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State Investment Policy as the Foundation of Economic Development

Monday, 16 December 2024 13:51

Today, December 16, a seminar titled “Implementing State Investment Policy through Improving the Investment Climate in the Kyrgyz Republic and Stimulating Investment Attraction” began in Bishkek. The seminar is designed for the heads of ministries, administrative agencies, plenipotentiary representatives of the President of the Kyrgyz Republic in the regions, local state administrations, and city mayors. The event is organized by the National Investment Agency under the President of the Kyrgyz Republic 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).

The seminar aims to deepen the knowledge and skills of leaders in the field of state investment policy, improve the investment climate, and facilitate practical engagement with investors. Participants will explore legal aspects, mechanisms for protecting investor rights, tools for public-private partnerships (PPP), and discuss successful cases of regional investment attraction.

Uluk Kydyrbaev, Head of the Secretariat of the Investment Council, emphasized the importance of the seminar’s topics:
“The theme of our seminar, focused on the implementation of state investment policy and improving the investment climate, is extremely relevant to the sustainable economic growth of our country. Today, we face important tasks of attracting investments, creating a favorable business environment, and strengthening trust between the state and business.”

Zhalyn Zheenaliev, Deputy Director of the National Investment Agency, highlighted the critical role of investments in the national economy:
“Investments have always been and remain a key factor in the development of the national economy. In the first 10 months of 2024, the country's GDP reached $12.6 billion, with a growth rate of 9.6%. These results demonstrate significant progress in improving the business climate and creating conditions for attracting direct foreign investments.”

Alexandra Solovyova, UNDP Resident Representative in the Kyrgyz Republic, stressed the need for a comprehensive approach:
“We are confident that sharing experiences will help us all discover new approaches and find effective ways to further improve the investment climate. The introduction of innovative mechanisms such as the ‘Single Window’ and the use of the ‘Investments’ automated information system, along with the practice of successful interactions between state agencies and private investors, including through Regional Investment Councils, is critical.”

The seminar program includes plenary speeches, expert sessions, demonstrations of innovative tools, and a presentation of the Sustainable Development Goals Investor Map, developed with UNDP support. This tool aims to identify key investment opportunities that contribute to the realization of national priorities.

Expected outcomes: Participants will acquire practical skills and knowledge that will enable them to effectively promote sustainable economic development and improve the investment climate in their regions.