On August 8, 2024, the first meeting of the Regional Investment Council under the Plenipotentiary Representative of the President of the Kyrgyz Republic in Issyk-Kul Region was commenced in Sary-Oy village. The main topics of the meeting are: "Regional Investment Councils: Effective Public-Private Dialogue as the Foundation for Sustainable Economic Development" and "Successful PPPs: Addressing Socio-Economic Challenges of Regions through Partnership."

The primary goal of the event is to identify new opportunities and priority sectors for implementing projects through public-private partnership (PPP) mechanisms, as well as to raise awareness among government agencies, entrepreneurs, and the local population of Issyk-Kul Region. With its significant investment potential and tourism appeal, Issyk-Kul Region is an ideal platform for the development of new projects.

The meeting began with a panel session featuring the following participants:

• Arpachiev Daniyar, First Deputy Plenipotentiary Representative of the President of the Kyrgyz Republic in Issyk-Kul Region;
• Eldar Abakirov, Deputy of the Jogorku Kenesh of the Kyrgyz Republic;
• Uluk Kydyrbaev, Head of the Secretariat of the Investment Council under the Cabinet of Ministers of the Kyrgyz Republic;
• Kubanychbek Zhakenaev, Advisor to the Minister of Economy and Commerce;
• Alexandra Soloviova, Resident Representative of UNDP in the Kyrgyz Republic;
• Dmitry Pyatachenko, Head of IFC in Kyrgyzstan;
• Nurbek Anarbekin, Director of the Public-Private Partnership Center.

In his speech, Uluk Kydyrbaev, Head of the Secretariat of the Investment Council, noted: "Our shared task is to create conditions for attracting investments in small and medium-sized businesses across all regions of the country. In this regard, recognizing the importance of public-private dialogue for regional economic development and the goals set by the leadership of the Cabinet of Ministers, the Secretariat of the Investment Council, with partners, has begun work on launching and activating regional investment councils."

Over the course of the two-day event, speakers will share insights on economic development measures and investment opportunities in the region, including ongoing investment projects. The discussions will also cover the development of the local entrepreneurial ecosystem, with a focus on youth and women's entrepreneurship, as well as entrepreneurship among people with disabilities. Experts will discuss export opportunities, and representatives from district state administrations will present the economic potential of each district.

The meeting is organized by the Office of the Plenipotentiary Representative of the President of the Kyrgyz Republic in Issyk-Kul Region, in collaboration with the Public-Private Partnership Center (PPP) and the Secretariat of the Investment Council under the Cabinet of Ministers of the Kyrgyz Republic, with the support of the United Nations Development Programme (UNDP) and the International Finance Corporation (IFC) in the Kyrgyz Republic.

On August 1st, a meeting was held at the office of the Secretariat of the Investment Council with representatives of the JIA business association as part of the preparations for the Bishkek Investment Forum (BIF) 2024, which is scheduled to take place at the end of October this year.

The Bishkek Investment Forum has established itself as a key platform for interaction between small and medium-sized businesses, large companies, investors, and representatives of international organizations. The forum provides unique opportunities for business cooperation and attracting investments.

This year, a specially formed expert commission will select 100 business projects to be included in the BIF 2024 catalog. Out of these, the top 15 projects will be invited to present at the forum.

During the meeting, the formation of a prize fund, which will be created with the support of financial institutions and other sponsors, was discussed.

Last week, Uluk Kydyrbaev, Head of the Secretariat of the Investment Council, attended the mid-year board meeting of the Ministry of Economy and Commerce of the Kyrgyz Republic.

On July 17, the Ministry of Economy and Commerce held a board meeting, which included the participation of the Chairman of the Cabinet of Ministers - Chairman of the Investment Council, Akylbek Japarov, the Minister of Economy and Commerce and Chairman of the Board Daniar Amangeldiev, as well as members of the board including representatives from the Presidential Administration, the Cabinet of Ministers, various ministries, departments, affiliated organizations, and the media.

During the meeting, the results of the socio-economic development of the Kyrgyz Republic for January-June 2024 were reviewed and discussed, and objectives for the remainder of the year were set. Reports were presented by various divisions of the Ministry of Economy and Commerce, including the Department of Tourism, the "Kyrgyz Export" Center for Export Development and Promotion, Financial Supervision, and the Department of Bankruptcy Affairs.

In his speech, the head of the Cabinet of Ministers focused on the economic indicators. Kyrgyzstan's economic growth demonstrates sustainable development, with average GDP growth rates of 7% in 2023, and an acceleration to 8.8% in the first quarter of 2024. According to the National Statistical Committee, the economy grew by 8.1% in the first half of 2024, and by 9.9% excluding the Kumtor mine. The GDP volume exceeded 559 billion soms.

The board members also reviewed the state of executive discipline within the ministry for the reporting period.

"We need to triple our efforts to set the economy on a sustainable growth path and achieve the goals set by the Head of State to reach a GDP of 30 billion USD by 2030 and 200 billion USD by 2050," said the Chairman of the Cabinet of Ministers, Akylbek Japarov.

"In the framework of the 100th anniversary of the establishment of the Kara-Kyrgyz Autonomous Region, 136 new enterprises will be opened in the republic. The Ministry of Economy and Commerce must support these and other enterprises, as well as learn to protect the domestic market by creating favorable conditions for conducting business," added Akylbek Japarov.

Public-Private Partnership is not only about large investments; it also offers long-term investment opportunities for small and medium-sized businesses. Your ideas and initiatives can transform public spaces and improve people's quality of life while providing you with investment opportunities.

Public-Private Partnership (PPP) is an innovative approach to solving social problems, combining the efforts of government and business. Learn more about how PPP can help build new schools, hospitals, and sports facilities in your community.

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