The Astana International Financial Centre’s (AIFC) Court and International Arbitration Centre (IAC) opened their premises in Beijing. Chinese investors are now able to conduct the necessary dispute resolution procedures within their own territory in accordance with international standards. This convenience is expected to lead to increased Chinese investments into the country and foster a favorable investment climate. The AIFC Court and IAC have international standard premises in Almaty and Astana, as well as in eight countries in Eurasia, including in Azerbaijan, Armenia, Georgia, the Kyrgyz Republic, Tajikistan, Türkiye, Turkmenistan, and Uzbekistan. Over the past six years, more than 2,600 cases have been completed and enforced to the full satisfaction of the disputing parties. Notably, 20 cases have involved Chinese investors with business in Kazakhstan.
“We have plans for further
expansion, the idea is that we have businesses now, a lot of businesses
increasingly from China, investing into the AIFC and the Republic of
Kazakhstan. And they need a place to resolve their disputes. They are using
AIFC Court and IAC in Astana, but mostly for virtual hearings,” said Christopher
Campbell-Holt, Registrar and Chief Executive of the AIFC Court and IAC.
