Kyrgyzstan’s economic week March 19 - 31

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One more attempt. MFT Services SA sent a letter to the State Property Fund of the Kyrgyz Republic about its interest in acquiring a 100% stake in Alfa Telecom CJSC (MegaCom).

The State Property Fund received an appropriate appeal. The Fund sent a letter to Alfa Telecom CJSC for further consideration.

According to earlier received applications from a number of companies regarding the purchase of a mobile operator, work is underway to review and study their proposals.

It is known that Kyrgyzstan has been trying to sell a mobile operator for two years, but so far the deal has not been completed for various reasons. Last time the starting price of the company was reduced.

Without taxes. A bill on the exemption from all possible taxes of the form of activity in the sphere of processing industry, agriculture and logistics is presented in Kyrgyzstan. The head of the Chamber of Tax Consultants at the Chamber of Commerce and Industry of the Kyrgyz Republic Tatyana Kim stated that often business does not use the preferences created by the legislation.

Kim said that President Sooronbay Jeenbekov, being the Prime Minister of the Kyrgyz Republic, initiated a bill on exemption from taxes such spheres as agriculture, processing industry and logistics.

Only own products. In Kyrgyzstan, it is proposed to legislate that only local products be presented in domestic hypermarkets. Dastan Omuraliev, Director General of Ecoproduct Asia LLC said at a meeting of the committee of the Chamber of Commerce for Industrial Policy, Export Promotion, Infrastructure Development and PPP and Entrepreneurship in the agro-industrial complex of the processing industry.

He said that there is a law in Kazakhstan obliging large chain stores to have at least 30% of local products on their shelves.

Digital project. The World Bank’s Board of Executive Directors approved of US$ 50 million financing for the Digital CASA (Central Asia-South Asia) – Kyrgyz Republic Project. The project will be financed by a combination of a US$ 25 million grantand a US$25 million credit.

The objective of the Digital CASA - Kyrgyz Republic Project is to increase access to more affordable internet, attract more private investments in the ICT sector, and improve the government’s capacity to deliver digital government services in the Kyrgyz Republic.

The project is aligned with the Kyrgyz government’s high priority initiative called Taza Koom, which means “Clean Society.” The Digital CASA - Kyrgyz Republic project will build foundations for the implementation of this initiative, which is a crucial pillar ofthe country’s National Sustainable Development Strategy 2018-2040.

Small hydropower plants are in focus. The efficiency of small hydropower plants in Kyrgyzstan will be changed. Deputy Chairman of the State Committee of Industry, Energy and Natural Resources Azamat Omorov said that, the current efficiency of small hydropower plants does not correspond to the realities of today. He considers that when this coefficient was adopted, there were high tariffs for renewable energy sources (RES).in the world.

"The world went along the path of RES, because they did not have other sources of energy. We also have water resources. The cost price of small hydropower plants is higher than that of large ones. However, for today in the world there is a tendency of reduction of tariffs for RES by means of development of technologies. There is a decrease of 80% on the solar sector, in the wind sector - 35%. It's the same for small HPPs," he said.

Omorov believes that the existing utility ratio is not commensurate with the tariffs in the world.

Kyrgyzstan can fulfill its obligations. Kyrgyzstan will be able to fulfill its obligations to export electricity through CASA-1000 project. Azamat Omorov, Deputy Chairman of the State Committee of Industry, Energy and Natural Resources said that Kyrgyzstan has sufficient potential to generate the required amount of electricity and that an active phase is currently underway to build a power transmission line to Central and South Asia.

Kyrgyzstan in EXPO 2020. President of the Chamber of Commerce and Industry of Kyrgyzstan Marat Sharshekeyev and Executive Director of the Dubai Expo 2002 Najeeb Mohammed Al-Ali signed an agreement on participation of the Kyrgyz Republic in the World Expo 2020 in Dubai (UAE).

Najeeb Mohammed Al-Ali stressed the great interest of most countries of the world, as well as international organizations, large corporations and companies in the EXPO 2020 in Dubai (UAE). He wished the Kyrgyz Republic successful preparation and fruitful participation in the exhibition.

Currency stability. The domestic foreign exchange market of Kyrgyzstan is stable. Chairman of the National Bank of the Kyrgyz Republic Tolkunbek Abdygulov said that since the beginning of 2018, the national currency’s fortification has made 1% and at the end of March 1 US dollar costs 68.43 soms.

"In March 2018, the National Bank did not participate in the domestic foreign exchange market. The monetary sector is characterized by the persistence of trends that began to appear in early 2018. The interest rates of the money market continue to fluctuate within the percentage corridor established by the National Bank. The activity on the interbank market of credit resources is still active. The banking sector has a sufficient level of liquidity, "he said.

Goods in Moscow. The opening of the Day of Kyrgyz Goods was held in Moscow in Perekrestok supermarket with the participation of Minister of Economy of the Kyrgyz Republic Artem Novikov and Deputy Minister of Economic Development of the Russian Federation Ilya Torosov, as part of the 20th meeting of the intergovernmental Russian-Kyrgyz commission on trade-economic, scientific-technical and humanitarian cooperation.

This event is one of the directions for the practical implementation of the agreements reached in the sphere of development of trade and economic cooperation between the Kyrgyz Republic and the Russian Federation.

The event was held to attract attention to the goods of Kyrgyz production and increase the recognition of domestic products in the trade networks of the Russian Federation and the formation of interest of Russian buyers to Kyrgyz products as high-quality organic products at affordable prices.

Kabar News Agency

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