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.
