Business life in Kyrgyzstan, despite some complication of the sanitary and epidemiological situation due to the increase in coronavirus diseases, continued to intensify this week. In order to reassure potential investors, it was announced that investors in the mining industry did not intend to leave the country, and the incident with the fire of one of the enterprises was accidental. In addition, the country's new agrarian minister voiced the willingness of Kyrgyz farmers to work with investors at the FAO conference, tax collection in the country is even better than planned, electricity consumption has grown significantly, and the special services continue to identify violations and force violators to compensate the damage to the state. However, there were also negative moments, such as the rise in prices for a number of demanded products, the growth of the dollar exchange rate throughout the week, and the Chinese side announced the conditions to increase the flow of goods to Kyrgyzstan.
In general, the week turned out to be quite stable for the business environment, creating more acceptable conditions for development.
Investors' intentions. It was announced this week that investors in the mining industry in Kyrgyzstan are not going to leave the market.
Head of the State Committee for Industry, Energy and Subsoil Use of Kyrgyzstan Jyrgalbek Sagynbaev held a meeting with all investors in the mining industry this week.
He said that nobody intends to leave the Kyrgyz market.
In addition, he stated that investors in Kyrgyzstan are protected by the state. In particular, he specified that the rights of investors are protected by law enforcement agencies and local authorities.
There was no arson. It was announced this week that there was no deliberate arson attack at a field in Jalal-Abad Oblast.
According to Head of the State Committee for Industry, Energy and Subsoil Use of Kyrgyzstan Sagynbaev, an investigation is currently underway at the scene. “We met with the management of the company. We were informed that welding was being carried out on the spot. The spark hit the fabric and a fire took place,” he explained.
Sagynbaev did not specify what kind of field he was talking about.
The law will change. The law on mineral resources of Kyrgyzstan is amended.
According to data of the State Committee for Industry, Energy and Subsoil Use of Kyrgyzstan, in particular, it is planned to prescribe in the law that 90% of employees should be from the local population, and 10% - foreign labor. We are not talking specifically about the region, but about Kyrgyzstan as a whole.
In addition, the State Committee for Industry, Energy and Subsoil Use of Kyrgyzstan intends to initiate a law banning the export of ore and concentrate from the country.
The committee believes that concentrates and ore should be processed in Kyrgyzstan. Nowhere in the world such raw materials are exported from the country. But for this we must create conditions. In particular, to open laboratories. There should be more processing plants.
The dollar exchange rate has risen again. This week the US dollar has risen three times.
At the beginning of the week, commercial banks were selling the dollar at KGS 83, and the euro was selling at KGS 97.3.
And at the end of the week, the dollar rate increased to KGS 84.
At the same time, in October, the National Bank of the Kyrgyz Republic carried out two interventions, selling USD 59.5 million on the market.
FAO Conference. At the beginning of the week, a plenary meeting of the 32nd session of the UN FAO regional conference with the participation of the newly appointed Minister of Agriculture, Food Industry and Land Reclamation of the Kyrgyz Republic Tilek Toktogaziev was held in the format of videoconferencing.
The Kyrgyz minister touched upon such issues as the formation of effective food systems, stimulating investment in the creation and development of value chains, the current situation in the country's agriculture, as well as the need to transform the strategy of agriculture and food systems and the prospects for close cooperation of the Kyrgyz Republic with international organizations, partners in the region, as well as with neighboring countries.
In total, the above event was attended by 290 delegates from 54 members of the UN FAO member states, 9 observers and representatives of the private and civil sector
Power consumption. It was announced this week that electricity consumption in Kyrgyzstan has grown significantly.
According to the operational data of the central dispatch service of the National Electric Grid of Kyrgyzstan OJSC, in October 2020, electricity consumption in the Kyrgyz power system amounted to 1 billion 286 million 078 thousand kWh.
For the same period in 2019, electricity consumption in the Kyrgyz Republic amounted to 1 billion 77 million 917 thousand kWh.
Rise in price. Over the month, meat in Kyrgyzstan has risen in price by 11%.
According to Larisa Shustikova, head of the Competitive Environment Analysis Department of the State Antimonopoly Regulation Service of the Kyrgyz Republic, since January, the price increase for beef has made 21%. Over the past week, prices have risen by 2%. Also, sugar has risen in price by 13% since the beginning of the year, sunflower oil by 33.9% since January, and over the month - by 8%.
The rise in prices for products was due to the fact that sugar and butter are imported from other countries. These are mainly Russia and Kazakhstan. Due to the weak beet harvest in Russia this year, sugar prices have jumped.
Compensation. It was announced this week that since Oct. 15, Kyrgyzstan has compensated the damage to the state in the amount of about KGS 600 million.
The Anti-corruption Service of the State Committee for National Security is constantly working to identify and compensate for damage caused to the state budget as a result of committing corruption-related crimes.
In accordance with the measures taken within the framework of the investigation of the relevant criminal cases, From Oct. 15, 2020 to the present day, the state budget of the Kyrgyz Republic received KGS 575 million as a compensation.
The State Committee for National Security continues to take appropriate measures to compensate the damage caused to the state by committing corruption crimes, about which the public will be informed in a timely manner.
Freight traffic from China. This week, during bilateral discussions on the situation with freight traffic from China to Kyrgyzstan, the Chinese side voiced its demands to Kyrgyzstan to increase freight traffic.
According to the State Customs Service of the Kyrgyz Republic, another meeting was held with representatives of the Kyrgyz business community. It was attended by representatives of the State Tax Service and the Ministry of Economy of the Kyrgyz Republic, representatives of the Administration of Naryn Oblast and the Border Service of the Kyrgyz Republic.
At the meeting, the participants were told that during the negotiations, the Kyrgyz side asked to revise the operating hours of the Torugart checkpoint from 09:00 to 18:00 without interruption, thereby increasing the cargo traffic. In turn, the Chinese side voiced its requirements, namely, compliance with the sanitary and technical condition of vehicles and trailers, prevent faulty old cars from being transported, take into account the coincidence of the technical parameters of vehicles when transferring goods, and ensure the safety of Chinese companies in Kyrgyzstan. Subject to the above requirements, the Chinese side gave assurances of a significant increase in cargo transportation.
Kabar News Agency
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