Kyrgyzstan's economic week Jan. 22-28, 2018

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t is not possible without Bishkek. 70% of the state budget is formed at the expense of Bishkek, Kyrgyz presidential adviser Muratbek Shaimkulov said. 10% of the funds in the state budget of the Kyrgyz Republic comes from Chui oblast. And other regions forms no more than 20%. This is due to the fact that the policy of forming the state budget is focused on Bishkek.

Shaimkulov said that the economic indicators are different in the regions. In this regard, the flow of direct investments is different in relation to the regions. "There are direct investments in Bishkek and Chui oblast. The situation with attracting investment has improved in Jalal-Abad and Osh oblasts. In other regions the situation has not changed," he added.

State Insurance Organization paid insurance to citizens. In 2017 State Insurance Organization OJSC paid insurance to citizens of Kyrgyzstan in the amount of 6 million soms, chairman of the board of OJSC Zhumagul Egemberdieva said.

She said that, those citizens, who insured their houses, received money from insurance. She urged citizens to insure their houses, since no one is immune from sudden natural disasters and fires.

65,000 citizens have insured their houses in Kyrgyzstan, more than 50% of them live in Osh oblast.

German business. "We already have experience in holding the Day of Germany in the Kyrgyz Republic and would like to propose holding this year the Day of Germany in Bishkek, where the entrepreneurs of the two countries would participate for active cooperation," Minister of Economy of the Kyrgyz Republic Artem Novikov said at the meeting with Ambassador of Germany to the Kyrgyz Republic Monica Iversen.

Novikov said that the Ministry of Economy attaches great importance to the further strengthening and expansion of cooperation with Germany in such areas as trade, investment, business, agriculture, etc.

During the meeting, the sides discussed the current status of bilateral cooperation, the opportunities for their expansion, as well as the issues of providing comprehensive assistance in implementing the agreements reached during the recent regular Kyrgyz-German intergovernmental negotiations on financial and technical cooperation that took place on July 3-4, 2017 in Bonn.

One of the successfully completed events in recent years was the holding of the Second Day of the German Economy in Kyrgyzstan in 2017, which was organized during the visit of the Parliamentary State Secretary of the Ministry of Economic Cooperation and Development of the Federal Republic of Germany Hans-Joachim Fuchtel.

There will be no double taxation - with Estonia. This week President Sooronbay Jeenbekov signed the law "On ratification of the Agreement between the Government of the Kyrgyz Republic and the Government of the Republic of Estonia on avoiding double taxation and preventing evasion from payment of income taxes.

The agreement determines the rules for differentiating the rights of each of the contracting states on the taxation of subjects of one state that has an object of taxation in another state.

.Promotion in Japan. A seminar was held in Tokyo on promoting investments in the Kyrgyz Republic, where the keynote speaker was Esen Momunkulov, Director of the Agency for Promotion and Protection of Investments of the Kyrgyz Republic.

In his presentation, he informed the audience about the economic situation in the country, existing infrastructure projects, including in the energy sector, the National Taza Koom Digital Transformation Program, as well as about favorable conditions created for foreign investors and the advantages of investing in the economy of the Kyrgyz Republic.

Ambassador of the Kyrgyz Republic to Japan Chyngyz Aidarbekov delivered a welcoming speech at the seminar. He stressed the democratic achievements of the Kyrgyz Republic, stable state development course and high level of Kyrgyz-Japanese relations, urging Japanese businessmen to invest actively in the economy of Kyrgyzstan, following the vivid examples of Sawada Holdings and "TokyoRopeMFGCo., Ltd", which entered the country's market in 2017.

The WB in the Kyrgyz Republic. "The World Bank is one of the main partners of the Kyrgyz government in the development of the country," Deputy Minister of Economy of Kyrgyzstan Almaz Sazbakov said at a meeting with the World Bank Country Director in Bishkek Bolormaa Amgaabazar.

During the meeting Sazbakov informed that the Government of the country has started to develop a long-term development strategy until 2040.

Kabar News Agency

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