Hong Kong can contribute to Kazakhstan’s ambitious future-city project by serving as a gateway to global capital, a launchpad into China, and a partner in talent and technology, Chief Executive John Lee Ka-chiu said on Thursday.
Lee’s remarks followed his official three-day visit to Kazakhstan last week, during which a delegation comprising around 70 members from Hong Kong and mainland business representatives secured 61 cooperation agreements and memoranda of understanding.
Speaking at the Alatau City Investment Round Table, Lee noted that Hong Kong and Kazakhstan can develop a “hub-to-hub working relationship,” with Hong Kong as a hub to East Asia, South Asia, and the ASEAN region, and Kazakhstan as a hub to Central Asia.
Centered on the 88,000-hectare AI-powered Alatau City near the former Kazakh capital Almaty, the round table discusses potential investment opportunities and international cooperation for the project.
Lee stated that Hong Kong offers a unique financial and legal ecosystem under the One Country, Two Systems principle to support Kazakhstan’s development.
He said Kazakhstan enterprises can leverage Hong Kong’s deeply liquid capital markets and world-class financial services to easily issue bonds, raise equity, or launch IPOs.
“We are well-positioned to help Kazakhstan fund high-potential infrastructure and innovation projects. We speak the language of global finance,” he said.
He emphasized that Hong Kong provides direct access to mainland China's Greater Bay Area market, counting more than 88 million people.
Alatau City can also fuel its development by tapping into Hong Kong’s talent network, which boasts five top-100 universities, and the world-leading innovation cluster alongside Shenzhen and Guangzhou.
Kazakhstan Deputy Prime Minister Kanat Bozumbayev noted that Alatau aims to become a new center of economic activity, technological development, international businesses, and advanced industries.
He said that a constitutional law establishing a Special Legal Regime for Alatau City was signed in May to create a modern legal and regulatory environment for large-scale investment projects and new economic models. He added that the city is located at the intersection of key transport and trade routes linking China, the Middle East and Europe, creating an opportunity for logistics, industry and trade developments.
“We are confident that Hong Kong’s expertise in financial markets, investment structuring, sector management and the delivery of international projects can make a meaningful contribution to the future development of Alatau,” Bozumbayev said.
Silas Chu Yiu-cheong, Director of Exhibitions and Digital Business of the Hong Kong Trade Development Council, noted that the council has long valued the Central Asian market, having set up an Almaty consultancy office in 2018. “Through our business platforms, including those we co-organize with the Hong Kong SAR government, such as the Belt and Road Summit and InnoEX, we can certainly help promote Alatau City’s vision and attract international investors and technology partners,” he said.
Meanwhile, private equity firm Templewater Limited, a member of Lee’s Central Asia delegation, signed a memorandum of understanding (MoU) today with Kazakhstan-based investment boutique DASCO Capital. The partnership will explore establishing a fund to support the development of Kazakhstan and the Alatau City project.
Projected to house around one million residents by 2040, Alatau City will be divided into four functional zones: a central business and financial district, a knowledge and innovation quarter, an industrial and logistics hub, and a leisure and tourism area.
Investors can benefit from more than 10 years of tax regime stability, tax incentives available for up to 30 years. It has now included 53 projects, with the total investment exceeding US$4.3 billion.
