Hong Kong — The Tamchy Special Financial Investment Territory (Tamchy SFIT) proposed the NextFinance Initiative at Hong Kong FinTech Week 2026 to advance international cooperation on developing next-generation financial centres. The initiative aims to bring financial centres across Asia together through knowledge exchange and joint projects, helping them become more adaptive, technologically advanced and responsive to the changing needs of the global economy.
The proposal was presented by Ayaz Baetov, Special Representative of the President of the Kyrgyz Republic, Permanent Representative of the Kyrgyz Republic to the United Nations and First Deputy Chairman of the Tamchy SFIT Management Council.
“The future of financial centres depends on their ability to adapt to technological change, embrace digital solutions and create an environment where businesses and investors can thrive,” said Baetov. “But no jurisdiction can meet these demands alone. That is why joining forces is essential for developing a shared vision and practical approaches to addressing the challenges of tomorrow.”
On the sidelines of Hong Kong FinTech Week 2026, Ayaz Baetov met with Joseph Chan, Under Secretary for Financial Services and the Treasury of the Government of the Hong Kong Special Administrative Region.
The two officials discussed opportunities for cooperation between Kyrgyzstan and Hong Kong in the financial sector. These included strengthening ties between financial institutions and exchanging expertise in financial regulation and technology.
Joseph Chan also invited Tamchy SFIT to participate in the Asian Financial Forum, scheduled to take place in Hong Kong on 26–27 January 2027.
“We stand ready to partner with Tamchy SFIT in building a financial environment that is well-equipped to meet the challenges of tomorrow,” said Chan. “Hong Kong is committed to sharing its knowledge and expertise, and to strengthening cooperation with Kyrgyzstan and Tamchy SFIT, in the areas of financial services and digital innovation. I am confident that closer collaboration will bring new opportunities for both sides.”
As part of its efforts to raise international awareness, around 1,500 Tamchy SFIT-branded taxis will operate across the streets of Hong Kong. The campaign aims to raise the financial centre’s profile in one of Asia’s largest business hubs, home to approximately 7.5 million people.
