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Kazakhstan Government, AIFC and WEF sign Letter of Intent

23 January 2020 15:55

NUR-SULTAN. KAZINFORM The Government of Kazakhstan, the Astana International Financial Centre (AIFC) and the World Economic Forum (WEF) within the framework of the WEF 50th Annual Meeting in Davos signed a trilateral letter of intent to launch an Affiliate Centre for the Fourth Industrial Revolution based in the AIFC. The Affiliate Centre intends to join and collaborate on its platform governmental structures, business and industrial partners from Central Asia for the development of the regulatory partnership for innovative technologies. For the first stage it aims to develop projects in the fields including Artificial Intelligence and Machine Learning; the Internet of Things, Robotics and Smart Cities; and Data Policy, the press service of the AIFC informs.

The letter of intent was signed by the Prime Minister of the Republic of Kazakhstan Mr. Askar Mamin, the Governor of the AIFC Dr. Kairat Kelimbetov and the President of the WEF Mr. Børge Brende.

«We see rapid technological changes of products and processes and opening an Affiliate Center in Kazakhstan will enable our innovation ecosystem to influence international policies, principles and regulation in the management of new technologies and will help shape the fourth industrial revolution,» – noted AIFC Governor Dr. Kairat Kelimbetov.

«The speed and scale of change in the Fourth Industrial Revolution means we have to act fast,» said Murat Sonmez, Managing Director and Head of the Centre for the Fourth Industrial Revolution Network. «If businesses, government and larger civil society can come together, Kazakhstan can become an innovation hub in the region.»

The ambition of launching an Affiliate Centre would also strengthen the role of the Republic of Kazakhstan as one of the world leaders committed to innovations and the introduction of new technologies that are important for society. Launched in 2017, the global Centre for the Fourth Industrial Revolution Network has Centres in Japan, China, India, United Arab Emirates, Colombia, Israel, South Africa, Norway, Saudi Arabia, and the United States.

Reference:

AIFC. In December 2015, the First President of the Republic of Kazakhstan, Nursultan Nazarbayev, signed the Constitutional Law on the establishment of the International Financial Centre Astana (AIFC). The purpose of AIFC is the formation of a leading centre of financial services on international level. For the first time in the post-Soviet space, the principles of English law will be introduced, the official language of the financial centre will be English. AIFC’s tasks are to assist in attracting investments to the country’s economy by creating an attractive environment for investing in financial services, developing the securities market of the Republic of Kazakhstan, ensuring its integration with international capital markets. www.aifc.kz


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