Kyrgyzstan Promotes Investment in Mineral Resources
On June 19, Bishkek hosted the 10th mining and geological forum “MINEX Central Asia” with the participation of over 100 companies from 22 countries of Central Asia, Europe, China, North America, and the Middle East. Addressing the forum, Chairman of the Cabinet of Ministers of the Kyrgyz Republic Akylbek Japarov reported that 95% of the territory of Kyrgyzstan consists of mountains, the depths of which are rich in minerals, not only gold and coal, but also iron (one section of one deposit alone, contains over 5 billion tons of ore), titanium, and high in demand rare earth metals such as europium, zirconium, cesium, and group of lanthanides. Citing examples, the prime minister said that the predicted reserves of titanomagnetite in just one area of the Kyzyl-Ompol deposit, amount to some 20 million tons, and the reserves of rare earth metals, including more than 21 elements, at Kutessay-2 deposit, to around 60 thousand tons. “These reserves were recorded more than 50 years ago, and there is an opinion among authoritative geologists and scientists that these figures could increase significantly following more detailed geological exploration using new technological solutions. We invite partners to engage in joint geological exploration and are seeking investors in this promising sector of the economy – mining,” explained Japarov. Regarding Kyrgyzstan’s current climate, which ultimately determines its attraction to investors, he stated: “Political stability has been achieved through the improvement of our country’s economic situation. We have achieved a sharp reduction in the shadow economy, an increase in tax revenues and customs duties and, accordingly, an increase in wages for teachers, medical doctors, cultural workers, an increase in the [economic] activity of impoverished citizens, and a tough fight against corruption and crime. As a result, 82% of the population supports the course set by the country's leadership, headed by the President; a fact substantiated by the International Republican Institute (IRI).” In conclusion, he remarked, “Our people are experiencing improvements across the board – and after- three revolutions, we are focused on creating a better economy for our country.”
