Clothing industry to be priority for financing by holding company of Kyrgyzstan and UAE

Bishkek, Nov. 1, 2022. / Kabar /. Minister of Economy and Commerce Daniyar Amangeldiev told what areas the joint holding company of Kyrgyzstan and the Abu Dhabi Development Fund will finance.

He noted that, first of all, it will consider the expansion of export-oriented production in Kyrgyzstan.

“Promising areas for financing will be energy, agriculture, and the supply of organic products to the UAE. The main activity of the company will be export-oriented products, in particular light industry. Therefore, the garment industry will be considered as a priority,” Amangeldiev said.

The minister also noted that the creation of a joint holding company with the Abu Dhabi Development Fund opens up great prospects for Kyrgyzstan.

During the working visit of President Sadyr Zhaparov to the UAE, an Agreement was signed on the establishment of a joint holding company with an authorized fund of USD 100 million and the possibility of increasing investment capital to USD1 billion 200 million.