AIFC - A New Page Of Independent Kazakhstan, President

ASTANA. KAZINFORM "The Astana International Financial Centre (AIFC) is a new page of independent Kazakhstan," Kazakh Leader Nursultan Nazarbayev said addressing the AIFC opening ceremony. "The launch of the centre is an important step of sustainable and consistent economic development of Kazakhstan. For the first time ever I have proposed the idea to create the AIFC in 2015 as one of the answers to new global challenges," the President noted. As the Head of State said, the country fulfills large-scale structural institutional reforms, aimed at raising the competitive power and Kazakhstan's accession to the world's 30 most developed countries. "For the past 10 years Kazakhstan soared up from 64th ranking place to 36th in the World Bank's Doing Business Ranking. We have been once again convinced in the need of the long-term outlook for efficient and sustainable financing. We have thoroughly studied the world practices of how creating, functioning and developing financial centres the worldwide, such as in Dubai, Singapore and Hong Kong," the President stressed. As the Head of State highlighted, the AIFC encompasses the best practices of all these structures. It provides unprecedented conditions in the formerly Soviet republics.