President Kassym-Jomart Tokayev held the Astana International Financial Centre Management Council’s meeting

“Kazakhstan is entering a new stage of its development, focused on the accelerated growth of the market, free and competitive economy. In such conditions, maintaining and strengthening the confidence of foreign investors and trade partners remains our top priority. In this regard, the potential of the AIFC, as a guarantor of investments security and safety, should be maximized,” the President said.

The Head of State stressed that the AIFC faces a global challenge to institutionally strengthen its status as a leading regional financial centre. In this regard, he suggested that the following matters should be addressed in the work ahead.

President Tokayev stressed the importance to plan well for the IPO of national companies. As an example, he noted the role of Samruk-Kazyna and its national companies.

“Ordinary citizens of our country should be able to purchase shares of national companies and receive their dividends from investments. … Participation in an IPO must become accessible to absolutely all residents of Kazakhstan ,” he said.

In his speech, Kassym-Jomart Tokayev touched upon the relevance of attracting long-term foreign investors to sovereign tenge denominated bonds. He expressed the opinion that in such an uncertain environment, the competition for investments and resources is intensifying. Investors are looking for venues where corporate governance principles are highly respected, the rule of law prevails and international jurisdiction is available.

Kassym-Jomart Tokayev stressed the importance of strengthening the role of Kazakhstan in the transformation of global energy markets and world food centres. In particular, he pointed out the urgency of dislocation of the main commodity exchange, compliant to the best international standards and, at the same time, equally far from any risks.