Economic week of Kyrgyzstan – July 15 – 21, 2019

Shadow economy. The size of the shadow economy of Kyrgyzstan makes 23% of the country's GDP.
According to unofficial data, the size of the shadow economy is about 30-40%, Deputy Minister of Economy of the Kyrgyz Republic Avtandil Alybayev said.
At the same time, he said that digital technologies are being introduced to remove the economy from the shadows.
"For example, the electronic tax fiscalization system removes a certain part of the shadow. There is also a state program to increase non-cash payments implemented by the National Bank and the government," he explained.
New businesses. 108 enterprises have been commissioned in Kyrgyzstan since the beginning of 2019. This allowed the creation of almost 1.5 thousand jobs.
According to data of the Ministry of Economy of the Kyrgyz Republic, the largest part of the enterprises created is in Osh oblast - 30, Batken oblast - 23, Naryn - 15.
Among the 108 enterprises in almost all areas there are large ones.
Thus, one of the largest enterprises in Chui Oblast is a paper mill in Shopokov, a sewing knitwear factory and a plant for the manufacture of concrete products.
In Naryn oblast, enterprises for the production of ready-mixed concrete, for the production of food products, and for the processing of food products have been opened. In Issyk-Kul Oblast, a cemetery factory, a workshop for the production of felt products, has been created.
Business with Korea. This week, Prime Minister of the Republic of Korea Lee Nak-yon paid the first official visit Kyrgyzstan in the history of bilateral relations. Together with him, representatives of South Korean business arrived in Kyrgyzstan, who held a joint forum with Kyrgyz businessmen with the participation of Heads of Government of the two countries.
"I believe that the result of the Kyrgyz-Korean business forum will be mutually beneficial long-term agreements in the future," said Kyrgyz Prime Minister Mukhammedkalyi Abylgaziev at the Kyrgyzstan-South Korea forum organized during the first official visit of the South Korean Prime Minister to Bishkek.
He noted that, this forum is a significant event in strengthening the trade and economic relations between the two countries.
"The President of the Kyrgyz Republic declared this year the Year of Regional Development and Digitalization, in this regard, we are interested in adopting from Korea a successful model of agricultural development, regional development, digitalization, green economy and public health," he said.
Abylgaziev expressed confidence that My Village project, which is launched in Kyrgyzstan will be a great impetus to the development of Kyrgyz villages.
"I believe that within the framework of this forum productive negotiations between the business of the two countries will take place today. I also believe that as a result of these negotiations in the future we will reach mutually beneficial agreements," he said.
The prime minister noted that the participation of the heads of government of the two countries in this forum shows the commitment of the two governments to strengthening trade and economic ties between them.
In conclusion, Abylgaziyev expressed the hope that Kyrgyz-Korean relations in the future will develop dynamically and progress.
Two agreements with the Koreans. This week, two documents were signed at the Kyrgyz-Korean business forum.
"This business forum and the first official visit of Korean Prime Minister Lee Nak-yon to Kyrgyzstan and an impressive delegation of more than 120 representatives of the company are inspiring. We hope for practical results of the visit. Only today, two documents were signed: the construction of an enterprise for the production of fiber-optic cables, which is a good basis for the development of Internet communications and computer technologies in Kyrgyzstan and the development of resort services (SPA tourism). We know what achievements Korea has achieved in medicine. Now we already have good examples in Issyk-Kul. Ophthalmologists and other areas work there. This document will contribute to the development of tourism in Kyrgyzstan," said VicePresident of the Chamber of Commerce of the Kyrgyz Republic Amangeldy Davletaliev.
To Kuwait market. The Embassy of the Kyrgyz Republic in the State of Kuwait, in the framework of promoting domestic products, held a festival of fresh fruits and berries grown in Kyrgyzstan.
The presentation and tasting of fruits and berries were organized in the embassy building. The fragrant aroma of melon and raspberry, bean salads, sweet apricots and dried apricots, herbal tea and apple and pear sherbet, as well as Kyrgyz cheese decorated the table.
The specified products were delivered fresh from Kyrgyzstan. During the fruit demonstration, Kuwaiti importers showed interest in Kyrgyz products. A number of heads of diplomatic missions, fruit importing companies, management of the Lulu hypermarket shopping center network and B2B Foodstuff Company WLL, wholesalers, airlines (Jazeera airways, AirArabia), mass media representatives and famous bloggers were invited to the festival.
KOICA and projects. In the near future, the Korean International Cooperation Agency (KOICA) intends to launch another 4 projects in Kyrgyzstan worth USD 20.5 million.
Prime Minister of the Kyrgyz Republic Mukhammedkalyi Abylgaziev,following talks with South Korean Prime Minister Lee Nak-yon, said that they discussed issues related to the support of the Korean side in the implementation of digital technologies and support for the regions of Kyrgyzstan.
"In this regard, I would like to thank the Korean side, including the Korean agency KOICA, for their intention to allocate a grant for the modernization of electronic public services through the system of interdepartmental electronic interaction "Tunduk". In addition, today we are planning to officially open another important joint project for the development of regions of Kyrgyzstan through KOICA. This is the project "My Village", which at one time gave a significant impetus to the development and was the mainstay of all of South Korea," said Abylgaziev.
Trade with Kazakhstan. This week a scheme was announced that on electricity trade between Kyrgyzstan and Kazakhstan. According to this scheme, the supply of electricity from Kyrgyzstan to Kazakhstan is made in the period from July to August 2019 in a total volume of up to 270 million kWh, and then the received amount of electricity from Kazakhstan is returned to Kyrgyzstan from September 1 to November 30, 2019.
Such a scheme of relations between the countries is due to the high demand of water in the southern regions of Kazakhstan in the hottest period of the year, when agricultural producers are in dire need of irrigation water.
Electricity supplies in the framework of the exchange of goods began on July 6, 2019 as part of the 8th Kyrgyz-Kazakh Intergovernmental Council.
Kabar News Agency