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Direct investments should become main resource in development of regions

«Direct investments should become the main resource in the development of the regions,» the Prime Minister Mukhammedkaly Abylgaziev said during the regular meeting of the organizing committee for holding the Year of Development of Regions held within the framework of a two-day working visit of the head of the Cabinet to Issyk-Kul region.

The Prime Minister noted that in the next five years the annual volume of investments should reach $300 million. At the same time, based on the results of 2018, every manager will get an appropriate assessment. It will depend, inter alia, on the volume of the attracted investments.

«Investments will be alienated from the center and sent depending on the characteristics of the regions and their social and economic status. In this regard, the heads of RSK Bank OJSC, Aiyl Bank OJSC and the Kyrgyz-Russian Development Fund were instructed to activate the targeted financing of the regions by the end of the year, increasing the investment indicators,» Mukhammedkaly Abylgaziev stressed.

The head of the Cabinet of Ministers noted that the assistance rendered by the state to the regions should be used in a timely manner. Negotiations are currently under way with representatives of the World Bank to provide Jalal-Abad, Osh and Issyk-Kul regions with financial and donor resources.

«As of today, there is a need to distribute production capacities in the regions taking into account the raw materials available there. We need to work closely with the private sector. The contribution of the small and medium-sized businesses to the country’s GDP is 40 percent. We are obliged to increase this figure to 50 percent by 2023,» stressed Mukhammedkaly Abylgaziev.