Climate change impacts all aspects of economic activity, necessitating the adoption of environmentally friendly technologies, strengthening resilience to external factors, and adapting business strategies to new realities. It is crucial to note that the development of a green economy and the implementation of ESG principles (environmental, social, and corporate governance) are not just necessities but form the foundation for sustainable growth and the long-term prosperity of the country.

On November 5th, a meeting was held at the office of the Secretariat of the Investment Council under the Cabinet of Ministers of the Kyrgyz Republic, focusing on the adaptation of businesses, investment, and PPP projects to climate change while considering ESG principles.

The meeting was attended by representatives from the Ministry of Economy and Commerce of the Kyrgyz Republic, the PPP Center, the Association of Renewable Energy of the Kyrgyz Republic, the Union of Banks of Kyrgyzstan, the International Business Council, the OSCE in the Kyrgyz Republic, and other stakeholders. Discussions aimed at developing recommendations for the implementation of the Green Economy Development Program in the Kyrgyz Republic for 2024-2028.

As a result of the meeting, a decision was made to establish an advisory group within the platform of the Secretariat of the Investment Council, comprising representatives from both public and private organizations, as well as international development programs. The key task of this group will be to develop constructive recommendations and proposals for adapting business processes to the conditions of a changing climate, as well as to create conditions for the successful implementation of projects based on PPP principles.

The Secretariat of the Investment Council continues to support initiatives aimed at implementing green initiatives, improving the investment climate in the country, and creating conditions for sustainable economic growth.

Relations between the Kyrgyz Republic and Mongolia continue to strengthen, as evidenced by the recent state visit of President Sadyr Japarov to Mongolia, where he met with Mongolian President Ukhnaagiin Khurelsukh. This visit marked a new chapter in bilateral relations and emphasized both countries' readiness for further cooperation.

On October 31, 2024, a meeting was held at the office of the Secretariat of the Investment Council under the Cabinet of Ministers of the Kyrgyz Republic, aimed at expanding economic ties and cooperation in the technology sector. The meeting was attended by the staff of the Secretariat, led by Director Uluk Kydyrbaev, as well as the Ambassador Extraordinary and Plenipotentiary of Mongolia to the Kyrgyz Republic, Gankhuyag Sodnom, and representatives of Argun LLC—Dawadorj S. and Batzorig N.

Argun, a leading developer of solutions in augmented reality (AR) and mixed reality (MR) in Mongolia, expressed its interest in establishing a presence in the Kyrgyz Republic. During the meeting, the key areas of the company's activities were discussed, including the development of educational solutions using AR technology, content creation for preschool and school institutions, and innovative products aimed at improving the quality of education. With branches in the US, Singapore, China, and Europe, Argun aims to develop local initiatives and leverage its expertise to support educational and technological projects in the Kyrgyz Republic.

Uluk Kydyrbaev highlighted that technology development and the introduction of innovations in the education sector are key components of the country's sustainable economic growth. During the meeting, it was agreed that the Secretariat would facilitate meetings for Argun with relevant government bodies and local associations working in the fields of technology and education. This cooperation will help strengthen partnership ties and accelerate the adoption of innovative solutions in the Kyrgyz Republic.

The Secretariat of the Investment Council continues to assist in improving the investment climate and supporting international companies interested in collaboration and developing promising projects in the Kyrgyz Republic.

On October 23, 2024, the Regional Green Economy Forum "Green Development Path of Central Asia 2024" started in Bishkek, with the main goal of strengthening cooperation among Central Asian countries in key areas of the green economy, such as green energy, sustainable tourism, green construction, and waste management. The forum also aims to identify promising regional initiatives for their joint promotion and implementation.

The first panel session was moderetad by Uluk Kydyrbaev, Head of the Secretariat of the Investment Council and was dedicated to critical issues of green economic development and sustainable growth. In his opening remarks, Uluk Kydyrbaev emphasized: "The transition to a green economy is an opportunity for Central Asia to take a leading position in ecological development, maintaining a balance between economic growth and responsible resource use." He highlighted the importance of strengthening partnerships between the public and private sectors for implementing successful projects that contribute to economic growth and social stability.

During the panel session, participants discussed a wide range of topics related to the implementation of the green economy in Central Asia:

• The European Union's support for the green development initiative, particularly the allocation of over 1 billion euros for projects in Central Asia aimed at transforming energy infrastructure. These projects facilitate regional integration in the field of renewable energy.
• Dr. Renaud Vuigner from Switzerland presented how investments in renewable energy can strengthen the economic resilience of regions, using a project in the Issyk-Kul region as an example.
• The Eurasian Development Bank presented its strategy to support green financing and energy efficiency. Mr. Konrad Albrecht emphasized the importance of synchronizing sustainable development goals with regional initiatives, highlighting projects funded by the bank.
• Political approaches to balancing economic growth and resource sustainability, presented by Mr. Takayoshi Kato of OECD, are especially relevant to Central Asia, where water, energy, and land resources are closely interconnected.
• Challenges faced by the private sector in transitioning to green practices were highlighted by Mr. Zhanabil Davletbayev of the International Business Council, who pointed out that high costs for adopting green technologies are the main obstacle for small and medium enterprises.

The panel discussion demonstrated the importance of learning from international experience and stressed the need for deeper interaction between public and private partners. Participants noted the risks associated with project implementation and the importance of innovation and advanced technology to mitigate these risks. They also spoke about the importance of incentivizing the private sector through legislative measures and support programs, which would help to implement the green agenda more effectively.

The session's conclusion emphasized that international dialogue and experience exchange play a vital role in achieving success in the implementation of green economy projects. The Secretariat of the Investment Council continues to actively promote public-private partnerships and the green economy in the country, supporting efforts aimed at sustainable development and attracting new investments in key projects.