Bishkek, Jan.13, 2025. /Kabar/. Chairman of the Cabinet of Ministers - Head of the Presidential Administration of Kyrgyzstan Adylbek Kasymaliev attended the Asian Financial Forum, which is held these days in the Hong Kong Special Administrative Region of the People's Republic of China.
Kasymaliev made a report in which he outlined the priority areas of Kyrgyzstan's development and presented attractive opportunities for foreign investment, the press service of the Kyrgyz Cabinet reported.
The head of the Cabinet of Ministers began his speech with impressive economic growth rates of Kyrgyzstan for 2021-2023.
“Over three years, the growth rate of the Kyrgyz economy has averaged 9%. The data for 2024 will not be lower either. GDP has doubled, the state budget has tripled. The country is entering a phase of accelerated development, and we want to make the same “snow leopard” leap forward as our Asian friends - “tigers” of the first and second wave did earlier,” he said.
Adylbek Kasymaliev's speech was focused on key areas of development: modernization of the financial sector, digitalization of public administration, investment in education and science, implementation of strategic projects and development of partnership with the private sector.
In terms of modernization of the financial sector, the head of the Kyrgyz Cabinet expressed interest in cooperation with the Hong Kong Stock Exchange, which, according to him, is an effective platform for attracting investment and entry of Kyrgyz companies into global markets.
He also noted the development of innovative financial instruments such as “green bonds” in cooperation with international partners.
Digitalization is actively used to improve the quality of public administration and increase convenience for citizens.
In education and science, special attention is paid to the development of STEM-education, investment in scientific research and cooperation with the world's leading companies, such as Google, to train highly qualified specialists.
Adylbek Kasymaliev also drew attention to investment opportunities in Kyrgyzstan.
“The favorable geographical location on the historic Silk Road provides access to major markets in Asia, Europe and the Middle East. The construction of the China-Kyrgyzstan-Uzbekistan railroad will significantly improve the region's logistics infrastructure. Significant reserves of gold, rare earth metals and hydropower potential open wide prospects for investment in mining and energy,” he said, citing the Kambar-Ata-1 hydropower project with a capacity of 1.86 GW as an example.
He also noted the great potential of the agricultural sector, where Kyrgyzstan's environmentally friendly production opens up opportunities for joint ventures for processing and exporting organic products.
In his speech, the head of the Cabinet of Ministers emphasized the favorable investment climate in the country.
“The Kyrgyz Republic has introduced an “open door policy” for investors, including tax benefits, simplified procedures for business registration and legislative protection of foreign investments. Appropriate amendments have been made to the legislation of the country, which provides for the responsibility of public servants for obstructing investment activities,” - said the chairman of the Cabinet.
At the end of the speech, Adylbek Kasymaliev emphasized that “Hong Kong, as a leading financial center of the world, inspires us with its commitment to excellence, professionalism and innovative approach to solving the challenges of the time”.
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