Vice Prime Minister Askarov: Improving investment climate led to increase in investment

Bishkek, May 31, 2019. /Kabar/. Deputy Prime Minister of the Kyrgyz Republic Zamirbek Askarov took part in the opening of the European Bank for Reconstruction and Development (EBRD) Investment Forum.
In his speech, Zamirbek Askarov noted the role and place of the EBRD in the development of small and medium-sized businesses, the press service of the Government reported.
"The Government, together with the EBRD, has carried out significant work to develop entrepreneurship in the country, an important outcome of which is the establishment of the Business Ombudsman. The EBRD supports the activities of the Business Development and Investment Council under the Government of the Kyrgyz Republic, which is an effective platform for public-private dialogue and creates conditions for joint work to address the problems of entrepreneurs and develop measures to improve the business climate," he said.
"Inflow of foreign direct investments in the Kyrgyz Republic amounted to USD 851.7 million in 2018 and increased by 38.1% compared to 2017. At the same time, the inflow exceeded the outflow level by $ 144.2 million. And this is against the background of the decline in foreign direct investment in the world by 19%. The outflow of foreign direct investment in 2018 decreased by 2.3% compared to 2017. This is a very good indicator," the deputy prime minister said.
Zamirbek Askarov voiced positive results of the current activities to improve the investment climate of the Kyrgyz Government.
The EBRD has invested almost USD 700 million in the Kyrgyz Republic within the framework of 170 projects in different sectors of economy since the beginning of its activity in 1993.
The amount of projects currently being implemented is EUR 176 million, 71 projects implemented.