AIFC Business Connect Ltd. and RETD Co. Ltd. signed a Agreement on Cooperation
AIFC Business Connect Ltd. is pleased to announce that on 17th August in Seoul an Agreement on Cooperation was signed with RETD Co. Ltd., planning to implement the Urban Maglev transport project in the Republic of Kazakhstan.
Thus, the companies expressed their intention to work closely and consult with each other on issues of mutual interest in order to achieve common goals and implement common initiatives.
In particular, as opportunities arise, the proposed cooperation will include the information and knowledge exchange, providing assistance in the implementation of the Urban Maglev project in the Republic of Kazakhstan, providing support in the creation of a separate legal entity – a joint Kazakh-Korean venture registered in the AIFC, provision of post-registration support, as well as facilitation in attracting investors to finance the project.
Within the framework of signing of the Agreement, RETD Co. Ltd. presented the concept of the project and representatives of AIFC Business Connect Ltd. explained the advantages of the AIFC, its tax policy and jurisdiction.
The parties emphasized that all conditions have been created in the AIFC to attract investments and harness new business opportunities.
AIFC Business Connect Ltd. is a subsidiary of Astana International Financial Centre Authority JSC with the main aim to address the needs of the international investor community and to drive direct investment into Kazakhstan and the wider CIS region. The company also provides services for structuring deals at the AIFC site and the necessary registration and post-registration support for the AIFC participants.
RETD Co. Ltd. (Royal Eco Train Development) is a privately established Korean company to export the magnetic levitation train system developed through a national project in cooperation with KIMM (Korea Institute of Machinery).