Tamchy SFIT proposes NextFinance initiative to boost Asian financial cooperation

The Tamchy Special Financial Investment Territory (Tamchy SFIT) has introduced the NextFinance initiative at Hong Kong FinTech Week 2026. The proposal aims to foster international cooperation among Asian financial centers through knowledge exchange and joint projects to better adapt to digital transformation and global economic shifts.

Ayaz Baetov, First Deputy Chairman of the Tamchy SFIT Management Council and Special Representative of the President of the Kyrgyz Republic, presented the idea. Baetov emphasized that no single jurisdiction can address technological changes alone, noting that the future of financial centers depends on adopting digital solutions and creating competitive environments for investors.

During the event, Baetov met with Joseph Chan, Under Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region. The officials discussed potential cooperation in financial regulation, technology, and strengthening ties between financial institutions. Chan also invited Tamchy SFIT to participate in the Asian Financial Forum in January 2027.