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.