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Kyrgyzstan Review, 10 years ago




[13.03.23] Regions in Anticipation of Investment

Kumtor Operating Company, Makmalgold, Golden Silver and Renton Group are those few to mine gold in Kyrgyzstan while there are 50 legal entities, licensed to extract the precious metal in the country.
 
Representatives of JSC Gazprom (Russia) were surprised to learn that to invest 350 mln dollars into this industry they will have to buy out the license from the companies that own it, but are passive in the market. Such a major investor is now hesitating. Why is Gazprom given a shoulder just when it is determined to make a long-term investment and has a ready program - Gold?
 
The third investment matrix is intended to eliminate such inconsistency. The matrix is now a top priority for all state organizations, government and local elected bodies. According to the Comprehensive Development Framework (CDF), now all state officials are held responsible for creating favorable environment for business activities and promoting investment into the private sector.
 
To provide for its implementation, special work groups have been created overviewed by a supervisory board of state officials, businessmen and experts from the international organizations such as TACIS, Pragma. They are to investigate economic development of the center and regions and define priority industries in need of investment thorough out the country. For instance, Bishkek and Chui oblasts are known as industrial centers and Naryn lives off cattle breeding. Investors are in no rush to get there no infrastructure, no proper conditions. However, our regions wont survive without capital investment.
 
Obviously, internal resources have to be mobilized to level out the discrepancies between the regions and the center.
 
Slovo Kyrgyzstana, March 13, 2003

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