Kyrgyzstan intends to increase exports

Bishkek, Sept. 29, 2022 / Kabar /. For the sustainable development of the economy of Kyrgyzstan, it is necessary to promote exports, Umbriel Temiraliev, Director of the National Investment Agency under the President of the Kyrgyz Republic, told today during a press conference at Kabar Agency. He noted that the global economy is now going through a difficult period, which began with the onset of the COVID-19 pandemic and was aggravated by the events in Ukraine. “Against their background, logistics chains were interrupted all over the world. Many countries experience inflation. All this cannot bypass our economy. We buy about USD 6 billion worth of goods every year. The dollars that enter the country have previously come from external debt, exports and transfers of migrants. Due to political situations, the volume of transfer of migrants may be reduced,” Temiraliev said. He also noted that exporters are now facing a number of difficulties due to complex supply chains and inflation. For these reasons, states suspend mutual trade, which negatively affects food security. “Neighboring countries do not allow our goods to pass through, and it happens that they do not sell us their own. We need to promote exports, which requires investments. Many understand the activities of large funds as investments, but it must be remembered that they are divided into three groups. These are institutional investors represented by large banks and funds, entrepreneurs who come to the country as tourists and decide to open a business here, as well as states that want to cooperate directly,” Umbriel Temiraliyev explained. He stressed that in order to increase foreign direct investments, it is necessary to create the necessary conditions for investors and provide resources. To do this, it is necessary to work together with government agencies and local entrepreneurs.