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Collaborative Strategies for Addressing the Skilled Labor Shortage
- Wednesday, 03 April 2024
On March 20th, a meeting was held involving the head of the Secretariat of the Investment Council at the Cabinet of Ministers of the Kyrgyz Republic, Uluk Kydyrbaev, and the First Deputy Minister of Education and Science of the Kyrgyz Republic, Bekjan Supanaliev. The meeting also saw the participation of Azamat Naimanbaev, the head of the Department of Higher, Secondary Vocational, and Postgraduate Education; Almaz Musabekov, the Senior Economic Policies Expert at the Secretariat; and Miraida Salamova, the Junior Legal Associate at the Secretariat.
The key issue discussed was the acute shortage of qualified personnel in the country, which has a significant impact on the development of various economic sectors. Special attention was paid to the problem of the workforce deficit, which has become a serious obstacle to the efficient operation of many enterprises.
Strategic objectives in addressing this issue have been identified as the education and training of qualified specialists. The discussion led to a consensus on the need for close cooperation between government bodies and enterprises to develop effective approaches to the education and training of personnel, meeting the requirements of the modern labor market.
This collaboration aims to adapt educational programs to the current needs of the economy and create more effective mechanisms for graduates' employment, which, in turn, contributes to strengthening the country's economic potential.
The Secretariat of the Investment Council is forming Consultative Groups
- Wednesday, 03 April 2024
On March 13, 2024, the office of the Secretariat hosted the first introductory meeting on the formation of consultative groups, aimed at strengthening the interaction between government bodies, the business community, and experts. The meeting gathered key participants from business associations and the expert community and was held in a hybrid format, with participants attending both offline and online.
The main focus was on issues related to the tax system, integration of the principles of the "green economy" into sectoral policy, and improvement of the electronic transport invoicing system (ETTN). The difficulties faced by business structures due to current procedures were discussed, and solutions were proposed, including the need to create a unified information system.
The meeting identified a number of suggestions for improving the regulatory environment, including amnesty for businesses transitioning to digital accounting and the need to harmonize national standards with international requirements to accelerate the integration of Kyrgyz business into the global economy.
This meeting served as a platform for exchanging opinions and developing concrete steps towards creating a favorable business environment in the country, emphasizing the importance of joint efforts of all interested parties to achieve sustainable economic growth and development.
We would like to remind you that five consultative groups will be organized:
Improving the investment climate, PPPs, and enhancing the economy's competitiveness Transition to a green economy (climate change mitigation and adaptation) Development of SMEs and women's entrepreneurship Digitalization of the economy and development of creative industries Development of the agricultural sector and increasing export potentialThe Secretariat of the Investment Council expresses its gratitude to all participants for the productive dialogue and valuable ideas. Following the meeting, an action plan will be developed to address the identified issues and implement the proposed initiatives.
Strengthening Cooperation Between the Secretariat of the Investment Council and the Ministry of Economy and Commerce of the Kyrgyz Republic
- Wednesday, 03 April 2024
On March 18th, a meeting was held between the head of the Secretariat of the Investment Council under the Cabinet of Ministers of the Kyrgyz Republic, Uluk Kydyrbaev, and the Minister of Economy and Commerce of the Kyrgyz Republic, Daniyar Amangeldiev. Also in attendance were the Deputy Minister of Economy and Commerce of the Kyrgyz Republic, Usenbekova A.; the Head of the Business Environment Policy Department, Kataganov M.; the Advisor to the Minister, Abdrakhmanov K.; and the Senior Legal Expert of the Secretariat, Bakyt Samakov.
The main focus of the meeting was on strengthening the interaction between the Secretariat of the Investment Council and the Ministry of Economy and Commerce of the Kyrgyz Republic. This collaboration aims to develop consolidated solutions for improving the business environment, strengthening business associations, and enhancing the mechanisms for protecting entrepreneurs' rights, to foster the country's overall economic development.
The Work Plan of the Investment Council for 2024 was discussed, including the discussion and development of recommendations for integrating the principles of the "green economy" into sectoral policy and the development of small and medium-sized businesses through the creation of mechanisms for sustainable communication with government bodies.
Uluk Kydyrbaev informed about the initiative to form Consultative Groups for the prompt resolution of problems in the investment sphere and improvement of the business environment. These groups will become an important tool for uniting the efforts of government structures, the business community, and experts in finding effective solutions.
Additionally, the resumption of the activities of the Regional Investment Councils and the planning of the meeting of the Regional Investment Council in the Osh region in April 2024, as well as the organization of an off-site meeting of the Investment Council in the Batken region in September 2024, were discussed. These activities are intended to further the economic development of the regions and strengthen the interaction between government agencies, the business community, and society.
First B5+1 Forum Kicks Off
- Wednesday, 03 April 2024
Head of the Secretariat Uluk Kydyrbaev is participating in the first International Forum B5+1, which has commenced in Almaty. The event is attended by over 200 experts from Central Asian countries and the USA. The forum will last for two days - March 14-15.
Among the forum participants are government delegates from six countries, representatives of chambers of commerce and business associations, representatives of the EBRD, World Bank, Asian Development Bank, European Commission, business analysts, and independent experts.
The B5+1 platform, initiated at the C5+1 summit by the Presidents of the USA, Kazakhstan, Kyrgyz Republic, Uzbekistan, Tajikistan, and Turkmenistan in September 2023 in New York, represents a unique platform for accelerating and enhancing interactions between the private sector and the governments of Central Asian countries. At the B5+1 platform, business representatives will offer their recommendations for strengthening regional and global economic integration, as well as for more active positioning of Central Asia as a single market for international investments, for consideration by the governments of the region.
Central Asian countries possess tremendous economic potential that can be realized through enhanced regional integration. Small and medium-sized enterprises play a crucial role in stimulating socio-economic development in Central Asia. According to official data from national and international organizations, SMEs' contribution to the GDP of Central Asian countries ranges from 30 to 50 percent.
