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Kyrgyzstan approves concept of jewelry industry development

Concept of development of the jewelry industry for 2019-2022 has been approved in Kyrgyzstan. The corresponding decision was signed by the Prime Minister Mukhammedkaly Abylgaziev.

The document was developed to create favorable conditions for the development of the jewelry industry, create jobs and increase the competitiveness of domestic enterprises for the production of jewelry made of precious metals.

The document determines the goals, objectives and priorities for the development of the industry to meet the needs of the domestic market, increase jewelry exports, create jobs, increase relevant tax revenues to the budget at all levels and create a favorable investment climate.

The concept sets a goal to achieve the annual volume of consumption of gold and silver by domestic enterprises of up to 1 ton by the end of 2022.

«This will help create additional jobs in the amount of 2,500 people employed in the jewelry industry. For an effective implementation of the document, it includes plans for the development of a state program to support jewelry industry enterprises,» the message says.

In addition, it is planned to increase the competitiveness of enterprises of the jewelry industry, to stimulate measures aimed at supporting import substitution and the development of jewelry exports. It is planned that assistance will be rendered in the provision of raw materials, taking into account both external and internal sources of income, the use of which is planned for the period up to 2023.