Sadyr Japarov - The Times Of Central Asia

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Kazarman Hydropower Cascade

Turkish Company Launches Construction of $3 Billion Hydropower Cascade in Kyrgyzstan

Construction of the Kazarman cascade of hydroelectric power plants on Kyrgyzstan’s Naryn River officially began on June 25, marking one of the country’s largest energy infrastructure projects since independence. The project, located in the Jalal-Abad region, includes three hydropower plants, Ala-Buga, Kara-Bulun-1, and Kara-Bulun-2, with a combined installed capacity of 912 megawatts and expected annual electricity generation of more than 3.75 billion kilowatt-hours. The cascade is being developed under an investment agreement with Orta Asya Investment Holding, a subsidiary of Turkey’s İhlas Holding, with total investments estimated at $3 billion. At the official launch ceremony, Kyrgyz President Sadyr Japarov described the Kazarman cascade as one of the largest energy projects in the country’s modern history. Japarov said Kyrgyzstan is accelerating hydropower and renewable energy development to strengthen energy security and reduce dependence on electricity imports. “Without developing the electric power industry, it is impossible to ensure the country’s sustainable development,” Japarov said. He noted that Kyrgyzstan imported about 3 billion kWh of electricity during winter in 2020, a figure that has now risen to 4 billion kWh, reflecting growing domestic demand. According to Japarov, electricity consumption continues to outpace new generation capacity despite ongoing construction of small and medium-sized hydropower plants, as well as solar and wind energy facilities. The president said the increase in demand is driven by rapid industrial expansion, with hundreds of new factories and social infrastructure facilities commissioned annually in recent years. Construction of the Kazarman cascade is scheduled for completion by 2031. Japarov said that once the Kazarman cascade and the strategic Kambarata-1 Hydropower Plant become operational, Kyrgyzstan expects to fully cover domestic electricity demand and begin exporting surplus energy to neighboring countries. Kambarata-1, which is being developed jointly with Kazakhstan and Uzbekistan, will have an installed capacity of 1,860 MW and annual generation of 5.6 billion kWh. In addition to the Kazarman project, İhlas Holding is also involved in building a 250 MW gas-fired combined heat and power plant in Bishkek. The company is further expanding its energy footprint in Kyrgyzstan through the Suusamyr-Kokomeren hydropower cascade, for which the Eurasian Development Bank and Orta Asya Investment Holding signed a feasibility study agreement in September 2025. That project will include three hydropower plants with a combined capacity of 1,305 MW. Under the agreements, Orta Asya Investment Holding will operate the facilities for 20 years, while Kyrgyzstan guarantees the purchase of the generated electricity.

Government Securities

Kyrgyzstan’s President Urges Citizens to Invest in Government Securities

President Sadyr Japarov has called on citizens of Kyrgyzstan to invest in government securities, describing them as one of the country’s most reliable investment instruments because they are backed by the state. In a statement on his Facebook page, Japarov announced what he described as “an important initiative that will allow every citizen to improve their financial situation while contributing to the development of Kyrgyzstan.” The Cabinet of Ministers has made government securities available to the public with an annual interest rate of 17%, according to Japarov. The securities can be purchased through a mobile app, he said. Invested funds will be repaid in full after two years, with interest payments made every three months. Japarov said returns on government securities would exceed those offered by most bank deposits. Deposit rates at commercial banks in Kyrgyzstan generally range from around 10% to 14% per year for deposits in the national currency, depending on the bank and product. Some microfinance organizations offer higher rates. Two types of government securities are available through the Kyrgyz Stock Exchange: state treasury bills and state treasury bonds. The National Bank of the Kyrgyz Republic also publishes auction results for government securities, with recent state treasury bond yields ranging from 12.86% to 16%, depending on maturity. Government securities are issued to finance national projects, cover budget deficits, and refinance maturing government debt.

Bloggers

Kyrgyzstan Proposes Blogger Tax Breaks as Kazakhstan Tightens Scrutiny

Kyrgyzstan and Kazakhstan are taking sharply different approaches to the growing influence of bloggers. In Bishkek, President Sadyr Japarov has signed a decree calling for tax incentives for the IT sector, startups and creative industries, including bloggers, a move that has sparked criticism even from content creators themselves. In Astana, meanwhile, authorities are intensifying scrutiny of influencers’ income and using criminal law in high-profile cases involving online figures. Kazakh tax authorities have continued scrutinizing the earnings of popular bloggers, alongside high-profile enforcement cases. In addition, journalists and other online voices in Kazakhstan have faced prosecution under Article 274 of the Criminal Code, which concerns the dissemination of knowingly false information and carries the possibility of a prison sentence. Japarov’s Tax Initiative Sparks Debate Kyrgyz President Sadyr Japarov’s initiative to introduce tax breaks for the IT sector, startups, and representatives of the creative industries has sparked broad public debate. The decree, signed on June 12 and titled “On Measures to Improve the Tax System and Tax Administration,” calls for broad changes to tax legislation, including five-year tax holidays for several categories of business. Under the decree, companies and entrepreneurs working in software development, information systems, and artificial intelligence may be exempt from number of taxes for five years. The proposed benefits would also extend to startups, outsourcing companies, producers of film, video and television content, bloggers, remote employees of foreign companies, and other creative-industry workers. Under the same preferential regime, authorities also plan to set income tax at 5% and social security contributions at 12% of the average monthly wage for these categories. Kyrgyzstan’s State Tax Service says the new measure will help position the country as a regional center for IT and creative industries, including artificial intelligence. The agency expects the tax incentives to attract investment, stimulate the creation of new startups and increase exports of digital services. Supporters of the initiative argue that reducing the tax burden could provide an important boost for young entrepreneurs and technology companies, allowing them to direct more resources toward product development, the introduction of new technologies, and improved competitiveness. Authorities also hope the measure will help retain young specialists in the country and make Kyrgyzstan more attractive to international companies. At the same time, the proposal has drawn criticism, particularly over the inclusion of bloggers among those eligible for tax benefits. Social media users have questioned why the state is granting tax breaks to content creators while doctors, teachers, and other socially important professions continue to pay taxes in full. Kyrgyz blogger and entrepreneur Ilim Karypbekov has publicly opposed exempting bloggers from taxes. He said content creators earning money from advertising should pay taxes on the same basis as other entrepreneurs. Karypbekov said he supports tax incentives for the IT sector but believes it is a mistake to extend them to bloggers. “If I earned 100 soms, I would give four soms to the state. That is a very small amount,” Karypbekov said, adding that many popular bloggers generate substantial advertising revenue and...

Border disputes

UN General Assembly Adopts Kyrgyzstan-Led Resolution on Border Disputes

On May 20, the United Nations General Assembly adopted by consensus a Kyrgyzstan-backed resolution titled “Peaceful Settlement of Border Disputes,” Kyrgyzstan’s Foreign Ministry announced. More than 40 countries co-sponsored the document. The resolution was presented by Kyrgyzstan jointly with Tajikistan and Uzbekistan. According to the ministry, the main purpose of the resolution is to share with the international community the historic achievement of the three Central Asian countries in resolving border disputes through peaceful means, including dialogue and negotiations, in accordance with the UN Charter and international law. The resolution proposes what Kyrgyz officials described as a simple and universal principle: when states face border disputes, the way forward should be peaceful, lawful, and based on dialogue. According to the ministry, the Central Asian achievements highlighted in the resolution offer the international community an example of good-neighborly relations and peaceful dispute resolution. The adoption of the resolution is another confirmation of the ability of Kyrgyzstan and its neighbors to peacefully resolve complex issues that had remained unsettled for decades, the ministry stated. Kyrgyzstan, Tajikistan, and Uzbekistan have recently resolved long-standing border delimitation disputes in the Ferghana Valley inherited after the collapse of the Soviet Union. During a summit in Khujand, northern Tajikistan, on March 31, 2025, Kyrgyzstan’s President Sadyr Japarov, Tajikistan’s President Emomali Rahmon, and Uzbekistan’s President Shavkat Mirziyoyev signed a historic agreement on the junction point of the three countries’ state borders, effectively ending decades-long territorial disputes. The three leaders also inaugurated the Friendship Stele, marking the exact point where the borders of the three countries meet. The monument symbolizes friendship among the three nations, the resolution of long-standing border issues, and a new stage of regional cooperation. The Times of Central Asia previously reported on Kyrgyzstan’s initiative to establish the Dostuk (Friendship) International Trade and Economic Park jointly with Tajikistan and Uzbekistan in the border area where the three countries meet. The proposed project is expected to increase cross-border trade, attract investment, and create new economic opportunities across the region.

UN Security Council

Japarov Calls for Support of Kyrgyzstan’s Bid for UN Security Council Seat

Kyrgyz President Sadyr Japarov has called on world leaders to support Kyrgyzstan’s candidacy in the election for non-permanent members of the United Nations Security Council, scheduled for June 3, 2026, for the 2027-2028 term. In a statement published on his Facebook page, Japarov said Kyrgyzstan has the backing of the other Central Asian countries and is prepared to promote “pragmatic and depoliticized solutions” on the international stage. According to the president, the underrepresentation of small, developing, and landlocked countries in the Security Council “undermines the sustainability of the entire architecture of collective security.” “This is not a political preference but an objective necessity,” Japarov said. He argued that intensifying geopolitical competition, the erosion of universal international law, and ongoing armed conflicts in Europe, Africa, and the Middle East continue to test the resilience of the international system. “More than $3 trillion is spent annually on military conflicts worldwide. These resources could provide humanity with a decent life. If these expenditures were directed toward greening the planet and eradicating hunger, our world could become a flourishing garden,” the Kyrgyz leader said. Japarov emphasized that Kyrgyzstan is not part of military blocs and does not participate in confrontational geopolitical formats, which he said allows the country to maintain a “balanced, independent, and pragmatic position” on international issues. The president also highlighted Kyrgyzstan’s peaceful settlement of border delimitation issues with neighboring states, describing it as an example of how even highly sensitive security disputes can be resolved through negotiations. Japarov devoted particular attention to Kyrgyzstan’s work within the UN Human Rights Council, to which the country has been elected three times. According to him, Bishkek continues efforts to strengthen democracy, human rights, and the rule of law. The claim comes amid continued scrutiny of Kyrgyzstan’s domestic political trajectory. International observers and rights groups have raised concerns in recent years over pressure on independent media, civil society, and opposition figures, while the authorities have argued that tighter regulation is needed to protect stability and national interests. Japarov also pointed to the introduction of quotas for women, youth, ethnic minorities, and people with disabilities under amendments to the law “On the Election of the President of the Kyrgyz Republic and Deputies of the Jogorku Kenesh,” adopted in 2025. Japarov claimed that Kyrgyzstan ranks first in the world for women’s parliamentary representation. However, Inter-Parliamentary Union data shows that Kyrgyzstan has 30 women in its 90-seat parliament, or 33.3% of deputies. The IPU has instead identified Kyrgyzstan as recording the largest increase in women’s parliamentary representation among countries that held parliamentary renewals in 2025. The president stressed that Kyrgyzstan remains committed to the principles of non-proliferation and disarmament and, if elected to the Security Council, would promote preventive diplomacy, mediation mechanisms, nuclear disarmament, and addressing the growing nexus between climate and security issues. Japarov noted that Kyrgyzstan was among the initiators of the Central Asian Nuclear-Weapon-Free Zone and signed the Treaty on the Prohibition of Nuclear Weapons in 2025. He also said Bishkek intends to devote particular...

Dostuk International Trade and Economic Park

Trade and Economic Park Planned at Border of Kyrgyzstan, Tajikistan, and Uzbekistan

On May 6, Kyrgyz President Sadyr Japarov visited the Dostuk Stele (Friendship) in the country’s southwestern Batken region, erected at the junction point of the state borders of Kyrgyzstan, Tajikistan, and Uzbekistan, where he reviewed the concept and master plan for the proposed Dostuk International Trade and Economic Park. During a summit in the northern Tajik city of Khujand on March 31, 2025, Presidents Sadyr Japarov of Kyrgyzstan, Emomali Rahmon of Tajikistan, and Shavkat Mirziyoyev of Uzbekistan signed a historic agreement on the junction point of the three countries’ state borders. The leaders also took part in a remote inauguration ceremony for the Friendship Stele, which marks the exact location where the borders of the three countries meet and symbolizes friendship among the three nations, the resolution of long-standing border issues, and a new stage of regional cooperation. The planned Dostuk International Trade and Economic Park would span 100 hectares and include administrative, tourism, logistics, production, commercial, and recreational zones. The project aims to strengthen trade and logistics links, attract investment, and create new economic opportunities. If implemented, the project is expected to create more than 5,000 jobs and increase cross-border trade. The concept also includes the development of tourism infrastructure and the organization of international cultural events, ethnic festivals, and exhibitions, contributing to stronger cultural and humanitarian ties while promoting the historical heritage of the Silk Road. Japarov said good-neighborly relations among Kyrgyzstan, Tajikistan, and Uzbekistan remain important, citing the role of joint infrastructure and economic initiatives in regional stability and sustainable development. He also expressed confidence that, with mutual support from the three neighboring countries, the project could become a major platform for trade and investment, as well as a symbol of peace, trust, and unity among the peoples of Central Asia.