Economy

The Government of the Kyrgyz Republic Introduces State Price Regulation on Coal

In order to control the price situation in the coal extraction and sales market, to curb price increases in the secondary market, and to ensure compliance with the provisions of Article 9 of the Law of the Kyrgyz Republic "On Competition," the Prime Minister of the Kyrgyz Republic, Joomart Otorbaev, signed a government resolution "On the introduction of state regulation of coal prices in the territory of the Kyrgyz Republic."

04.11.2014, 08:35

Economy

Attracting Investments from the Republic of Korea to the Country's Economy

Today, October 30, the First Deputy Prime Minister of the Kyrgyz Republic, Taiyrbek Sarpashev, met with a group of investors from the Republic of Korea.

30.10.2014, 20:18

Economy

In the first 9 months of 2014, the expenditure part of the republican budget was executed in the amount of 71 billion 902.4 million soms.

According to preliminary data, from January to September 2014, the expenditure part of the republican budget (excluding special funds and taking into account state debt) was executed in the amount of 71 billion 902.4 million soms, or 91.6% of the plan amounting to 78 billion 492.9 million soms. For the corresponding period of the previous year, the execution of the republican budget (excluding special funds) amounted to 63 billion 775.4 million soms. Compared to the same period last year,

30.10.2014, 20:16

Economy

The price of beans is being undercut by intermediaries.

The Minister of Agriculture and Melioration of the Kyrgyz Republic, T. Aydaraliev, met with bean producers and buyers during his trip to Talas. The residents of Talas are dissatisfied with the prices of beans this year. It is worth noting that last year the price of beans ranged from 74 soms to 100 soms, while in 2014, from January to March, they were purchased at prices ranging from 100 soms to 115 soms. However, from mid-March, the price of beans was estimated at 60-65 soms. Bean producers

28.10.2014, 17:47

Economy

"There is no shortage of dollars in Kyrgyzstan - National Bank"

The National Bank of the Kyrgyz Republic is taking all necessary measures to support the national currency. There is no shortage of foreign currency in the country. This was stated at a press conference by the Deputy Chairman of the Central Bank, Nurbek Zhenish. He reported that since the beginning of September this year, the exchange rate of the US dollar against the som has increased by 5.87%, from 52.9561 (on September 1) to 56.0660 (on October 23) soms per one US dollar. "Overall,

24.10.2014, 16:48

Economy

In the capital, parliamentary hearings are taking place to discuss the draft Law of the Kyrgyz Republic "On Public Procurement."

The Department of Public Procurement under the Ministry of Finance of the Kyrgyz Republic, within the framework of the Public Procurement Development Strategy for 2012-2014, approved by the resolution of the Government of the Kyrgyz Republic dated September 27, 2012, No. 661, together with invited consultants, has developed and submitted for consideration to the Jogorku Kenesh of the Kyrgyz Republic the draft Law of the Kyrgyz Republic 'On Public Procurement'.

24.10.2014, 16:13

Economy

Creation of an International Transcontinental Aviation Hub Based on the International Airports of OJSC "Manas International Airport" in Kyrgyzstan

On October 24, the Prime Minister of the Kyrgyz Republic, Joomart Otorbaev, participated in the first expanded investment hearings of the Government of the Kyrgyz Republic regarding the project for the creation of an international transcontinental aviation hub based on the international airports of OJSC "Manas International Airport".

24.10.2014, 16:08

Economy

A delegation from Turkey arrived at the Ministry of Finance to familiarize themselves with the reforms of the Ministry of Finance of the Kyrgyz Republic and to conduct an analysis of the needs for the automation of financial processes in the public sector.

On October 20, 2014, a meeting took place in the Small Hall of the Ministry of Finance of the Kyrgyz Republic between the leadership of the Ministry of Finance and the State Personnel Service of the Kyrgyz Republic and a delegation from the Republic of Turkey, consisting of representatives from the Ministry of Finance and the Treasury Secretariat of Turkey, as well as the Turkish Cooperation and Coordination Agency (TIKA). The Deputy Minister of Finance, Zuur Eduardovna Bayamanova, warmly

22.10.2014, 16:38

Economy

Results of the Socio-Economic Development of the Kyrgyz Republic for the First 9 Months of 2014

According to preliminary data from the National Statistical Committee of the Kyrgyz Republic, the real GDP growth for January-September 2014 was 3.0%, which is 5.9 percentage points lower than the corresponding period in 2013, while the nominal GDP amounted to 266.6 billion soms.

18.10.2014, 09:38

Economy

Discussion of the list of goods for which it is proposed to apply preferential customs duty rates

In order to discuss the List of goods for which the Kyrgyz Republic intends to apply import customs duty rates different from those established by the Customs Union during the transitional period, the Ministry of Energy and Industry held a Round Table on October 14 of this year. Specialists from the Ministry of Economy of the Kyrgyz Republic, heads of industrial enterprises, representatives of public organizations, and business associations participated in this event. In particular, the

14.10.2014, 18:25

Economy

Presentation of the project "USAID Business Development Initiative"

On October 14, the Vice Prime Minister of the Kyrgyz Republic, Valery Dil, participated in the presentation of the project "USAID Business Development Initiative".

14.10.2014, 18:14

Economy

In the first 9 months of 2014, the funding plan for the equalization grant for the Naryn region amounts to 45.9 million soms.

In accordance with Article 37 of the Law of the Kyrgyz Republic "On the Basic Principles of Budgetary Law in the Kyrgyz Republic," the maintenance of municipal enterprises, educational institutions, healthcare, culture, social insurance and social security, physical culture, television, radio broadcasting, publishing, housing and communal services, agriculture, water management, and forestry is funded from the local budget.

06.10.2014, 21:26

Economy

The Business Council "Kyrgyzstan-Korea" Meeting Took Place at the Chamber of Commerce and Industry of the Kyrgyz Republic

A meeting of the Business Council 'Kyrgyzstan-Korea' was held at the Chamber of Commerce and Industry of the Kyrgyz Republic, with the participation of the Ambassador of the Republic of Korea to Kyrgyzstan, Mr. Kim Chang-kyu, the leadership of the Chamber of Commerce and Industry of the Kyrgyz Republic, and members of the Business Council 'Kyrgyzstan-Korea'.

29.09.2014, 20:38

Economy

Tajik Companies Noted the Productivity of Their Participation in "AgroProdExpo 2014" in Kyrgyzstan

Tajik companies, which arrived in Kyrgyzstan for the first time to participate in the 10th international exhibition-fair of food products and agricultural products "AgroProdExpo 2014," noted its productivity. This was stated by the representative of the Chamber of Commerce and Industry of Tajikistan, Mukammol Radzhavi, during a meeting with the leadership of the Chamber of Commerce and Industry of the Kyrgyz Republic.

29.09.2014, 20:37

Economy

The International Business Council has developed a vision for the development of Kyrgyzstan's economy.

The International Business Council has developed a vision for the development of the Kyrgyz economy and discussed it at an open meeting. The event was attended by Parliament Members Ulukbek Kochkorov, Rosa Aknazarova, Alla Izmalkova, and Mirlan Bakirov, Economy Minister Temir Sariev, representatives of the President’s Office, Government, USAID REFORMA Project, international organizations, business associations, and NGOs. The participants discussed the conditions (political, economic, legal,

29.09.2014, 19:39

Economy

The Prime Minister inspected the progress of the development of the Burgondinsky massif.

Today, September 27, the Prime Minister of the Kyrgyz Republic, Joomart Otorbaev, inspected the progress of the development of the Burgondin massif in the Kadamjai district of the Batken region. The Minister of Agriculture and Melioration of the Kyrgyz Republic, Talaybek Aidaraliev, informed the Prime Minister that last year over 80 million soms were allocated for the development, this year it is planned to allocate over 120 million soms, and in 2015 — over 125 million soms, with the goal of

27.09.2014, 12:12

Economy

The Ministry of Economy explains the conditions for allowing Kyrgyz products into the EAEU market from the perspective of technical regulation

Currently, the Government of the Kyrgyz Republic is actively working on joining Kyrgyzstan to the Customs Union. In this regard, the Ministry of Economy of the Kyrgyz Republic informs about the conditions for the access of Kyrgyz goods (products) to the markets of the Customs Union countries from the perspective of technical regulation (standardization, certification, testing, accreditation, etc.) in the case of Kyrgyzstan's accession/non-accession to the Customs Union. Technical

21.09.2014, 15:50

Economy

Kyrgyzstan Initiates Regional Integration of Artisans

In the photo: Kyrgyz ceramicist Jumagul Tashiev showcases his vases in Bishkek in August. The Bishkek Business Club is helping him promote his clay dishes.

17.09.2014, 08:11

Economy

Kyrgyzstan is ready to supply the Sverdlovsk region with environmentally friendly agricultural products.

Kyrgyzstan is showing serious interest in the Sverdlovsk region in developing cooperation. This was stated by the Minister of Foreign Affairs of Kyrgyzstan, Erlan Abdyldaev, during a meeting with Governor Yevgeny Kuyvashev, as reported on September 8 by a correspondent of IA REGNUM in the Department of Information Policy of the regional head. “Understanding that your region is a flagship of Russian industry, and Kyrgyzstan is beginning to implement the program of the second industrial

12.09.2014, 15:30

Economy

World Economic Forum 2014-2015: Kyrgyzstan Improved Its Position by 3 Places in the GDP Ranking

Kyrgyzstan ranked 128th in terms of gross domestic product among 144 countries with $7.2 billion (2013 figure). This is stated in the Global Competitiveness Index 2014-2015 report prepared by the World Economic Forum.

04.09.2014, 14:35

Economy

Independence of Kyrgyzstan: Economic Aspect

While celebrating the day of independence of Kyrgyzstan, we often do not think about the fact that sovereignty is a legal status that becomes formal if it is not supported by economic indicators. In our global world, where countries actively trade with each other, invest money in each other's economies, exchange tourists, students, and labor migrants, it is becoming increasingly difficult to remain an independent state.

04.09.2014, 14:30

Economy

Kyrgyzstan will join the Customs Union and the Eurasian Economic Community in 2014.

Kyrgyzstan will join the Customs Union and the Eurasian Economic Union in 2014 On Monday, a meeting took place in Sochi between the President of the Russian Federation Vladimir Putin and the President of the Kyrgyz Republic Almazbek Atambayev. Following the negotiations, the President of Kyrgyzstan announced the country's accession to the Customs Union and the Eurasian Economic Union by the end of the current year. “We have serious investment plans, especially in energy, and plans for

26.08.2014, 16:04

Economy

Kyrgyzstan Aims to Increase Agricultural Product Exports to Russia

Kyrgyz authorities are convinced that the republic can benefit from the ban imposed by Russia on agricultural imports from the European Union and several other countries. Following Moscow's decision to prohibit the import of agricultural products from the EU and a number of Western countries, plans for a significant increase in supplies to Russia began to take shape in Bishkek. The Ministry of Economy of Kyrgyzstan reported that during negotiations with the Russian side, they managed to

25.08.2014, 13:39

Economy / Political news

Russia will allocate 500 million dollars to support the economy of Kyrgyzstan.

Russia will allocate 500 million dollars to support the economy of Kyrgyzstan for its swift accession to the Eurasian Economic Union, stated the head of the Russian Foreign Ministry, Sergey Lavrov, following a meeting between Russian President Vladimir Putin and his Kyrgyz counterpart Almazbek Atambayev.

15.08.2014, 16:04

Economy

In the Doing Business ranking, Kyrgyzstan surpassed Turkey and China.

In the Doing Business-2014 country ranking, Kyrgyzstan took the 68th position, improving its indicators by two points compared to last year's results, surpassing countries such as Turkey and China. This is reported in the World Bank's report.

06.08.2014, 15:45

Economy

The Ministry of Agriculture proposed to South Korea to import beans from Kyrgyzstan.

The Ministry of Agriculture and Melioration proposed to South Korea to import beans from Kyrgyzstan. This was reported by the press service of the ministry on July 30, 2014. Minister Talaybek Aidaraliev met with the director of the South Korean FIT Association, Kim Sok Dong, and businessmen. During the meeting, issues related to the export of agricultural products from Kyrgyzstan to South Korea were discussed, in particular, the businessmen showed interest in Kyrgyz beans. They reported that a

30.07.2014, 13:29

Tourism / Economy

The cable car from Almaty to Issyk-Kul could pay off in 5 years.

The cable car from Almaty to Issyk-Kul could pay off in five years. This was reported by the head of the ecological union of Kazakhstan "Tabigat," Mels Eleusizov.

17.07.2014, 09:12

Economy

Maksat Chakiev: Representatives of the tourism business attracted 35 million soms to Kyrgyzstan

The head of the tourism department reported on the results of domestic entrepreneurs' participation in international fairs in the tourism sector. Domestic representatives of the tourism business participated in 4 international tourism fairs. This was reported by the head of the Tourism Department, Maksat Chakiev. The exhibitions took place in Moscow, Yekaterinburg, Novosibirsk, and Almaty. According to the head of the department, domestic entrepreneurs in the tourism sector signed more

25.05.2014, 16:14

Economy

The IMF suggests that Kyrgyzstan improve its investment climate.

At a press conference in Bishkek on May 16, the head of the International Monetary Fund mission, Christian Beddies, stated that both the government and the IMF are aware of the existence of the shadow economy in the Kyrgyz Republic. “We believe that improving the business environment and creating equal economic conditions for all market participants will lead to a reduction in the level of the shadow economy and the withdrawal of activities from the shadows.” He expressed the opinion that this

18.05.2014, 07:54

Economy

Members of the National Council of Kyrgyzstan urge the authorities to postpone the signing of the roadmap for joining the Customs Union.

"We, members of public supervisory councils and civil activists of Kyrgyzstan, call for a transparent and comprehensive analysis of the consequences of joining the Customs Union for all sectors of the country, including social sectors: education, healthcare, and social protection," the statement released today says. Members of the Public Supervisory Council are concerned that the government, represented by the Minister of Economy of Kyrgyzstan, Temir Sariev, has not ensured a

17.05.2014, 11:33

Economy

Kyrgyzstan Achieved Benefits Upon Joining the Customs Union

The government of Kyrgyzstan has approved the "road map" project for joining the Customs Union (CU). During the negotiations, an agreement was reached on certain preferences for the republic, said the Minister of Economy of the republic, Temir Sariev, on Monday.

14.05.2014, 20:56

Economy

Aiming for Prosperous Switzerland

Kyrgyzstan still remains a country that is entirely dependent on foreign influences. Despite the ongoing difficulties faced by foreigners working in the territory of the Kyrgyz Republic, they continue to believe in the promises of the official authorities regarding support and invest fabulous sums into our country. This week, the First Deputy Prime Minister of the Kyrgyz Republic, Joomart Otorbaev, met with the Ambassador of Switzerland to the Kyrgyz Republic, Rene Holenstein. The parties

14.03.2014, 21:44

Economy

Kazakhstan: Trading in Light, Vegetables, and Clothing

In terms of trade volume with Kyrgyzstan, Kazakhstan ranks third. Kyrgyzstan trades with a total of 141 countries worldwide. Of this, 12 percent of Kyrgyzstan's total trade is with its closest neighbor. Over the past three years, this figure has tripled. Today, a conference dedicated to trade cooperation between the states took place in Bishkek.

12.03.2014, 18:35