Chairman of the Cabinet of Ministers of Kyrgyzstan Akylbek Japarov, as part of a working trip to the city of Yekaterinburg, on the sidelines of the International Industrial Exhibition Innomprom-2024, took part in the main strategic session on the topic: «Technology Partnership: Focus of International Industry.»
He noted that during the period of the Soviet Union, the industry of Kyrgyzstan was one of the leading in the field of machine tool and mechanical engineering, but after its collapse, the production capacity was lost.
According to the head of the Cabinet of Ministers, today Kyrgyzstan has confidently embarked on the path of rapid industrial development, restoring the industrial sector and rehabilitating industrial enterprises. He cited as an example Mailuu-Suu Electric Bulb Plant, revived with the help of budget subsidies and raised funds. He also mentioned the creation of Kyrgyz Industry state company, which is launching idle enterprises.
«New production facilities and infrastructure for a wide range of products are being commissioned. A new tax legislation system has been created and is successfully operating, reducing the tax burden for entrepreneurs. Projects of national or investment significance receive fiscal benefits and government support. Thanks to these measures, the influx of foreign direct investment into Kyrgyzstan is increasing from year to year. Every investor can take advantage of all the opportunities existing in the Kyrgyz Republic and actively invest,» Akylbek Japarov said.
At the same time, the official outlined the importance of introducing information, innovative and green technologies, which, according to Akylbek Japarov, help reduce the negative impact on the environment and enhance competitiveness.
He then focused on the main directions in the work of the Cabinet of Ministers on the industrial path, which today include the localization of production, creation of reliable supply chains and logistics, construction of alternative settlement institutions in the interstate financial system, the development of digitalization and use of artificial intelligence, as well as sustainability and environmental issues.
He also added that the introduction of automated control systems at factories made it possible to increase their productivity by 20 percent and reduce the time for performing routine operations.
«In recent years, the economic growth of Kyrgyzstan has demonstrated sustainable development. The average GDP growth rate was about 7 percent, and in the first quarter of this year reached 8.8 percent. For the first time in recent years, the Cabinet of Ministers began to use instruments of direct financing of large and systemically important production projects,» Akylbek Japarov noted.
Akylbek Japarov also touched upon the development of the mining industry, which «plays a key role in the economic growth and sustainable development of the country, offering ample opportunities for investment and development.»
«More than 100 raw materials are concentrated in our country, which allows us to open enterprises with a high level of localization of their products. For example, the predicted reserves of titanomagnetite at one deposit are about 20 million tons, and the reserves of rare earth metals are about 60,000 tons at Kuttesai-2 deposit,» he said.
