Establishment of IFCA to promote investments inflow in Kazakhstan
BRUSSELS. KAZINFORM - Establishment of the International Financial Center Astana (IFCA) will promote the inflow of direct foreign investments in Kazakhstan, analyst of Finnish Kauppalehti periodical Jarno Hartikainen said commenting on the article of the President of Kazakhstan "National Plan - Road to Kazakhstan dream" in terms of establishment of the International Financial Center in Astana.
"Foreign companies need a well-functioning financial center that would be able to create conditions for attraction of investments in the country. Therefore, establishment of the financial center in Astana is good news for Kazakhstan," J. Hartikainen stressed.
However, he added that expansion of the financial sector of Kazakhstan can increase the scale of the risks in the economy of the country in case the players in the market are not controlled the way they should be. It requires development of the optimal mechanism of regulation when all possible negative influences are minimized.
Nevertheless, the expert admits that the main conditions for investors' arrival in Kazakhstan are stability and predictability of the economic policy. In this regard, the position Kazakhstan occupies in the Doing Business Index of the World Bank allows to make optimistic forecasts about this initiative.
"Foreign investors primarily pay attention to stability and predictability, and Kazakhstan has done a great job in this sphere over recent years, and the Doing Business Index is a good indicator of it. In this regard, Kazakhstan has overcome many countries of the regions," the expert summed up.