September 29 this year Germany hosted the Berlin Global Dialogue, an international forum bringing together business and political leaders to find solutions in the transitional global economy and develop new partnerships.
The session on the “Geopolitics of Critical Raw Materials” focused on fostering cooperation among countries to address the increasing demand for essential raw materials. The significance of this panel session arises from the increasing worldwide need for critical resources, essential for energy transition, national security, mobility electrification and the emergence of new technologies.
The session had distinguished participants, including Franziska Brantner (Parliamentary State Secretary at the Federal Ministry for Economic Affairs and Climate Action), Ola Källenius ( CEO of Mercedes-Benz), David Marsh (Chair and Co-Founder of the Official Monetary and Financial Institutions Forum) and Amund Vik (Senior Advisor at Eurasia Group), Renat Bekturov (the Governor of the Astana International Financial Centre). Caitlin Dean, Deputy Head of Corporate Advisory and Consulting at Eurasia Group, moderated the session.
Countries are actively implementing new policies for critical sources of raw materials. In this regard, Kazakhstan can be a reliable source of critical minerals to meet the growing global demand, foreign investors can help with technologies, exploration, and processing.
Earlier, during a meeting with German businessmen, the President of the Republic of Kazakhstan Kassym-Jomart Tokayev outlined several promising areas for cooperation. He emphasised Kazakhstan's readiness to be a reliable partner in supplying natural resources and critical raw materials needed by the industries in Germany and Europe. President Tokayev mentioned: “It is expected that by 2040, global demand for critical materials and rare earth metals will increase fourfold. According to the World Bank, Kazakhstan has more than 5,000 undiscovered deposits valued at over $46 trillion. This is why I proposed to Chancellor Olaf Scholz the creation of a consortium for the joint realisation of raw materials projects.” The head of state also highlighted that Kazakhstan provides ample opportunities for foreign investors to attract investment through the platform of the Astana International Financial Centre.
In the framework of the panel session the AIFC Governor Renat Bekturov emphasized the significance of the initiatives outlined in the President's address to attract investment. He also discussed a range of measures and incentives aimed at fostering investor interest in geological exploration. Furthermore, the Governor highlighted measures of the digitalisation of the processes in the mining industry, improving the accessibility of data on prospective mineral deposits. Additionally, he mentioned the provision of investor services within the AIFC based on the 'single window' principle.
In addition to issues related to exploration and production of the most important raw materials, the Governor discussed transportation and logistics issues and spoke about Kazakhstan's work on diversifying its transport connectivity.
Specifically, AIFC offers a comprehensive and regulated platform for structuring transactions and attracting investments. It also provides access to a wide range of financial instruments, including green finance, traditional banking services and capital markets. With a robust regulatory framework aligned with international standards, AIFC provides a secure and transparent environment for investors. The role of AIFC in attracting foreign investors was recently acknowledged in an OECD report. AIFC is actively engaged in the implementation of the Middle Corridor project.
Furthermore, the forum explored the relevance of global technological advancement and financing, the scaling of innovations for transitioning to a low-carbon economy as well as sustainable development programs and the adoption of ESG principles.
Reference:
Astana International Financial Centre (AIFC) is an independent jurisdiction with a favourable legal and regulatory environment and developed infrastructure for starting and doing business, attracting investments, creating jobs, and developing Kazakhstan's economy. www.aifc.kz
Скопировать ссылку