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Russia is one of the three largest investors in the Kyrgyz economy KXan 36 Daily News

Date: June 22, 2024 Time: 15:27:18

One of the most significant reasons for Russia’s great contribution to the development of Kyrgyzstan remains the allied nature of relations. “We have no political disagreements, and nothing prevents the further expansion of economic cooperation between our countries,” emphasizes the Minister of Economy and Trade of the Kyrgyz Republic, Daniyar Amangeldiev. “At the same time, in Kyrgyzstan we managed to create the most favorable conditions Regime prosecutor at the EAEU. The association in the field of infrastructure projects is expanding, energy, in the construction business. The commercial turnover between the two countries and the volume of investments are growing at a high rate. Mutual trade, in turn, has completely switched to the Som-Ruble currency pair.”

According to him, Russian funds go to the real sector of the Kyrgyz economy. Therefore, a significant part of the direct investment (FDI) of the Russian Federation fell into the manufacturing industry. In general, the share of FDI from Russia in its total structure increased six (!) times, from 2.5 to 15 percent.

One of the priority areas of cooperation with the investment circles of the Russian Federation at the Ministry of Economy of the Kyrgyz Republic is the tourism sector. “Together with Russia and Austria, we are already implementing a project to create a ski resort in the Chui region,” says Daniyar Amangeldiev. “We are building a year-round resort near Bishkek.”

In addition to investments, the Russian side supports the economy of the republic by providing loans on favorable terms for the Kyrgyz Republic. “So, for the smooth running of enterprises in the Kyrgyz Republic, lines of credit from the RKDF (Russian-Kyrgyz Development Fund) have been created,” lists Daniyar Amangeldiyev. “Gazprombank has recently opened another line of credit, for $500 million. The loans are offered to companies from the republic, as well as from Russia that work in Kyrgyzstan.”


Adylbek Kasymaliev, First Deputy Prime Minister of the Kyrgyz Republic:

– The bilateral economic relations formed, the conditions created for the expansion of cooperation in a spirit of mutual trust, the measures and mechanisms adopted or formed within the framework of the single Eurasian economic space allow us to maintain growth. We have all the necessary prerequisites for stable, open and dynamic development. Kyrgyzstan is ready to work in new formats, look for effective ways and tools to deepen comprehensive cooperation with Russia in all areas. By complementing each other, exchanging experiences and knowledge, we will be able to fully realize our economic potential.

We consider Russia a sister country and at the same time it remains our main economic partner. Last year we increased trade by 40 percent, and this year we will continue to increase trade. It makes it possible to guarantee both energy and food security in the region. In connection with all this, we will not cut ties with Russia and will support the sanctions imposed against it. This can lead to serious financial problems. While the volume of investments from European countries and the United States is such that no introduction of secondary sanctions will seriously affect the situation in the republic.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.

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