The Tamchy Special Financial Investment Territory (SFIT) proposed launching an international initiative called NextFinance to promote cooperation among financial centers in Asia. The initiative envisages sharing expertise, developing new approaches to financial jurisdiction development and implementing joint projects, the organization’s press service reported.
The proposal was presented on November 4 at Hong Kong FinTech Week 2026, one of the world’s largest financial technology forums. It was put forward by Ayaz Baetov, Special Representative of the President of Kyrgyzstan, the country’s Permanent Representative to the United Nations and First Deputy Chairman of the Tamchy SFIT Management Council.
Bayetov said financial centers needed to adapt to technological change, introduce digital solutions and create favorable conditions for business development and investment.
He stressed that achieving these goals required stronger cooperation between different jurisdictions and the development of joint solutions.
“The future of financial centers depends on their ability to adapt to technological change, introduce digital solutions and create favorable conditions for business development and investment. Addressing these challenges requires close cooperation between jurisdictions,” he said.
On the sidelines of the forum, Bayetov also met with Joseph Chan, Under Secretary for Financial Services and the Treasury of the Hong Kong government. They discussed prospects for cooperation between Kyrgyzstan and Hong Kong in the financial sector, including stronger ties between financial institutions, the exchange of regulatory expertise and the development of financial technologies.
Chan invited representatives of Tamchy SFIT to attend the Asian Financial Forum, scheduled to take place in Hong Kong on January 26–27, 2027. He said Hong Kong was ready to share its expertise and strengthen cooperation with Kyrgyzstan in financial services and digital innovation.
In addition, around 1,500 taxis bearing Tamchy SFIT branding will run on the streets of Hong Kong for a month, including during Hong Kong FinTech Week. The campaign is intended to raise the profile of Kyrgyzstan’s financial jurisdiction in one of Asia’s largest business centers.
Tamchy SFIT is an international financial jurisdiction located on the shore of Issyk-Kul Lake. It operates under the principles of English common law. Residents are offered special legal and tax regimes, including a zero tax rate for 49 years.
The jurisdiction also has an independent financial regulatory system, an International Dispute Resolution Center and a digital platform for registering and supporting residents.
The territory covers approximately 6,000 hectares and is within walking distance of Issyk-Kul International Airport.
In October 2026, Tamchy ranked first in Asia and second worldwide in the «Rising Stars» category of the Global Free Zones of the Year ranking compiled by fDi Intelligence, part of the Financial Times Group.
