Kyrgyzstan’s economic week Apr, 15-20, 2019

Promoting Economic Diversification Program has been discussed at a meeting of Minister of Economy of the Kyrgyz Republic Oleg Pankratov with the mission of the Asian Development Bank headed by economist Laisias Torah.
Within the framework of this program, jointly with the ADB the activities have been identified, after implementation of which Kyrgyzstan is supposed to receive the budget support in the amount of US $ 30 million.
During the meeting, Pankratov noted the positive experience of interaction between the Kyrgyz Republic and the ADB during more than twenty years of cooperation. ADB is one of the main international financial institutions that provides credit, grant and technical assistance to the Kyrgyz Republic.
Laisias Torah said that since the beginning of the program to promote economic diversification, significant work has been done. He also informed that in September of this year, a meeting of the Board of Directors of ADB is planned, at which the implementation of this program will be reviewed.
Agreements with Germans. Pospects for bilateral business ties were discussed this week at the Kyrgyz-German business forum in Munich, The President of the Kyrgyz Republic Sooronbay Jeenbekov took part in it and delivered a speech.
As a result of the business forum, 11 bilateral documents were signed between business companies of the Kyrgyz Republic and Germany concerning cooperation in the areas of attracting investment, tourism development, the textile industry, education, energy and industry, etc.
German grant. Germany will provide grant assistance for the construction of hospitals in Kyrgyzstan. This became known during the official visit of the President of Kyrgyzstan Sooronbay Jeenbekov to Germany. During the visit, packages of bilateral documents were signed aimed at strengthening cooperation in the field of diplomatic relations, the economy and industry, agriculture and the agro-industrial complex, education, development of tourism and trade and economic relations, in the financial sphere.
In particular, Minister of Finance of the Kyrgyz Republic Baktygul Zheenbayeva signed 3 agreements totaling 21 million euro.
"According to the signed agreements, a perinatal hospital in Osh will be built for 13 million euro, and a perinatal hospital in Talas, for 6 million euro. Also, an additional 2 million euro have been allocated to the Bishkek Perinatal Hospital under construction," noted Zheenbaeva.
Patent online. Since introduction of the new service by the State Tax Service during the period of the from Oct. 2018 to Apr. 10, 2019 - 14 thousand 945 taxpayers acquired a patent for economic activity in electronic form through the website of the tax service.
The State Tax Service of the Kyrgyz Republic began issuing a patent in electronic form through the website of the department throughout the country from Oct. 1, 2018.
Salaries in the Kyrgyz Republic. In Kyrgyzstan, the monthly salary of employees of private organizations is 1.8 times higher than the income of specialists from budget organizations.
According to data of the National Statistics Committee of the Kyrgyz Republic, in January-February of this year, the average monthly nominal wage per employee (excluding small enterprises) was 15,226 soms, and increased by 4.6% compared to the same period last year. Based on the official exchange rate set by the National Bank of the Kyrgyz Republic, this amounted to $ 218.1.
"A brief analysis of the average wage in the CIS countries shows that the level of wages in US dollars in the Kyrgyz Republic is lower than in other countries. For example, 3 times less than in Russia, 2 times less than in Kazakhstan and Belarus, 1.5 times less than in Armenia. Thus, Kyrgyzstan takes the last place in terms of average wages among the EAEU countries," the committee said.
Trade with Afghans. Kyrgyzstan and Afghanistan create a joint intergovernmental commission on trade and economic cooperation.
This became known as a result of the visit of Foreign Minister of the Islamic Republic of Afghanistan Salahuddin Rabbani to Kyrgyzstan. An agreement was signed on the establishment of a joint intergovernmental Kyrgyz-Afghan commission on trade and economic cooperation between the two governments.
From the Kyrgyz side, this Agreement was signed by the Minister of Economy of the Kyrgyz Republic Oleg Pankratov, from the Afghan side - by the Minister of Foreign Affairs Salahuddin Rabbani.
New in Rosinbank. Rosinbank OJSC will become a specialized bank focused mainly on lending infrastructure, communications and housing.
Chairman of the National Bank of the Kyrgyz Republic Tolkunbek Abdygulov said that the authorized capital of Rosinbank will be increased by an additional 3 billion soms for this purpose.
"This decision was made by the National Bank as part of the improvement of the bank’s activities. After capitalization, the share of the National Bank in Rosinbank OJSC will be 95%. This event completes the process of rehabilitation of Rosinbank. The specialization of the bank’s activities will make it possible to increase the population’s access to banking and financial services," he said.
Agro-cooperation with Turkey. Kyrgyzstan and Turkey intend to develop cooperation in the field of agriculture.
This became known during a meeting of the leadership of the Ministry of Agriculture of the Kyrgyz Republic with representatives of the Ministry of Agriculture and Forestry of Turkey, as well as with Vice President of the Turkish Agency for Cooperation and Coordination TIKA in the Kyrgyz Republic Rahman Nurdun and program coordinator Ali Muslu.
At the meeting, the sides discussed projects of cooperation and exchange of experience in the development of cooperation, crop production, development of livestock breeding, the introduction of advanced technologies, as well as issues of import and export of agricultural products.
Vice President of TIKA in the Kyrgyz Republic Rahman Nurdun noted that Turkey can assist in the implementation of the projects mentioned above, as well as help in training farmers and peasants of Kyrgyzstan to apply modern technologies and increase yields.
Guarantee fund in work. In 2018, the Guarantee Fund Open Joint-Stock Company provided substantial support to small and medium-sized businesses, providing a total of guarantees in the amount of 507 million soms.
Thanks to the guarantees, 1 thousand 225 new jobs were created, 5,887 active jobs were supported. Export-oriented and import-substituting projects issued 48 guarantees for 141 million soms. Women entrepreneurs issued 196 guarantees worth 224 million soms.
Kabar News Agency