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IBC Head urges development partners to pay attention to industry in Kyrgyzstan

November 21, 2019

Askar Sydykov, IBC Executive Director, spoke at the High-Level Development Forum “Accelerating Reforms for Sustainable Development” held on November 19 at Ala-Archa State Residence.

“The development partners work mostly in such popular areas as tourism, agriculture, digitalization, but often forget about the industry, although this is a budget-forming sector of economy,” said the IBC head, urging the development partners to pay more attention to industrial development in the Kyrgyz Republic. If this sector develops, then it will give an impetus to the development of the country's economy.

“Foreign investors do not require any privileges. They just want the law to be executed for all on equal terms. Moreover, foreign investors primarily pay attention to where local investors invest,” Sydykov added.

He also expressed the opinion of the business community that when collecting taxes, the government agencies should not only think about fulfilling their plans, but also about whether investors will remain in the country.

President of the Kyrgyz Republic Sooronbai Jeenbekov, development partners, about 25 international organizations and ten countries took part in the donor conference. Issues such as the development of regions, investment climate, development of human capital, integrated water resources management, climate and emergency situations, and others were discussed.

In his speech, President Sooronbai Jeenbekov entrusted to widely use new instruments to attract investment in the country.

At the conference, the results of joint work with donors were discussed and negotiations were held to raise additional funds for regional development projects and others.

Over the years of independence, development partners allocated Kyrgyzstan about $10.5 billion for the development of such sectors of the economy as transport, energy, water supply, irrigation, health, education, emergency situations, ecology, and environment.