BAKU, Azerbaijan, July 16. President of
Kazakhstan Kassym-Jomart Tokayev has presented the development
prospects for the newly established city of Alatau, highlighting
its potential to become a leading regional digital financial
hub.
This was announced by the press service of the Kazakh president,
citing Kassym-Jomart Tokayev's remarks at the meeting with
representatives of the Chinese business community in Shanghai.
Speaking to business leaders, the President noted that Alatau is
being designed from the ground up based on "Digital by Default" and
"Smart City" principles. The city's infrastructure is planned to
integrate intelligent transport networks, digital payment
ecosystems, energy-efficient construction, and advanced
telecommunication systems.
To establish Alatau as a premier digital financial center,
Kazakhstan is creating a modern regulatory framework focused on
digital assets, tokenization technologies, blockchain, and the
crypto-industry. This framework will rely on competitive legal
standards and a special tax regime. Furthermore, participants in
the Alatau project will be able to utilize the ecosystem of the
Astana International Financial Centre (AIFC), which operates under
English common law principles and currently serves approximately
6,000 companies from over 90 countries.
The President expressed strong confidence in the long-term
strategic success of the initiative.
"I am confident that in the future, the city of Alatau will
become a new center of talent, technology, and investment in
Eurasia," Tokayev stated.
Recently, Kazakhstan's Prime Minister Olzhas Bektenov has
chaired a meeting of the Alatau City Council to review the
implementation of President Kassym-Jomart Tokayev's instructions on
the development of the new city and the rollout of its special
legal regime, according to the government's press service.
During the meeting, participants discussed the implementation of
the Constitutional Law "On the Special Legal Regime of Alatau City"
and further steps to advance the Alatau City project.
"With the Constitutional Law 'On the Special Legal Regime of
Alatau City' entering into force in line with the provisions of the
new Constitution, the Alatau City project is expected to become one
of the drivers of Kazakhstan's economic development in accordance
with the President's instructions. Therefore, the main task of the
Alatau City Council is to ensure the timely and effective
implementation of the special legal regime," Bektenov said.
