“The main issue is access to finance. Entrepreneurs cannot get funding. Interest rates, as in all regions, are high, and targeted government programs do not fully achieve their goals,” said IBC Executive Director Askar Sydykov.
In addition to interest rates, local entrepreneurs are experiencing difficulties with collateral. They offered to pledge not only real estate, but also movable property. Moreover, real estate is valued quite low, they complained.
Entrepreneurs in this region are mainly engaged in cattle breeding, the issue of wool and leather processing is acute, and this requires processing capacities. The participants of the meeting also spoke about the problems with the veterinary inspection. The veterinary laboratory was moved to the Kochkor region, which created additional difficulties for local cattle breeders.
All comments and suggestions will be taken into account when developing recommendations for providing assistance to entrepreneurs and creating conditions for the economic development of regions, which will be submitted to the Presidential Administration and the Cabinet of Ministers of the Kyrgyz Republic.
The expert group will continue its trip to the regions of the country.
On June 23, President Sadyr Japarov met with the country's business community. Following the meeting, orders were given to ministries and departments to improve the investment climate and business environment of the country.
For a detailed study of problematic issues in the regions, entrepreneurs will meet with representatives of the Presidential Administration and IBC in 10 remote regions of the country.
They discuss issues such as financing for the creation and development of a business; sales of products; transformation of land; movement of goods; energy issues; disbursement of funds from local budgets; powers of local authorities; and others. During conversations, the main problems of local business communities and ways of solving them are identified.