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President Jeenbekov instructs to widely use new investment attraction tools

Kyrgyzstan intends to improve its position in the Doing Business and Transparency International Competitiveness rankings. President Sooronbai Jeenbekov said this at the High-Level Development Forum «Acceleration of Reforms for Sustainable Development.»

He noted that the main problem for development of exports was the lack of cheap long-term funds for production.

«Therefore, there was a need to create a special institute for financing export operations. Particular emphasis will be placed on improving the investment climate for export development. In a short time, mechanisms for supporting investment projects through the single window principle will be introduced. Measures will be taken to improve positions in the Doing Business and Transparency International rankings,» said the head of state.

New tools for attracting investment, including public-private partnership mechanisms, will be widely used.

Sooronbai Jeenbekov

«Using the best international practices of public-private partnership, projects in the field of energy, transport, education, healthcare, sports, and tourism industries will be supported,» he stressed.

The President also told about implementation of major national energy projects aimed at increasing the country’s economic potential.

The main goal in the energy sector is to use the large hydropower potential to meet the republic’s electricity demand and export it to other countries.

Sooronbai Jeenbekov

 «Effective implementation of CASA-1000 project will significantly increase the country’s export potential to the countries of Southeast Asia. We are faced with the task of large-scale reconstruction of existing hydropower facilities and construction of new ones, including Kambarata hydroelectric station-1 and the cascade of the Upper Naryn hydroelectric stations, the cascade of Kazarman hydroelectric stations. About $ 4.5 billion is needed to complete these tasks,» he added.