Akylbek Japarov: Investments in global energy transition exceeded $1 trillion

09:27, 10 июня 2023, Bishkek - 24.kg news agency , Darya PODOLSKAYA

The Chairman of the Cabinet of Ministers of Kyrgyzstan Akylbek Japarov, as part of his working trip to Sochi, took part in the plenary session of the III Eurasian Congress «Eurasia of the Future: from Challenges to Solutions».

Akylbek Japarov noted that «the third Eurasian Congress has become a traditional platform for the exchange of views, discussion of topical issues and finding practical solutions for the full unlocking of potential of the Eurasian space.»

The Chairman of the Cabinet also said that during the second Eurasian Economic Forum and the meeting of the Supreme Eurasian Economic Council held in May, a number of important areas of cooperation for the region were touched upon and very serious practical steps were outlined for their implementation.

Akylbek Japarov pointed out that «one of the important tasks for economic growth is to increase the production potential.»

«Breakthrough projects are needed that will become a vivid example of our cooperation and the achievement of technological independence,» Akylbek Japarov said.

He also noted the importance of expanding funds to finance projects, introduction of research platforms for implementation of own research and development work in industry, energy, green economy, and agriculture.

The head of the Cabinet added that in 2022 investments in the global energy transition exceeded $1 trillion and for the first time equaled the cost of production of fossil fuels. Renewable energy sources and electric transport became the largest sectors in terms of investments.

He also focused on food security issues.

The Chairman of the Cabinet of Ministers noted that the development of long-term promising directions and vectors of integration cooperation has begun in the Eurasian Economic Union.