Kyrgyzstan's economic week Sept. 4-9, 2017

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Kumtor for a good cause. "Ecological payments of Kumtor will be increased by 10 times and make $ 3 million," the newly-appointed Prime Minister of the Kyrgyz Republic Sapar Isakov said during his visit to Kumtor mine. Previously, it was reported that the Kyrgyz Government and Centerra Inc. will sign the corresponding document, which is the first step towards the settlement of the situation around Kumtor mine. "The Government of Kyrgyzstan is primarily interested in solving all environmental issues at the mine," Prime Minister Isakov said. He also added that the Government will direct new funds to solve certain environmental problems of Issyk-Kul Lake and Issyk-Kul oblast.

In addition, there is a reclamation fund of the company. The means of this fund now amount to $ 23 million. Now the company will transferred these funds to Kyrgyzstan. The Prime Minister said that, these funds will work for the Kyrgyz economy by a separate agreement, until the reclamation work is required.

It became known also that in the next 9 years this fund will be replenished up to $ 70 million and these funds will work for the economy of Kyrgyzstan.

In addition, after signing the Agreement with Kyrgyzstan, Centerra voluntarily made a decision to allocate the newly created fund $ 50 million. "And our Government has decided that these funds will be directed to construct waste treatment facilities around Issyk-Kul," Isakov said.

Proposal to Uzbekistan. Uzbek businessmen were invited to enter the markets of the Eurasian Economic Union (EEU) and the European Union through Kyrgyzstan. Minister of Economy of the Kyrgyz Republic Artem Novikov made such a proposal during the Kyrgyz-Uzbek business forum that took place in Bishkek during the historic visit of President of Uzbekistan Shavkat Mirziyoyev to Kyrgyzstan.

The newly-appointed Minister said that, the share of Uzbekistan in the structure of trade turnover of Kyrgyzstan is 4.4%, incl. in exports - 6.6%, imports - 3.6%. The countries intend to bring this year the volume of mutual trade to $ 200 million and in future up to $ 500 million. The leaders of the two countries set such a task.

Help with equipment. The farmers of the village of Kursu, Issyk-Kul oblast, who are engaged in the dairy sector received a milking equipment in the framework of the loan product of the Russian-Kyrgyz Development Fund (RKDF)"Financing of leasing operations through microfinance organizations".

The leasing operation was conducted by the micro-credit agency BT Innovations as part of an agreement with the RKDF, signed in late March 2017.

In Kyrgyzstan, there is a need to provide farmers with access to quality equipment for the production of high-quality milk. According to data of the National Statistics Committee, more than 1.5 million tons of milk is produced in the Kyrgyz Republic, of which only 4% is produced by large enterprises, the rest is produced by private small households that supply consumers with the milk of different quality.

Assistance. The Russian-Kyrgyz Development Fund increased the financing limit for Kaindy-Kant OJSC sugar plant by USD 1.5 million for purchase of additional equipment.

The equipment purchased by the plant - the diffusion apparatus - will increase the capacity of sugar production from 3,000 to 3,500 tons per day. The need to increase the processing capacity is due to a significant increase in the acreage of sugar beet in Kyrgyzstan in 2016-2017.

More than 3,500 farms supply raw materials to the upgraded plant. As a result of implementation of the project, the number of employed in the process of growing sugar beet will increase by 35 thousand people.

Gold from the mine. More than 21 kg of gold was mined at Solton-Sary mine for the first half of 2017, while the plan was 17.4 kg.

Kyrgyzaltyn informs that the extracted gold at the mine exceeded the forecasted figures by almost 21%. Compared with 2016, production at Solton-Sary mine was increased by 12 kg.

Since the beginning of 2017, the mine has increased its ore production, and in the first half of this year, 14.8 tons of ore were mined while the plan was 12.5 tons. This indicates the implementation of the original plan by 118.4%.

Such indicators were achieved due to the launch in June 2017 of the second line, which makes it possible to produce an additional 6 kg of gold per month.

Solton-Sary mine is one of the production branches of Kyrgyzaltyn OJSC and is located in Naryn oblast, 355 km far from Bishkek at an altitude of 3,500-3,600 meters above sea level. 157 employees work at the mine, and their average monthly salary is 21 thousand soms (about $300).

Electronic trade. Shanghai Xietong Group of China made a presentation on electronic commerce at the round table "How to develop electronic commerce in Kyrgyzstan" with the participation of representatives from the Ministry of Economy of the Kyrgyz Republic and the directorate of the Naryn Free Economic Zone.

The company is the largest in the field of providing logistics services, e-commerce, with a turnover of more than $ 500 million. It has the necessary channels for international e-commerce and cooperates with famous brands like Amazon, Alibaba, Aliexpress, Ebay, Wish.

As a result of the roundtable, the Memorandum of Cooperation was signed between the directorate of the Naryn FEZ and the Chinese company.

Kabar News Agency

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