New pension fund. The State Financial Supervision Agency of the Kyrgyz Republic plans to stimulate the creation of pension funds in the country in the form of joint-stock companies. The state agency has prepared a draft law “On Amendments to the Law of the Kyrgyz Republic “On Accumulative Pension Funds in the Kyrgyz Republic”.
The bill was prepared in order to introduce corporate and professional pension funds in the Kyrgyz Republic, develop the market of accumulative pension funds by improving the legislation of the Kyrgyz Republic in the sphere of accumulative pension funds.
What does Kyrgyzstan exchange?: The main share of export and import deliveries of Kyrgyzstan is the goods of the processing industry.
According to data of the National Statistics Committee of the Kyrgyz Republic, in 2016, 79% of the export volume was formed by products of the industrial sector. In 2017, it amounted to 77.9%, and 74.9 %% - in 2018. Further, the goods derived from the results of mining operations - 10.8% in 2016, 9.2% in 2017 and 9 , 4% in 2018, as well as goods of agriculture, forestry and fisheries - 8.1% in 2016, 7.7% in 2017 and 7.2% in 2018.
At the same time, in 2018, the largest share of exported manufacturing goods fell on the production of base metals and finished metal products, except machinery and equipment (53.7%), clothing production (11.1%), and food products (6.8% ), coke and refined petroleum products (6.5%) and other non-metallic mineral products (5.6%).
Trade with Lithuania: A delegation of the Ministry of Foreign Affairs of Lithuania headed by Vice Minister Darius Skusiewicius visited the Chamber of Commerce and Industry of Kyrgyzstan.
The delegation was interested in the investment climate in Kyrgyzstan. Skusiewicius noted that today the trade turnover between the countries is about 92 million euro. “Kyrgyzstan imports vehicles, electronics, equipment and food products from Lithuania. Our republic exports copper and silver,” he said. However, according to the vice minister, countries need to strive, it is possible to increase the volume of trade in case of intensification of business cooperation.
The Fund is working. The Russian-Kyrgyz Development Fund financed projects for $ 303.9 million.
According to Chairman of the Board of the Fund Erkin Asrandiev, from the beginning of the project’s work, 1 653 projects were approved.
“Of these, 2% are big business, 98% are medium and small business. 52.6% of them went to the agro-industrial sector, tourism - 11,%, transport and logistics - 12.4% infrastructure development - 11.6%, communications and IT - 1.6%, financial activities 0.9%, other industries, including the banking sector, 9.1%,” he said.
Loan for Bishkek HPP increased. Modernization of the Bishkek heat and power plant (HPP) will cost the country $ 492 million 632 thousand.
Speaking at a parliamentary meeting, Finance Minister Baktygul Jeenbaeva told that the main debt for modernization of Bishkek HPP is $ 386 million.
However, “interest is $ 104 million. There were $ 1.8 million in fees. This is a one-time payment. Thus, the total amount is $ 492 million 632 thousand,” she said and noted that the payment will be made until 2033.
The modernization of the Bishkek HPP was completed in 2017. The General Prosecutor's Office of the Kyrgyz Republic initiated criminal cases on the fact of corruption as part of the modernization of a number of high-ranking officials of the country.
The money for the modernization was taken on credit in the Chinese Eximbank.
Soon will have to pay. From 2025, Kyrgyzstan will annually begin to pay $ 42 million of the public debt, Finance Minister Jeenbaeva told parliamentarians.
The Parliament is considering a draft law on raising the threshold for public debt to 70% of the country's GDP, although there are deputies among them who are against it.
Interest on state debt is currently paid at $ 3.6 million.
Not big, but growth. The International Monetary Fund (IMF) predicts the growth of Kyrgyzstan’s economy in 2019 at the level of 3.8%.
According to a representative of the IMF, the economy of the Kyrgyz Republic grew by 3.5 percent in 2018, benefiting from stable regional environment. Inflation at 1.5 percent on average for the year, a moderate fiscal deficit of 1.3 percent of GDP for 2018, gross official foreign exchange reserves at 4 months of imports and a stable banking sector point to the success of stabilization policies, carried out by the government and National Bank of the Kyrgyz Republic.
Exhibition in Doha. Eight Kyrgyz companies, in particular “Kyrgyz Natural Product”, “GIMNILI”, “Manyz”, “Balary”, “Aman Green Food”, “Dary Tian-Shan”, “Ala-Too Honey” and “Khanhyap” took part in the Seventh International Exhibition "AGRITEQ-2019".
Their participation was organized by the Embassy of Kyrgyzstan in the State of Qatar and the Agency for the Promotion and Protection of Investments of the Kyrgyz Republic and aims at promoting export products of the Kyrgyz Republic. The exhibition was held from March 19 to March 22 of this year in Doha.
The event was dedicated to modern achievements and technologies in the field of agriculture and the environment. There were also conferences on innovations in the agricultural sector, preservation of the environment, various presentations and negotiations of potential partners.
Over 450 companies from 49 countries of the world took part in this exhibition. Kyrgyzstan participates in AGRITEQ for the second time and this year presented various types of honey, dried fruits, nuts, incubation elite chicken eggs and meat.
Kabar News Agency
Comments
Post Comment