The business forum of the Central Asian Regional Economic Cooperation (CAREC) is taking place in Bishkek. The agenda focuses on developing Kyrgyzstan's potential in the region.
The Minister of Economy and Commerce, Bakyt Sydykov, delivered a detailed overview of the country's current economic indicators and presented the main goals and objectives of the National Development Program until 2030 to the forum participants.
According to the minister, thanks to active measures to attract investments and implement large-scale projects, Kyrgyzstan's economy is demonstrating positive dynamics.
“In the last three years, we have observed record growth, averaging 9% per year. GDP increased from 1,020.7 billion soms in 2022 to 1,523.2 billion soms in 2024. All sectors of the economy are showing positive dynamics: industry — 7%, agriculture — 5%, construction — 16%, services — 8%. This growth has been achieved through investments. During this period, about 23 billion dollars were attracted, including 3.7 billion dollars in direct foreign investments. We have consistently improved the business climate by simplifying regulations and ensuring reliable protection of investors' rights,” emphasized Bakyt Sydykov.
Next, the minister presented the strategic document — the National Development Program of Kyrgyzstan until 2030.
“Our goal is to ensure sustainable GDP growth of at least 8% per year, which will allow us to reach an economy size of at least 30 billion US dollars and increase GDP per capita to 4,500 dollars. Key priorities remain: human capital development, improving the quality of education and healthcare, supporting small and medium-sized businesses, attracting investments, and reducing the unemployment rate to 5%,” he added.
The main factors contributing to economic growth have been identified as four directions: industrialization, agricultural and tourism development, creating a regional hub, and "green" energy.
“To achieve the set goals, joint efforts from the government, business, citizens, and international partners are necessary. We plan to double the volume of industrial production and increase the share of investments in fixed capital of industry to 50%. Among the priorities are the development of machine engineering, pharmaceuticals, the textile industry, and the production of building materials with the introduction of modern technologies. This will significantly enhance export potential and create new jobs,” summarized Bakyt Sydykov.
