As part of the Investment Forum “Investment Vector: Government and Business,” a practical panel session titled “Investments as a Driver of Growth: Mechanisms, Challenges, and Solutions” was held. The session was moderated by Uluk Asankaryevich Kydyrbaev, Head of the Secretariat of the Business Development and Investments Council under the Cabinet of Ministers of the Kyrgyz Republic.

The discussion brought together representatives of regional authorities, sectoral business associations, development institutions, and the private investment sector. The focus was placed on concrete instruments that enable the practical implementation of investment projects, ranging from regional infrastructure development and investor facilitation to the role of organized business, development institutions, and venture capital.

Regional Focus: Osh Region as a Growth Hub

Iliyaz Azizbekovich Tashbaev, First Deputy Plenipotentiary Representative of the President of the Kyrgyz Republic in the Osh Region, presented an approach to regional development that positions the Osh Region as a key “growth hub” for unlocking the investment potential of southern regions. His presentation emphasized priority sectors such as agriculture and agro-processing, tourism, logistics, and green energy. Particular attention was given to the “one-stop-shop” principle and the strengthening of dialogue with investors through the Regional Investment Council as a practical mechanism for reducing administrative barriers and supporting projects at the regional level.

Investment Climate in Practice: Speed and Predictability

Rustam Baltabaev, Executive Director of the Association for the Development of the Agro-Industrial Complex of the Kyrgyz Republic, focused on the practical essence of the investment climate. He noted that investors respond not to slogans but to real business conditions, where speed in obtaining permits and connections, access to finance and human capital, and regulatory predictability play a decisive role. He also emphasized the importance of business associations as an “infrastructure of trust” between the state and investors and highlighted the need for systematic dialogue based on clear rules, timelines, and accountability.

Private Investments: Structuring Projects for Investors

Cholponbek Zhumashukurov, Co-Founder and Managing Partner of Highland Capital, shared a practical perspective from the investment fund’s experience, covering the logic of investors, the stages of project preparation, and the sectors most attractive for capital allocation. He noted that the fund has been operating since 2018, has invested in several companies, and has gone through a long capital-raising cycle. Among the most promising sectors he highlighted tourism, energy, healthcare, agro-processing, and technology.

Venture Capital and the Growth Economy: Building a Project Pipeline

Daniel Abdyldaev, Investment Director at Accelerate Prosperity, outlined the development of the venture and startup ecosystem, from incubation and angel investment to venture capital. He stressed the importance of building a sustainable pipeline of high-quality projects for the country’s long-term growth. His presentation included key performance indicators of Accelerate Prosperity’s activities and portfolio in the Kyrgyz Republic, including the number of supported entrepreneurs, portfolio companies, and volumes of attracted investment and financing.

IFC: A Development Institution and Its Practical Contribution

Dmitry Pyatachenko, Head of the International Finance Corporation (IFC) Office in the Kyrgyz Republic, highlighted IFC’s role as a development institution providing both investment and advisory support to the country. He noted that IFC offers advisory assistance to the Kyrgyz side in preparing and structuring public–private partnership (PPP) projects in the energy sector, including renewable energy initiatives that are also considered as pilot projects. In parallel, IFC is actively involved in advancing the national PPP agenda and supporting the preparation of major infrastructure projects.

He also emphasized IFC’s contribution to the healthcare sector through the promotion of the first PPP projects, including initiatives related to the provision of hemodialysis services, which serve as practical examples of implementing PPP mechanisms in the social sector. In the financial sector, IFC is implementing investment projects aimed at developing the capital market, including investments in the issuance of sustainable bonds in the Kyrgyz Republic through the Kyrgyz Investment and Credit Bank (KICB), demonstrating the potential of long-term financing instruments and the sustainable (“green”) agenda.

Conclusion of the Discussion

The panel session reaffirmed the Forum’s core message: investments are most effectively launched where there is a clear regional strategy, functioning investor support mechanisms, an organized dialogue between the state and business, and financial instruments capable of supporting projects at all stages—from concept development to scaling.

The Secretariat of the Business Development and Investments Council under the Cabinet of Ministers of the Kyrgyz Republic will continue its work to strengthen public–private dialogue, reduce administrative barriers, enhance regulatory predictability, and promote a project-based approach in investment policy.