Economic Week of Kyrgyzstan Dec.18-23, 2017

2932 views Analytics 0

Contracts started working. The President of Uzbekistan has approved two international agreements with Kyrgyzstan. Shavkat Mirziyoyev signed a resolution approving the protocol on introducing changes and amendments to the Agreement between the Governments of Kyrgyzstan and Uzbekistan on the international road traffic of September 4, 1996.

By another resolution, Mirziyoyev approved the Agreement between Kyrgyz and Uzbek governments on delegating the responsibility for air traffic services.

Construction of the gas pipeline. The construction of the Kyrgyz section of the transit gas pipeline from Turkmenistan to China will begin in late 2019. Ulanbek Ryskulov, the chairman of the State Committee for Industry, Energy and Subsoil Use of the Kyrgyz Republic said that the pipeline will be constructed by the Chinese SINO-Pipeline International Company Limited. In Kyrgyzstan, the pipeline will run through the territory of Chon-Alai towards Irkeshtam.

The total length of the gas pipeline in Kyrgyzstan will be approximately 215 km, the capacity will be 3 billion cubic meters. Total construction of the project is estimated at $ 1.2 billion. The construction will be carried out entirely at the expense of the Chinese side. The term of implementation of the project is 3 years.

ADB Grant. The Board of Directors of the Asian Development Bank (ADB) has approved a program grant of $ 25 million to continue efforts to improve the investment climate in Kyrgyzstan and more effectively involve the private sector in the country's economic growth. The grant is provided within the framework of subprogramme 3 of the Second Investment Climate Improvement Program in the Kyrgyz Republic.

“The private sector has a significant role to play in boosting the Kyrgyz economy through diversified economic growth and higher value-added job creation,” said Priyanka Sood, Senior Financial Sector Specialist at ADB. “ADB’s grant will increase access to financial services for small businesses, improve prospects for private sector participation in developing infrastructure including through public-private partnerships (PPPs), diversify trade and investment, and increase transparency and ease of doing business. Together, these actions will make the country a more attractive place for investment and job creation.”

The property inventory. The Foundation for State Property Management of Kyrgyzstan completed a process of inventorying of all property. Chairman of the Foundation for State Property said that, earlier because of the lack of a systematic report, the government did not have information on the value and volumes of state property. Now the state bodies and subordinate units completed the work on data entry into an automated system.

It is planned the second stage of the inventory, after which there will be a reassessment of all state property.

Chinese streets of Bishkek. China will finance the reconstruction and rehabilitation of 60 streets in Bishkek. According to data of the Ministry of Economy of the Kyrgyz Republic, the Exchange letters were signed in Bishkek between the Government of the Kyrgyz Republic and the Government of the People’s Republic of China on the implementation of the project "Development of the Bishkek Road Network (Phase 2)". On behalf of the Kyrgyz Government the document was signed by Minister Novikov and on behalf of the Chinese Government by Ambassador Xiao Qinghua.

In addition, the parties discussed issues of bilateral cooperation, including the promotion of agricultural products to the Chinese market, the transfer of capacities to Kyrgyzstan, cooperation under the One Belt, One Road initiative.

IMF about growth in the Kyrgyz Republic. The IMF assumes that the growth of the economy of Kyrgyzstan in 2017 will be 3.2%, and in 2018 it will be 3.3%. At the same time, inflation in 2017 will be 3.2%, and in 2018 will increase to 5.5%. The public debt of Kyrgyzstan, according to the IMF forecast, will make up 57.1% of GDP in 2017, and in 2018 - 58.2%. In addition, in 2017, the growth of Kyrgyz exports is expected at 10.4%, in 2018 - by 6.2%. Import will grow by 12.1% in 2017, in 2018 - by 11.5%.

The IMF also points out that since the beginning of this year, the IMF forecasted 3.5% growth in the republic's economy. The difficulties because of border problems in October on the Kyrgyz-Kazakh border led to a decrease in the forecast for GDP growth by 0.3 %.

Regions are activated. 39 private enterprises were opened in the territory of Osh oblast for 11 months of 2017. According to data of the local authorities, 301 jobs were created in 2017 in Osh region. The total capital investments amounted to more than 84 million soms, the budget received 264 thousand soms. Besides, 28 industrial enterprises, 5 enterprises connected with agriculture, 4 service enterprises and 2 enterprises connected with drinking water were opened.

In addition to small enterprises, 91 large industrial enterprises operate on the territory of Osh oblast. In total oblast small and large industrial enterprises in Osh produced goods for 4 billion 22 million soms for 11 months of 2017, the growth index made up 108.9 percent.

Kabar News Agency

Comments

Post Comment