The business week passed under the noticeable influence of the official visit of President of Kyrgyzstan Sadyr Zhaparov to Turkey, who was warmly and widely received in Ankara. There were also meetings and negotiations of representatives of state bodies of the two countries, who discussed the development and expansion of bilateral ties between Kyrgyzstan and Turkey. The sides announced their desire to achieve a trade volume of USD 1 billion, and the business community expects an increase in flights between the countries.
It became known this week that the Toktogul hydroelectric power station began to fill up, although it has not yet reached last year's level. At the same time, it was announced that large investments will be attracted to the country's energy sector. China has already begun to invest a large investment in the Industrial Park in Bishkek.
At the same time, the country's GDP declined slightly, although excluding Kumtor it grew slightly. Foreign trade is also considered to have grown, but this is in comparison with last year, when quarantine slowed down trade relations in almost all countries.
In general, the week can become a benchmark for the business environment, as it showed progress in the economy.
Deterioration of equipment. In the autumn-winter period, electricity consumption doubles, Deputy Minister of Energy of the Kyrgyz Republic Nurdin Kozhogulov said.
He said that the entire energy reserve is consumed in the winter.
Kozhogulov noted that the total volume of generation in Kyrgyzstan is 15 billion 350 million kW / h, and the amount of debt obligations is more than KGS 129 billion.
“The peak of payments will be in 2025, and the amount can reach about KGS 15 billion. At the same time, the equipment is worn out by 70%. This indicator is menacing. This will lead the energy sector to default,” he said.
At the same time, the deputy minister of energy of the Kyrgyz Republic drew attention to the fact that the cost of electricity in Kyrgyzstan is the lowest among the EAEU countries.
Energy investments. By 2035, it is planned to introduce 4 thousand 533 generating capacities in Kyrgyzstan, head of the National Energy Holding of the Kyrgyz Republic Bakyt Sydykov told this week.
He said that to increase generating capacities it is planned to attract USD 6 billion 58 million on the principle of public-private partnership without burden on the state budget.
He clarified that in 2022 it is planned to commission the second unit of the Kambar-Ata HPP 2, as well as to develop small hydropower with an increase in capacity of 9 MW. At the same time, by 2023, it is planned to increase capacity due to small hydropower by 46 MW and launch the Kulanak HPP with an increase in capacity by 100 MW. In 2024 and 2025, it is planned to increase the power generation capacity by 41 MW and 62 MW, respectively.
Sale of gold. The National Bank of Kyrgyzstan sold 30 kg of gold in measured bars in 2020. The head of the bank Tolkunbek Abdygulov told this week.
About gasoline. Since the beginning of 2021, prices for AI-92 gasoline in Kyrgyzstan have increased by 41% or to 14.7 soms.
The Kyrgyz Association of Oil Traders explained this week that diesel prices increased from 36.1 soms per liter in January to 46.1 soms at the beginning of June 2021, i.e. to 10 soms or by 28%.
The increase in the selling prices of refineries since the beginning of 2021 is due to the worldwide recovery in demand for oil and oil products.
Investments in industrial park. An investment agreement for a total amount of injected investments USD 100 million was solemnly signed this week in the Silk Way Industrial Park with investors from China with the participation of government officials, the management of the Silk Way Industrial Park and investors from China.
The signing ceremony was attended by Deputy Minister of Energy and Industry Bakyt Degembaev, Chairman of the Association of Kyrgyz-Chinese Cooperation Li Quan jun, local heads, representatives of the Chinese embassy in Kyrgyzstan.
Initial direct investment injections will amount to USD 20 million, with subsequent total investments amounting to USD 100 million.
“Today, additional investment opportunities are opening up for the Industrial Park. For the full-scale development of the Industrial Park, additional investments in the amount of USD 100 million were attracted. The investment partner is the leading Chinese entrepreneurs in the person of Liu Ying,” representatives of the Silk Way Industrial Park said.
Zero VAT rate. The Ministry of Agriculture, Water Resources and Regional Development of the Kyrgyz Republic submitted this week for public discussion a draft resolution of the Cabinet of Ministers "On goods subject to value added tax at the rate of zero percent, used to stabilize market prices for food products."
According to the document, the purpose of this draft resolution is to create favorable conditions for the effective operation of agricultural producers by providing tax incentives for the import of granulated sugar, vegetable oil and farm animals to the Kyrgyz Republic.
The goal of the project is to exempt from VAT on the import of granulated sugar, vegetable oil, farm animals carried out by agricultural entities of all forms of ownership and regardless of the purpose of their import (for their own production purposes, sale and leasing), regardless of the fact of registration of an economic entity in as a VAT payer.
Harvest. The gross harvest of early vegetables and fruits amounted to 9 thousand 128 tons, which is 3.7 thousand tons less than in 2020.
According to data of the Ministry of Agriculture, Water Resources and Regional Development of Kyrgyzstan, currently vegetables, potatoes and fruits are harvested in the southern Kadamjai, Leilek, Aravan and Kara-Suu regions of the country.
As of June 8, the country harvested 10.5 thousand tons of vegetables and 2 thousand 977 tons of fruits. The excavation of potatoes was carried out on 629 hectares, which is 418 hectares less than last year. The average yield was 148.8 c / ha, the gross yield was 9 thousand 128 tons, which is 3.7 thousand tons less than in 2020.
Call for investing. This week, during the visit of President of the Kyrgyz Republic to Turkey, Minister of Investment of Kyrgyzstan Almambet Shykmamatov met with Chairman of the Board of the Organized Industrial Zone (OSTIM) of Turkey Orhan Aydin.
Prospects for cooperation in attracting investments and development were discussed at the meeting.
Representatives of OSTIM briefed the Kyrgyz side on the activities of the organization, which is mainly represented by small and medium-sized enterprises and is one of the leading industrial zones in Ankara.
The members of the organization work in 17 main sectors of the Turkish economy and their number is more than 6 thousand 200 enterprises. One of the main goals of OSTIM members is the supply of products to foreign markets.
Cooperation with Turkey. Minister of Investment of Kyrgyzstan Almambet Shykmamatov met with President of the Union of Chambers of Commerce and Commodity Exchanges of Turkey Rifat Hisarcıklıoglu at the office of the TOBB Economics and Technology University in Turkey.
The purpose of the visit was to discuss the upcoming Kyrgyz-Turkish business forum, as well as the prospects for further cooperation on improving the performance indicators of business support institutions in Kyrgyzstan through reforms.
During the conversation, Rifat Hisarjyklyoglu noted that the sides did a good job for the fruitful holding of the Kyrgyz-Turkish business forum and stressed that at the moment Turkish business is showing great interest in participating in this event.
Harvest for export. This week it was announced that at the beginning of the year Kyrgyzstan exported 263 thousand 881.85 tons of agricultural products, seedlings - 684 thousand 397 pieces and 52 thousand 775.9 cubic meters of sawn timber.
According to data of the Ministry of Agriculture and Water Resources of the Kyrgyz Republic, all products fully complied with the quarantine phytosanitary requirements of the country of destination.
So, of them:
- seeds - 1 thousand 66 tons;
- seedlings - 684 thousand 397 pcs.
- grain crops - 38 thousand 556 tons;
- vegetables - 113 thousand 543 tons;
- potatoes - 14 thousand 340 tons;
- melons - 1 thousand 400 tons;
- fruits - 19 thousand 137 tons;
- dried fruits - 28 thousand 469 tons;
- nuts - 20 thousand 132 tons.
- and other industrial goods - 25 thousand 756.85 tons.
Flights to Turkey. Turkey and Kyrgyzstan intend to increase the number of flights between the two countries. Turkish President Recep Tayyip Erdogan said this week during summing up the results of talks with President of the Kyrgyz Republic Sadyr Zhaparov in Ankara.
A number of documents were signed aimed at strengthening and developing bilateral cooperation in various fields.
“I believe that through cooperation we will move our relationship much further in all areas. We will also increase the number of flights between Turkey and Kyrgyzstan in the near future,” the Turkish leader said.
Reservoir filling. The water level in the Toktogul reservoir continues to increase. According to data of Electric stations JSC the water level this week amounted to 10 billion 684.4 million cubic meters.
The average daily inflow is 1004 cubic meters / s, the flow rate is 407 cubic meters / s.
This year, a period of low water is observed in Kyrgyzstan. The volume of water in the Toktogul reservoir is 2 billion cubic meters less than in the same period of last year.
Country’s GDP. The gross domestic product in Kyrgyzstan, in January-May 2021, amounted to KGS 215 billion, having decreased by 1.6% compared to January-May 2020.
According to data of the National Statistics Committee of the Kyrgyz Republic, excluding enterprises for the development of the Kumtor deposit, the volume of GDP was about KGS 192 billion and, compared with the corresponding period of 2020, increased by 3.5%.
Uncontrollable inflation. In January-May 2021 (compared to December 2020), the increase in consumer prices and tariffs (inflation) in the country as a whole amounted to 4.8%.
The National Statistics Committee’s data said that prices for food and non-alcoholic beverages increased by 6.8%, alcoholic beverages and tobacco products by 6.5%, non-food products by 3%, tariffs for services rendered to the population by 1.1%.
Trade volume. The foreign trade turnover of Kyrgyzstan in January-April 2021 amounted to USD 2.1 billion and increased by 13.9% compared to January-April 2020.
According to data of the National Statistics Committee of the Kyrgyz Republic, export supplies decreased by 8.7%, amounting to USD 590.4 million. Import receipts, on the contrary, increased by 26.2%, amounting to USD 1 billion 493.9 million.
People below poverty line. 1 million 678 thousand people lived below the poverty line in 2020 in Kyrgyzstan, of which 73.7% were residents of rural settlements.
According to data of the National Statistics Committee of the Kyrgyz Republic, the cost value of the general poverty line in 2020 was KGS 35,268 per year per capita, extreme poverty – KGS 19,774.
A decrease in the poverty level in 2020 compared to the previous year was noted in Osh (by 6.0 percentage points) and Talas region (by 0.8 percentage points).
Interest of the Turks. “A wide circle of the Turkish business community is interested in investing in Kyrgyzstan,” said Kyrgyz Investment Minister Almambet Shykmamatov following the visit of the Kyrgyz delegation to Turkey this week.
He said that such spheres as light industry, agriculture, logistics, infrastructure projects and hydropower are of interest to Turkish investors.
Within the framework of Sadyr Zhaparov's official visit to Turkey, a meeting was held with the Turkish business community at the site of the Union of Turkish Chambers of Commerce and Industry (TOBB) in Ankara.
The Kyrgyz minister noted that following the meeting, 5 agreements were signed, according to which it is planned to deploy and introduce a system similar to the Turkish model of the OSTIM industrial zone in Bishkek, according to which more than 600 companies are gathered on one territory. Factories and plants are concentrated in one location, which is convenient for manufacturers and exporters.
Kabar News Agency
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