 24 billion of foreign direct investment was attracted to the country.
The speaker spoke about the measures taken in Kazakhstan to improve the investment and business climate. “The dynamic growth of the economy dictates the need for new investment projects, as well as for the accelerated import of advanced technologies and knowledge.
Today, our country attracts the interest of the foreign business and expert community that is a necessary component of the success and solid integration of Kazakhstan into the global economy and the trade and investment chain of a new reality.
Modern conditions dictate its rules, qualified experts strive to the countries with opportunities for development, and investors to those countries with developed professional environment and adherence to international standards. Before making a decision, a foreign investor often refers to reputable rating agencies. I would like to note the criteria that investor pays close attention including the ease of doing business, paperwork, protection of investor rights and investor support mechanisms, the convenience of labor and migration laws, taxation, infrastructure availability, quickly obtaining permits and investment preferences, and others. Along with this, Kazakhstan has financial support measures, such as low-interest loans and equity financing”, - Mr. Damir Musin said during the session.
The speaker also spoke about the activities of the company: “The company is the only authorized body that provides negotiations in the field of attracting investments on behalf of the Government. Having a network of regional and foreign representatives, we provide a full range of services to support investment projects by the principle of “one window”, from the initial idea to implementation, as well as during the post-investment period”, - emphasized by Mr. Damir Musin.
By session was also covered: the role of the AIFC Expat Center in improving the country's image and supporting foreign experts in Kazakhstan; development of investment activity and business climate; preferential migration regime for AIFC participants.
