Sadyr Zhaparov urges Kazakhstani investors to invest in Kyrgyzstan

Bishkek, March 3, 2021 / Kabar /. President of Kyrgyzstan Sadyr Zhaparov met today in Nur-Sultan with the business community of Kazakhstan, his press service said. Welcoming the meeting participants, Sadyr Zhaparov noted that Kyrgyzstan and Kazakhstan traditionally maintain close trade and economic ties. The president said that Kazakhstan is one of the key trading partners of Kyrgyzstan and, despite the crisis caused by the coronavirus pandemic, the volume of direct Kazakh investments in 2020 increased by 9%. Sadyr Zhaparov noted that the countries are neighbors, strategic partners not only at the bilateral level, but also within the framework of the Eurasian Economic Union, which provides great opportunities for Kazakh business to implement investment projects in Kyrgyzstan. At the same time, he admitted that the countries are not fully using their trade and economic potential and dwelled on the existing prerequisites for increasing trade. “The President of Kazakhstan, Kassym-Jomart Tokayev, highlighted the need for the implementation of new joint infrastructure projects and the full use of cross-border nodes as one of the priority areas, including within the framework of linking the EAEU with the Belt and Road Initiative. We fully support and express our readiness to use the trade and transit potential of Kyrgyzstan and Kazakhstan through the creation of joint wholesale and logistics complexes with the participation of foreign partners,” Sadyr Zhaparov said. He stressed that Kyrgyzstan is actively working to improve investment and trade policies, work to increase market access and expand sales markets, while creating favorable conditions for doing business and ensuring the protection of the rights of entrepreneurs and investors. The head of state spoke about one of the first decrees aimed at strengthening the protection of the property of entrepreneurs and investors, excluding unjustified state interference in the economic activities of business entities. “We pay special attention to the issue of ensuring the safety of the activities of investment objects and property of investors, eliminating barriers and simplifying the requirements established in the national legislation of the Kyrgyz Republic on investment issues,” the president said. In addition, he noted innovations in the customs and tax spheres aimed at improving the quality and transparency of services provided. The head of state also added that the use of digital technologies in the field of agriculture with elements of e-commerce is starting in Kyrgyzstan to ensure the traceability and safety of agricultural products. Sadyr Japarov called on Kazakhstani entrepreneurs to be more actively involved in the implementation of investment projects in Kyrgyzstan. The event was attended by heads and representatives of several dozen large companies in Kazakhstan.