On April 23, 2024, Uluk Kydyrbaev, the head of the Secretariat of the Investment Council, held a meeting with Ms. Bolormaa Luvsandorj, Founder of KITE Mongolia. KITE Mongolia is a business accelerator that specializes in developing sustainable startups and exploring opportunities for further cooperation and the development of joint investment projects.

KITE Mongolia offers comprehensive support to startups at various stages of their growth, including angel investment, pre-financing, mentorship, and access to a network of industry professionals. Ms. Luvsandorj emphasized that the company aims to support entrepreneurs, particularly young people who wish to make positive changes in society through startups.

The Secretariat of the Investment Council expressed gratitude for KITE Mongolia's efforts in fostering innovation and sustainability within the Mongolian startup ecosystem and noted the importance of such initiatives in stimulating economic growth, creating new jobs, and addressing relevant social and environmental issues.

Both parties confirmed that KITE Mongolia and the Investment Council will continue to explore joint projects aimed at unlocking the potential of IT entrepreneurship in Kyrgyzstan.

On April 17, 2024, staff members of the Secretariat of the Investment Council—Senior Economic Policies and PPP Expert Aidin Sharsheev and Senior Legal Expert  Bakytbek Samakov—participated in the third session of the Council for Business Development and Investments under the Plenipotentiary Representative of the President of the Kyrgyz Republic in the Batken region (Regional Investment Council). The meeting of the Regional Investment Council also included the First Deputy Minister of Economy and Commerce of the Kyrgyz Republic, Ch. S. Seyitov; the President of the Chamber of Commerce and Industry of the Kyrgyz Republic, T. A. Sariev; the Head of the UNDP's Governance and Peacebuilding Department in Kyrgyzstan, E. K. Urazbaeva; and representatives from state authorities and local self-governance bodies.

Chaired by the Plenipotentiary Representative of the President in the Batken region, A. K. Alimbaev, the session addressed the implementation of agro-clusters, finding buyers, developing fisheries, and state support for startups. The discussions resulted in clarifications and directives being issued for the implementation of the discussed topics.

During the meeting, a decision was made to include an expert from the Secretariat of the Investment Council under the Cabinet of Ministers of the Kyrgyz Republic in the Batken Regional Investment Council.

On April 15th in Bishkek, the Secretariat team of the Investment Council under the Cabinet of Ministers of the Kyrgyz Republic held an official meeting with a delegation from the Chinese automotive company 'Chengdu-Hunmen,' which specializes in car supplies. According to the company, its annual trading volume exceeds 50 billion yuan, and it delivers over 300,000 vehicles annually. The company controls 35% of the market in Western China and provides services for the maintenance and support of electric vehicles. Collaborating with 75 countries and regions in the field of car exports, the company has sold goods totaling over 980 million US dollars throughout its operation. The company is also engaged in industrial technologies, investments, and other activities, employing over 1,000 staff members.

During the meeting, representatives of the Chinese company thoroughly briefed the attendees on their current operations, including international projects, and expressed interest in expanding their business in the Kyrgyz Republic. Proposals for collaboration in the development of infrastructure for electric vehicles and the possibilities of establishing joint ventures were discussed.

The Secretariat of the Investment Council expressed support for this initiative and confirmed its readiness to provide comprehensive assistance in establishing and developing Kyrgyz-Chinese business relations. Both parties emphasized the importance of this direction for the economic growth and modernization of the country's production sector and agreed on plans for subsequent meetings to specify projects and discuss technical and economic aspects of the forthcoming cooperation.

PRESS RELEASE

Meeting of the Regional Investment Council in Osh

Osh, Kyrgyz Republic

On April 12, 2024, the inaugural session of the Regional Investment Council under the Plenipotentiary Representative of the President of the Kyrgyz Republic in Osh region was held in the city of Osh. The event brought together representatives from both the public and private sectors to discuss the economic progress of the region.

The main goal of the event was to foster public-private dialogue and explore ways to develop the regional economy. Special attention was given to updates in tax policy and the development of public-private partnerships, which are key to creating favorable conditions for business and attracting investments.

The meeting was greeted by several notable speakers: Uluk Kydyrbaev, Head of the Secretariat of the Investment Council of the Kyrgyz Republic; Ainura Usenbekova, Deputy Minister of Economy and Commerce of the Kyrgyz Republic; Monica Rizal, Deputy Permanent Representative of UNDP in the Kyrgyz Republic; Nurbek Anarbekin, Director of the PPP Center; and Nurlan Musuraliev, Acting Business Ombudsman. The session was moderated by Ilyaz Tashbaev, Deputy Plenipotentiary Representative of the President of the Kyrgyz Republic in the Osh region.

In his address, Ilyaz Tashbaev highlighted the pivotal role of investments: “The role of investments in the economy is of particular importance. A stable economy and transparent business operations are the foundations for the bright future of our country. Today, I can proudly say that the Regional Investment Council under the Authorized Representative of the President of the KR in the Osh region has commenced its operations.”

Uluk Kydyrbaev emphasized the importance of the regional council, " Today’s event promotes the Governmental plans and priorities to ensure sustainable and inclusive dialogue between the government, entrepreneurs and local authorities to jointly determine the regional agenda for development of the business and investments, involve businesses in regulatory policy, co-develop recommendations and engage them in the implementation of the regional development policy".

Monica Rizal noted that the UNDP representation in Kyrgyzstan would continue to support the strengthening of the Regional (Investment) Councils: "On behalf of UNDP, I am pleased to affirm our support for the fortification of the Regional Investment Council in Osh region. We are committed to supporting the establishment of similar councils in other regions of the country."

During the event, participants were presented with presentations on the activities of the Investment Council under the Cabinet of Ministers of the Kyrgyz Republic and the Regional Investment Councils; representatives of the PPP Center discussed the procedure and mechanism for implementing PPP projects, reforms of the PPP Center, and the Draft Law “On Further Improvement of Legislation in the Sphere of Public-Private Partnership.” Participants also learned about the role of investments in youth entrepreneurship, exemplified by Osh State University, with special attention given to new opportunities for electronic interaction with the State Tax Service (reporting, tax payments, etc.) and specifics of taxation for agricultural producers.

Additionally, the PPP Center awarded letters of appreciation to representatives of government bodies and private organizations for their contributions to the development of public-private partnership in the Osh region.

Towards the end of the session, participants had the opportunity to ask questions directly to government officials and receive firsthand answers.

The organizers of the event included:

The Office of the Plenipotentiary Representative of the President of the Kyrgyz Republic in Osh region, the Secretariat of the Investment Council under the Cabinet of Ministers of the Kyrgyz Republic, the Public-Private Partnership Center under the National Agency for Investment under the President of the Kyrgyz Republic, the State Tax Service under the Ministry of Finance of the Kyrgyz Republic, supported by UNDP in Kyrgyzstan.