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President of Kazakhstan launched first auction on AIFC Exchange

Speaking to the participants of the event, the Head of State stressed the symbolism of the first auction on the AIFC Exchange on the eve of the 25th anniversary of the national currency of Kazakhstan - tenge.

Nursultan Nazarbayev noted that the introduction of the national currency made it possible to form our own financial system and ensure the economic sovereignty of the state.

“Since then, the economy of Kazakhstan has grown significantly, and the standard of living of the people has risen. Large-scale reforms are carried out in the country. The launch of the AIFC is an important step in the consistent sustainable development of our country”, the Head of State said.

The President of Kazakhstan also informed those present that today Kazatomprom national company, which accounts for about 20% of the world market of uranium, for the first time carried out its IPO.

“In the future, we plan to put up for sale the assets of Kazakhtelecom, Air Astana, KazMunaiGaz and other national companies. AIFC should be a catalyst for attracting foreign capital and bring the stock market to a new level of development. Here the best world experience is actively used, leading partners and experts are attracted, and unprecedented conditions have been created for its participants”, Nursultan Nazarbayev said.

The Head of State indicated that, in the future, the AIFC should become the main financial hub of the region and be one of the leading financial centers in Asia.

“The financial center has already given Astana a new status of “financial capital”. In the ranking of global financial centers, the city’s positions in the last year alone rose by 27 points. Astana will continue to develop as a “smart city” in which the most comfortable conditions are created for the lives of our citizens and guests of the capital”, the President of Kazakhstan stated.

In conclusion, Nursultan Nazarbayev noted that all the initiatives of the state are aimed at improving the welfare of the population and increasing the global competitiveness of the country.

Photo by Bauyrzhan Zhuasbayev

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