{"id":62969,"date":"2024-09-07T09:58:59","date_gmt":"2024-09-07T05:58:59","guid":{"rendered":"https:\/\/blog.dubaicityguide.com\/site\/?p=62969"},"modified":"2024-12-07T10:06:37","modified_gmt":"2024-12-07T06:06:37","slug":"the-future-of-kazakhstans-financial-sector-insights-from-astana-finance-days","status":"publish","type":"post","link":"https:\/\/blog.dubaicityguide.com\/site\/the-future-of-kazakhstans-financial-sector-insights-from-astana-finance-days\/","title":{"rendered":"The Future of Kazakhstan’s Financial Sector: Insights from Astana Finance Days"},"content":{"rendered":"
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At the Astana Finance Days 2024 panel session titled \u201cUnlocking Investment Potential: The Role of Financial Institutions in Kazakhstan and the Region\u201d, prominent leaders in finance and industry gathered to discuss the future of Kazakhstan\u2019s economy and the role of global partnerships in driving growth, Kazinform News Agency correspondent reports.<\/p>\n<\/div>\n

At the Astana Finance Days 2024 panel session titled \u201cUnlocking Investment Potential: The Role of Financial Institutions in Kazakhstan and the Region\u201d, prominent leaders in finance and industry gathered to discuss the future of Kazakhstan\u2019s economy and the role of global partnerships in driving growth, Kazinform News Agency correspondent reports.<\/p>\n

Timur Suleimenov, Governor of the National Bank of Kazakhstan, emphasized the country\u2019s economic achievements.<\/p>\n

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\u201cI think we outpace everyone not only in Central Asia but more or less in the world in terms of GDP and FDI per capita. We have good financial reserves, more than 6 billion dollars. We have the National Bank reserves, more than 42 billion and we have a pension fund. Therefore, in general, the state reserves that we can rely on are about 150 billion dollars.\u201d<\/em><\/strong><\/p>\n<\/div>\n<\/blockquote>\n

He also pointed to the critical role the Astana International Financial Center will play in advancing Kazakhstan\u2019s financial landscape.<\/p>\n

Kanat Sharlapayev, Minister of Industry and Construction of the Republic of Kazakhstan, discussed the rapid growth of the construction sector, which is currently expanding at a rate of 8.7%.<\/p>\n

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\u201cWhat you do if your construction grows at that pace, you outpace the infrastructure growth. And now I think for us it\u2019s time to step back and reconsider the actual foundation of that growth, which is infrastructure. We need to focus on making sectors like water treatment, roads, power generation, and power transmission more investable,\u201d says Sharlapayev.<\/em><\/strong><\/p>\n<\/div>\n<\/blockquote>\n

George Grunebaum, Global Head of Distribution at Ashmore, British investment manager dedicated to the emerging markets, shared his perspective on Kazakhstan\u2019s progress in structural reforms and financial transparency.<\/p>\n

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\u201cKazakhstan has made significant progress over the years, which is one of the reasons we\u2019ve been long-term investors in its public markets,\u201d says Grunebaum.<\/em><\/strong><\/p>\n<\/div>\n<\/blockquote>\n

However, he also pointed out a challenge for emerging markets:<\/p>\n

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\u201cWhenever there are tax cuts or other favorable policies in the U.S., global investors tend to flock back to the U.S., which can be challenging for emerging markets. I find this very frustrating as an emerging markets investor, because there are wonderful opportunities in EM, but people are massively overweight developed markets and underweight EM,\u201d notes Global Head of Distribution at Ashmore.<\/em><\/strong><\/p>\n<\/div>\n<\/blockquote>\n

Dr. Karim El Solh, Co-Founder and CEO of investment firm Gulf Capital<\/a>, spoke about his company\u2019s operations in Kazakhstan and plans for future expansion.<\/p>\n

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\u201cWe have several companies operating here in sectors such as water management, environmental services, and fintech. We\u2019re also exploring opportunities to bring in healthcare, health tech, and fintech companies. This is a large and rapidly growing market. I\u2019m particularly impressed with the region\u2019s economic diversification and momentum,\u201d notes El Solh.<\/em><\/strong><\/p>\n<\/div>\n<\/blockquote>\n

He expressed excitement about the region\u2019s economic momentum and the potential to connect Kazakhstan with other markets, particularly in the Gulf and Southeast Asia.<\/p>\n","protected":false},"excerpt":{"rendered":"

At the Astana Finance Days 2024 panel session titled \u201cUnlocking Investment Potential: The Role of Financial Institutions in Kazakhstan and the Region\u201d, prominent leaders in finance and industry gathered to discuss the future of Kazakhstan\u2019s economy and the role of global partnerships in driving growth, Kazinform News Agency correspondent reports. At the Astana Finance Days […]<\/p>\n","protected":false},"author":1,"featured_media":62971,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-62969","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/62969","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/comments?post=62969"}],"version-history":[{"count":1,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/62969\/revisions"}],"predecessor-version":[{"id":62972,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/62969\/revisions\/62972"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/media\/62971"}],"wp:attachment":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/media?parent=62969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/categories?post=62969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/tags?post=62969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}