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President Sadyr Japarov visits Altyn jewelry factory

President of Kyrgyzstan Sadyr Japarov visited Altyn Kyrgyz jewelry factory. Press service of the head of state reported.

A new enterprise Kyrgyzaltyn Yuvelirprom enterprise was created on its basis within the framework of public-private partnership mechanism. The project participants are Kyrgyzaltyn OJSC and Altyn Kyrgyz jewelry factory LLC.

The head of state got acquainted with the technological process, inspected production facilities, as well as chain knitting, mechanical foundry equipment and a robotic printer for prototyping jewelry models.

The President was told that the new enterprise is aimed at restoring the domestic production of jewelry, modernizing the production base, reconstructing existing jewelry factories and sales network, as well as creating a favorable environment for business development.

In addition, the project is aimed at updating the wholesale and retail network for the sale of domestically produced jewelry both domestically and abroad.

«The possibility of developing the sector of internal processing of mined precious metals is being actively studied. This will contribute to the solution of such important tasks as the growth of the gross national product through the development of an added value chain in processing, replenishment of the budget through taxes and the creation of additional jobs for the citizens of the country. Due to the main taxes, in the case of sale of the extracted volumes of precious metals in the form of jewelry, budget revenues will be significantly increased,» the statement says.

Sadyr Japarov noted the importance of increasing the volume of the country’s gold mining industry and maximizing profits from its activities. He also drew attention to the need to improve the competitiveness of domestic jewelry products.

The head of state set a task for the managers of the new enterprise to increase the volume of processed gold in Kyrgyzstan from January 1, 2022.

The President stressed that an important advantage of processing of precious metals inside the country will be the creation of new jobs and an increase in tax revenues to the budget, which is one of the priority tasks in the economic policy of the state.