In recent years, Kyrgyzstan’s economic growth has broken all records and demonstrated exceptionally sustainable development. Chairman of the Cabinet of Ministers of Kyrgyzstan Akylbek Japarov said at the International Energy Investment Forum in Vienna.
The head of the Cabinet made a country presentation «Economic prospects and investment climate in the Kyrgyz Republic».
«The average GDP amounted to 7 percent and accelerated to 8.8 percent in the first quarter of 2024,» Akylbek Japarov said.
He added that Moody’s rating agency recently upgraded the outlook on Kyrgyzstan’s credit rating from negative to stable and affirmed the local and foreign currency long-term issuer ratings at B3.
Akylbek Japarov paid special attention to the energy sector of the republic, which, according to him, «is experiencing a period of revival».
«Tariffs are being revised and better conditions are being provided in the form of benefits and preferences for investors. More than 50 renewable energy projects have been launched across the country. The state has built and recently launched Bala-Saruu hydropower plant, which will provide electricity to Talas region,» he said.
«I am convinced that through joint efforts the largest hydropower station in the region will be built and new horizons for green energy will open in Central Asia,» he emphasized.
Akylbek Japarov noted that new methods of agriculture and water resources management, modern technologies are being introduced in Kyrgyzstan, and international class laboratories are being built.
He also told about the republic’s tourism potential.
«We are starting the construction of Kyrgyz Courchevel. The French company S3V, which was one of the first operators of the world famous resort, is implementing Three Peaks ski cluster in Kyrgyzstan. It is planned to lay about 200 kilometers of ski trails. The resort will operate all year round and will be able to receive up to 850,000 tourists annually. This project will be the largest in Central Asia. In addition, we agreed and are launching a resort near Bishkek with a 20-kilometer funicular, which will operate in both winter and summer. In winter, this is a unique opportunity to ski literally 20 minutes drive from the capital — Bishkek. All technical structures will be built by the Austrian company Doppelmayr,» Akylbek Japarov told.
