This week, events in the country's business environment continued the trend of the previous week and showed potential activity. In particular, oil traders predicted an increase in prices for fuels and lubricants, and the head of government demanded to provide the market with half of its own oil. For the first time in a long time, IBC representatives took part in an offline forum in Tashkent. The tax authorities train the PWD community in electronic reporting, and also demanded that exporters comply with the established rules. Korea has shown interest in Kyrgyzstan's proposal. At the same time, there is a slow but steady price rise in goods and food products in the country.
In general, the week was quite active and tends to further revive.
Growth forecast. The Association of Oil Traders of Kyrgyzstan released this week its forecast for the growth of prices for fuels and lubricants. According to their calculations, the growth will be 9-10%.
According to data, based on an analysis of the current reserves of oil products available in the republic and the current selling prices of Russian refineries, the Association of Oil Traders of Kyrgyzstan prognoses possible increase prices for fuels and lubricants in the republic by March 2021.
At the same time, oil trader companies say that they intend to continue the policy of smoothing price increases and preventing abrupt changes in the fuel market.
According to the available information, during January-February 2021, fuel and lubricants were shipped to the Kyrgyz Republic from the following Russian refineries: Omsk Refinery, Orsk Refinery, Angarsk Refinery and Bashneft.
PM’s demand. This week, the Prime Minister of the Kyrgyz Republic Ulugbek Maripov said that Kyrgyzstan should provide itself with vegetable oil at least by 50%.
On his Facebook page, he stated that food prices have increased over the past 6 months. In particular, the head of government stressed that vegetable oil rose in price by 163%.
“Why this was allowed, whether real steps were really taken to resolve the issue or the prices for manufacturers abroad are getting more expensive - we analyzed all this,” he said.
At the same time, the prime minister told how the government intends to reduce prices. Firstly, negotiations will be held with large producers, these are Russia and Kazakhstan. Secondly, it is planned to organize fairs on a permanent basis like those held in Bishkek and Osh.
Maripov also said that the Ministry of Agriculture of the Kyrgyz Republic was tasked with providing the domestic market with at least 50% of Kyrgyzstan's own oil production. The prime minister said that the country now imports 85% of the oil.
IBC at work. This week, Executive Director of the International Business Council (IBC) Askar Sydykov took part in the 5th annual international congress and exhibition "Hydropower: Central Asia and the Caspian" as a guest of honor. The forum took place in an offline format in Tashkent.
It was announced at the forum that hydropower is a priority sector of the Kyrgyz economy and has great potential. Therefore, the IBC is making efforts to develop the industry and attract investors.
“To attract investments in the hydropower sector of Kyrgyzstan and implement joint projects, it is very important to maintain partnerships with our colleagues in Central Asia and the Caspian region,” Askar Sydykov shared his impressions. He said that at such sites one can discuss topical issues of hydropower in the region, get acquainted with the experience of neighbors and outline plans to optimize cooperation in the industry.
In particular, the head of the IBC discussed with the management of Gazprombank, the bronze sponsor of the congress, the bank's possible participation in projects in Kyrgyzstan, as well as participation in the upcoming Kyrgyz-Russian business forum in Moscow. He also held a number of meetings with other congress participants and discussed prospects for cooperation.
Rising prices. It was announced this week that in January of this year, compared to January 2020, prices for food products and soft drinks in the country as a whole increased by 18.5%.
According to data of the National Statistics Committee of the Kyrgyz Republic, the greatest increase in prices was observed for edible vegetable oils - by 54.6%, potatoes - by 46.3%, eggs - by 35.4%, sugar - by 33.1%, meat - by 27.5%. %, flour - by 16.5%, fresh fruits - by 15.1%, pasta - by 16.6%, soft drinks - by 6.9%, pasteurized milk by 2.5-3.2% fat - by 5.5%, bread - 5.2%, fish - 3.3%. At the same time, prices for millet (by 5.4%), chicken legs (by 1.9%), biscuit cakes (by 0.1%) decreased.
In January of this year, compared to December of the previous year, prices for food products and non-alcoholic beverages in the country as a whole increased by 1.7%.
Korean windmill. This week Ambassador of the Kyrgyz Republic to the Republic of Korea Dinara Kemelova and President of the South Korean company Taechang N.E.T. Co LTD Ji In Ho discussed issues of cooperation in the field of energy and attracting investments, grant and technical assistance in the development of renewable energy sources in Kyrgyzstan. In particular, issues of promoting joint projects for the construction of mini-hydroelectric power plants and wind energy were discussed.
Ambassador Kemelova proposed to establish in the near future joint ventures in the Kyrgyz Republic for the production of hydro and wind generators, as well as to implement promising investment projects.
Rules for exporters. This week, the State Tax Service of the Kyrgyz Republic called on the country's exporters to switch to the mandatory use of electronic invoices for the smooth import of goods to the EAEU (Eurasian Economic Union) member states.
According to the State Tax Service, in the course of a pilot project on monitoring goods and vehicles moving from Kyrgyzstan to Kazakhstan and Russia and in the opposite direction, a number of violations were revealed by certain Kyrgyz exporters.
In particular, many exporters of goods do not issue electronic invoices in violation of the tax legislation of the Kyrgyz Republic, although they are required from July 1, 2020.
Services for PWDs. This week, the State Tax Service of the Kyrgyz Republic conducted a training course "Smart solutions, equal opportunities" for people with disabilities (PWD) in Bishkek.
The event was held within the framework of the project on fiscalization of tax procedures "SMART Salym".
Its goal is to familiarize the PWD community with the opportunities that have opened up for all taxpayers in the course of fiscalization of tax procedures, their advantages, as well as train participants in the use of new tax services online.
In particular, representatives of the State Tax Service spoke about such tax instruments available to PWDs, such as an electronic patent and an insurance policy, a taxpayer's personal account, electronic tax reporting, and more.
Kabar News Agency
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