Astana Financial Center In Talks With US Oil, Tech Giants On Joint Business Ventures

Fakhir Rizvi Published March 15, 2019 | 12:32 PM

Governor of Astana International Financial Center Kairat Kelimbetov told Sputnik that he had discussed joint business opportunities at the center with oil companies Chevron and Exxon, as well as tech giants Google and Microsoft on the sidelines of the CERAWeek by IHS Markit energy conference, which is currently underway in the US city of Houston

HOUSTON (UrduPoint News / Sputnik - 15th March, 2019) Governor of Astana International Financial Center Kairat Kelimbetov told Sputnik that he had discussed joint business opportunities at the center with oil companies Chevron and Exxon, as well as tech giants Google and microsoft on the sidelines of the CERAWeek by IHS Markit energy conference, which is currently underway in the US city of Houston.

"During CERAweek this year we have met with such companies as Chevron Corporation, Exxon Mobil, Schulmberger, and also with tech giants Microsoft, Google Cloud ... We were discussing opportunities of doing business at International Financial Center's platform," Kelimbetov said.

He noted that the international companies were highly interested in business opportunities at the center due to favorable conditions for participants, such as tax exemptions from corporate and individual income taxes until 2066.

"By creating a platform with such attractive and understandable for international business conditions, being an 'entry point' for global companies in the region, we will attract investments not only in the economy of Kazakhstan, but also in other countries of the Eurasian region," Kelimbetov said.

He pointed out that the goal was not only to create favorable conditions for the foreign investors in the region and for business development, but also to form a digital "reserve for the future". With that in mind, the center pays close attention to developing new technologies, such as eJustice, a joint project with the company CrimsonLogic, an online version of the center's dispute resolution program.

Creation of the Astana International Financial Center was announced by Kazakhstan's President Nursultan Nazarbayev in 2015. The center was opened last year.