Kyrgyzstan Seeks Investment in Energy

photo: gov.kg

On June 10, The Kyrgyz Republic International Energy Investment Forum, organized by the Cabinet of Ministers of the Kyrgyz Republic with support from the World Bank Group and the Government of Austria, opened in Vienna.

In his address to representatives of international financial organizations, delegations from Central Asian, European, and Middle East countries, and private investors, Chairman of the Cabinet of Ministers of the Kyrgyz Republic Akylbek Japarov emphasized the importance of discussions on the construction of Kambarata HPP-1 not only for Kyrgyzstan but also for the entire Central Asian region.

Japarov then presented a paper on “Economic prospects and investment climate in the Kyrgyz Republic,” in which he stated, “In recent years, the economic growth of Kyrgyzstan has broken all records and demonstrated exceptionally sustainable development. The average GDP growth rate was 7%. And in the first quarter of 2024, the rate of economic growth accelerated to 8.8%.”

Referencing the country’s “period of revival” in its energy sector, he continued, “Tariffs are being reviewed and better conditions provided in the form of benefits and preferences for investors. The implementation of more than 50 renewable energy projects has begun throughout the country. The state, on its own, has built and recently launched the Bala-Saruu hydroelectric power plant, which will provide electricity to the [country’s north-western] Talas region.”

The head of the Cabinet of Ministers called on all international organizations to collaborate in implementing projects in the Kyrgyz energy sector especially the large-scale construction of Kambarata HPP-1 and stressed, “I am deeply convinced that through joint efforts the largest hydroelectric power plant in the region will be built and new horizons for green energy will open in the Central Asian region.”

Japarov also touched upon Kyrgyzstan’s tourist potential and with regard to winter sports, announced:

“We are starting the construction of a Kyrgyz Courchevel. The French company S3V, one of the first operators of the world- famous resort of Courchevel, is implementing the Three Peaks ski cluster in Kyrgyzstan with plans for around 200 km of ski slopes. The resort will operate all year round and able to receive up to 850 thousand tourists annually, will become the largest in Central Asia. In addition, we are launching the construction of a resort near Bishkek with a 20-kilometer funicular, which will operate both winter and summer. In winter, it will provide a unique opportunity to ski within a 20-minute drive from the capital, Bishkek. All technical structures will be built by the Austrian company Doppel Maier.”

 

 

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Times of Central Asia