Documents worth more than $7 billion were signed at the Kyrgyzstan-China business forum

More than 150 representatives from 80 Chinese companies took part in the Kyrgyzstan-China Business Forum held in Bishkek on June 13 as part of the state visit of Chinese President Xi Jinping to Kyrgyzstan.

“After President Xi Jinping proposed the Silk Road Economic Belt concept, Kyrgyz-Chinese relations have reached a new level, and there is active interaction both at the Government level and between the business circles of the two countries. In this regard, the holding of the Kyrgyz-Chinese business forum plays a key role in expanding cooperation between our countries in trade and investment,” First Deputy Prime Minister of Kyrgyzstan Kubatbek Boronov said opening the forum.

Foreign direct investment from China amounted to more than $338 million in 2018. In recent years, the most attractive sectors for Chinese investors have been mining (54.3%), manufacturing (23%), and professional, scientific and technical activities (23%), Boronov said, adding that these figures do not reflect the full potential of bilateral cooperation.

He told the guests about favorable investment conditions in Kyrgyzstan that can positively affect production costs, such as the liberal tax regime, low electricity tariffs, and skilled labor force.

As part of the Kyrgyzstan-China business forum, 24 documents worth more than $7 billion were signed.