Kyrgyzstan Business & Economy - The Times Of Central Asia

Viewing results 259 - 264 of 460

USAID Equips Mega Fruit Storage Facility in South Kyrgyzstan

The United States Agency for International Development (USAID) has helped Kyrgyzstan’s Nookat Almasy Cooperative open the largest cold storage facility in the Nookat district of the southern Osh region. Deputy Chairman of the Cabinet of Ministers of the Kyrgyz Republic Bakyt Torobaev and USAID Mission Director in the Kyrgyz Republic Kaya Adams attended the facility’s opening ceremony. As reported by the U.S. Embassy in Kyrgyzstan, the new facility will generate 200 full-time jobs and assist local farmers in marketing and expanding sales of their produce. Thanks to cooling equipment worth $78,400 from USAID, the Nookat Almasy Cooperative’s new facility can now store locally grown apples and raspberries for up to four months. By extending their shelf life and enabling farmers to sell at a higher price when market conditions improve, the enhanced storage will help maintain market stability and ensure a reliable and consistent food supply throughout the year. Since 2018, the U.S. government has helped establish over 20 new cold storage facilities in southern Kyrgyzstan, more than doubling capacity to reach 12,500 tons, decreasing food spoilage by 40%, and creating income-generating activities for over 4,000 local farmers.

Kyrgyzstan Kyrgyzstan Environment Kyrgyzstan Business & Economy

Kyrgyz-Turkish Oil Refinery Nears Completion in South Kyrgyzstan

On July 8, Minister of Energy of the Kyrgyz Republic, Taalaibek Ibraev inspected the construction of the Kyrgyz-Turk K-OilGas oil refinery in the village of Kok-Talaa in the southern Batken region. An agreement between Kyrgyztransneftegaz (Kyrgyzstan) and Kyrgyz-Turk K-OilGas (Turkey) on the joint development of the North Sokh and Chongara Galcha oil fields was signed back in March 2023. According to General Director of Kyrgyztransneftegaz Aibek Chodonov, over 90% of the refinery’s construction has now been completed, and preparatory work is currently underway at four oil wells. The commission of the refinery is scheduled for the end of September. Investment in the project amounts to $91 million, and once in operation, the refinery will have a daily capacity of 500 tons of oil products. At present, the refinery has 51 employees, including 10 Turkish specialists and 41 local citizens, with 150 new jobs on the horizon from October. Kyrgyzstan has some oil deposits in the south of the country but today, imports almost all of its oil products (gasoline and diesel) from Russia.

Central Asia Home Uzbekistan Uzbekistan Features International Affairs Kyrgyzstan Kyrgyzstan International Affairs Kazakhstan International Affairs Uzbekistan Business & Economy Kazakhstan Business & Economy Kazakhstan Business & Economy Kyrgyzstan Business & Economy Features Kyrgyzstan Features Uzbekistan International Affairs Kazakhstan Featurees

Paving the Path Westward: Insights from the Astana and Shusha Summits

The informal OTS summit in Shusha, hosted at the invitation of Ilham Aliyev, centered on the theme of "Building a Sustainable Future through Transportation, Connectivity and Climate Action." Attendees included Presidents Kassym-Jomart Tokayev of Kazakhstan, Sadyr Japarov of Kyrgyzstan, Shavkat Mirziyoyev of Uzbekistan, Ersin Tatar of the Turkish Republic of Northern Cyprus, Prime Minister Viktor Orban of Hungary, and OTS Secretary General Kubanychbek Omuraliev. In place of Erdoğan, who was in Germany supporting the Turkish national soccer team ahead of a crucial Euro 2024 quarter-final against the Netherlands, Vice President Cevdet Yılmaz attended. Turkmen President Serdar Berdimuhamedov was also absent due to hosting UN Secretary-General António Guterres in Ashgabat. Notably, the Shusha summit occurred just two days after the meeting of SCO leaders in Astana, which drew an exceptional amount of attention from international observers due to the participation of the Russian and Chinese leaders. The intrigue surrounding the SCO summit was linked to its closed session, attended only by the Shanghai Ten. At the summit, only the speech delivered by Tokayev was made available to the press. Speeches made in the subsequent SCO+ format sessions were made public, wherein Russian President Vladimir Putin and Chinese President Xi Jinping underscored the need for a multi-polar world, suggesting that the SCO members had discussed shifting away from Western cooperation towards the Global South. At the Shusha summit Aliyev highlighted Azerbaijan's commitment to strengthening ties within the Turkic world, emphasizing the importance of the political, economic, and military consolidation of Turkic States as a global power center. Aliyev stated that Azerbaijan has consistently sought to unite the Turkic world and enhance its influence on the global stage, stressing that the OTS should seek to emerge as a significant global power. "We cover a large geographical space and positive demographic dynamics are observed in the member countries. Our greatest assets are our rich natural resources, modern infrastructure for their delivery, transportation corridors connecting Central Asia and the Caucasus with Mediterranean and Black Sea ports, and our rich and ancient history and culture. The commitment of our people to traditional values and ethnic commonality closely unites our countries. The 21st century should become the century of prosperity of the Turkic world," the Azerbaijani leader emphasized. Aliyev also addressed the primary tasks which lie ahead for the OTS, referencing the Astana Declaration of the SCO, which designates Central Asian republics as the organization's foundation. Leaders of these republics who attended the summit in Shusha, Tokayev, Shavkat Mirziyoyev, and Sadyr Japarov, endorsed Aliyev's call for the expansion of the East-West transport corridor connecting Central Asia and Eurasia to Europe. Aliyev further highlighted the Digital Silk Road project, which aims to establish a fiber-optic telecommunication route between Europe and Asia via the Caspian Sea through Azerbaijan. Furthermore, when the President of Kazakhstan delivered his speech, he stressed the significance of the Trans-Caspian International Transportation Route. "The potential of the Trans-Caspian International Transport Route should be fully utilized. Today, the volume of container transportation along this corridor has...

Uzbekistan Kyrgyzstan Uzbekistan Business & Economy Kyrgyzstan Business & Economy

Kyrgyz-Uzbek Automobile Plant Imports Components from Uzbekistan

On July 5, Chairman of the Cabinet of Ministers of the Kyrgyz Republic, Akylbek Japarov visited the northern Chui region to inspect the Tulpar Motors assembly plant, a joint Kyrgyz-Uzbek enterprise for the manufacture of Chevrolet and Isuzu vehicles. Construction of the plant began in May 2023 and the first car rolled off its assembly line in May 2024. Already in operation, the plant will be officially opened in July-August by the president of Kyrgyzstan. According to plans, within five years, the number of employees at the plant will reach 1,400 and the total investment in the project, will amount to $110 million. During the first year, Uzbekistan’s UzAuto Motors will invest $50 million in the assembly of 10,000 cars, beginning with the Chevrolet Nexia R3. At the initial stage, components will be provided by Uzbekistan but thereafter, will be produced inhouse to enable the Kyrgyz plant's manufacture of some 20,000 vehicles per year. During his visit, the head of the Cabinet of Ministers noted that the cars, trucks, and buses produced by the plant will meet the demand in Kyrgyzstan and be available for export to other Central Asian countries.

Central Asia Home Tajikistan International Affairs Uzbekistan Tajikistan Kyrgyzstan International Affairs Kyrgyzstan Kazakhstan Uzbekistan Business & Economy Kazakhstan International Affairs Kazakhstan Business & Economy Kyrgyzstan Business & Economy Features Kazakhstan Featurees Uzbekistan International Affairs

Tokayev Calls For Expanded SCO to Play Greater Role on Global Stage

A meeting entitled “Strengthening Multilateral Dialogue – Striving for Sustainable Peace and Development” was held to conclude the Shanghai Cooperation Organization summit in Astana on July 4. The meeting was was held in the "SCO Plus" format. and was attended by the leaders of the SCO full member states who participated in the Summit earlier in the day, plus leaders of the organization's observer countries and dialogue partners. These included the UN Secretary-General António Guterres, presidents Recep Tayyip Erdoğan of Turkey and Ilham Aliyev of Azerbaijan, and the Emir of Qatar, Sheikh Tamim bin Hamad Al Thani. The SCO Plus session of the Summit took on greater importance this year, amid suggestions that the alliance is primed to expand next year. Countries interested in joining the SCO as full members include Turkey, Qatar and Egypt. In his speech at the meeting, Kazakhstan's President Kassym-Jomart Tokayev emphasized the role that the SCO can play as a stabilizing force in the international arena. “Today the world is faced with serious challenges caused by unprecedented geopolitical contradictions and growing conflict potential,” said Tokayev. “The international security architecture is under threat, which could lead to dire consequences for all of humanity. In such a fateful period, we are entrusted with a huge responsibility for strengthening peace, stability, and security through collective efforts at the regional and global levels. The Shanghai Cooperation Organization, taking into account its authority, significant economic and human resources, is capable of developing effective solutions to achieve sustainable development goals and overcome modern challenges.” Concerning the role of the United Nations, Tokayev said that its potential is far from being exhausted. “Our common task is to strengthen the role of the UN as the main international institution for ensuring global security, capable of effectively confronting the challenges of the 21st century. The voice of the SCO should and will sound louder in the international arena, promoting a consolidated position on various problems of our time,” he emphasized. In his own speech, Gutteres referred to the SCO as "a valuable partner of the United Nations". With reference to strengthening trade and economic ties, Tokayev said: “At the current stage, the economies of the SCO member countries are demonstrating high growth rates of 4% to 9%. The share of the SCO states in global GDP is 30% already. Today, the foreign trade of the SCO participating countries exceeds $8 trillion, which is equivalent to a quarter of all world trade.” Tokayev emphasized the fact that economic growth in Asia is largely due to the SCO states. On behalf of Kazakhstan, he also welcomed China’s intention to expand access for SCO countries to its market, and increase trade turnover with the SCO member states to $3 trillion. “It is important for us to fully unleash the colossal economic potential of the SCO. The interaction of the SCO with such integration associations as the EAEU, BRICS and ASEAN opens up broad prospects. A powerful driver for sustainable growth in global trade is further strengthening of transport connectivity. More than...

Central Asia Home Kyrgyzstan Life & Culture Kyrgyzstan Local Politics Business & Economy Kyrgyzstan Local Politics Kyrgyzstan Business & Economy Features Kyrgyzstan Features

Kyrgyzstan to Support Female Entrepreneurship

A group of Kyrgyz parliamentary deputies have initiated amendments to the draft law "On the Protection of Entrepreneurs' Rights," which will bow be supplemented with the words "women's entrepreneurship." The amendment states that women make up half of Kyrgyzstan's population, but their contribution to the economy is far less significant. Citing IMF data, the authors of the amendment stated that female entrepreneurship can contribute up to 27% to the republic's GDP. "As experience shows, the level of income from small businesses does not exceed the officially established subsistence minimum, which, unfortunately, does not leave additional funds available for further business development. The data also shows that women entrepreneurs who have better access to assets and can make independent decisions can help reduce poverty," the bill states. Representatives of the women's forum "Kurak," who contributed to drafting the amendments, proposed introducing the term "woman entrepreneur" into the law and defining this as a legal entity wherein a woman owns at least 51% of the shares. They believe this will enable women to receive preferential financing and access state support. "Women entrepreneurs often need more time to run a business. After all, they often raise children and run a household in parallel. It is also tough for a woman to get a loan from a bank because the collateral property belongs to men. Moral support from our patriarchal society and the state is also lacking," human rights activist Ainura Sarynbayeva told The Times of Central Asia. The legislative introduction of the word "woman" and "women's entrepreneurship" will help further develop women's businesses, believes Sarynbayeva, adding that commercial banks and international development institutions are already prepared to provide preferential lending. "Today, there are no countries in Central Asia where the concept of "women's entrepreneurship" is enshrined in the law. The draft law being promoted in Kyrgyzstan is largely similar to the Azerbaijani law. The authorities there support women businessmen at the state level," said Sarynbayeva. According to the latest census, Kyrgyzstan is home to 3.3 million women - half of the country's population. However, despite various training sessions and courses, only a small percentage of Kyrgyz women participate in economic activities. Human rights activists attribute this state of affairs to the haphazard nature of government support. The average Kyrgyz businesswoman is 40-50 years old, has a secondary education, is an individual entrepreneur or manages a small or medium-sized business, and has a family and children.