Germany Interested to Increase Investments in Kazakhstan via AIFC

Germany Interested to Increase Investments in Kazakhstan via AIFC

Germany has expressed interest to increase its investments and business activities in Kazakhstan via the Astana International Financial Centre (AIFC) platform.

Regional director of East Committee of German Economy, Eduard Kinsbruner said the German investors are interested with AIFC due to its usage of English law and other preferences given to foreign investors such as special tax rebate.

“I think the AIFC is a very interesting investment platform. Although the platform is recently launched, it has great potential to attract German businesses,” he said.

A business meeting was held in Berlin recently whereby representatives of AIFC had given a presentation on the investment opportunities in Kazakhstan to German investors and businessmen.

The German participants have noted Kazakhstan’s role in connecting Central Asia, Europe and China as part of the New Silk Road.

Kazakh Deputy Foreign Minister, Yermek Kosherbayev said Germany is traditionally Kazakhstan’s major investment partner.

“The financiers are interested in developing relations with the international financial center in Astana,” he said, adding that the role of Kazakh Foreign Ministry is to attract investments into Kazakhstan and coordinate export activities.

Over the last four years, Kazakh and German companies have signed more than 20 contracts worth over two billion Euros. More than 90% of German investments in Kazakhstan are in the non-primary sector.

According to official data, the volume of trade between the two countries last year exceeded five billion Euros, which is 21% higher than in 2017.

Currently, Kazakhstan has over 900 joint-investment enterprises with Germany.