The Cabinet approved the program for the development of the food and processing industry in Kyrgyzstan for 2017-2021. The relevant government decree was signed by the Prime Minister of Kyrgyzstan Sooronbay Jeenbekov. The decision was taken in pursuance of the National Strategy for Sustainable Development of the country for 2013-2017, as well as for the…
Microcredit volume in Kyrgyzstan decreased by 5 billion soms in 2016, the National Statistical Committee of the Kyrgyz Republic reported. Last year various microcredit organizations issued loans of 13.3 billion soms. In 2015, this figure was 27.4% more and amounted to 18.3 billion soms. The volume of microcredits in four regions of the country decreased…
Over 200 million payments at 23.8 billion soms were made through payment systems in 2016, the National Bank of Kyrgyzstan reported. It is noted that up to date, six licenses have been issued in the country for the right to conduct transactions with electronic money. At the same time, only three electronic wallets provide their…
Historically important, Uzbekistan’s silk sector has seen structural reforms since independence, attracting foreign investment, upgrading production techniques, and expanding production. Boasting good natural conditions, Uzbekistan has 80 million plants and 51,000 hectares of plantations, producing 26,000 tons of cocoons. The silk sector has been stunted in recent years by falling demand worldwide and outdated production…
The State Tax Service of Kyrgyzstan is preparing anti-corruption amendments to tax legislation, suggesting new categories of taxpayers, the press service of the department reported. As noted, it is planned to introduce new categories – “individual labor activity” and “individual entrepreneurial activity.” This will eliminate the risk of applying corruption measures to them. To reduce…
On March 17, President Shavkat Mirziyoyev signed the resolution ‘On additional favorable conditions for entrepreneurial activity in Karakalpakstan and Khorezm regions’. The resolution aims at boosting economy, supporting entrepreneurs, nudging exports, and implementing investment projects in the two regions. Legal entities registered and doing business in Karakalpakstan and Khorezm are exempt from compulsory sale of…
The State Privatization, Demonopolization, and Competition Development Committee met with the representatives of Germany’s Foreign Ministry to discuss cooperation. The committee has closely worked together with German experts, including Finance Ministry, since 2009, pushing off the Memorandum of Understanding in Privatization and State Property Control. German support helped introduce the Corporate Governance Code in 2016,…