English | 中文版 |  Русский

Breaking News:

kyrgyzstan

editor picks 

Editor PicksView All

kyrgyzstan

Kyrgyzstan Constituents Visits Japan

Recently Kyrgyz companies as follows Akun, CardEx, Tumar Art Group and Studio of Tatyana Vorotnikova arrived in Tokyo to study Japanese experience and meet with potential business partners.

Recently Kyrgyz companies as follows Akun, CardEx, Tumar Art Group and Studio of Tatyana Vorotnikova arrived in Tokyo to study Japanese experience and meet with potential business partners. Representatives of the Ministry of Economy, Trade and Industry, Japanese foreign trade organization (JETRO), Japanese trade association Russia and CIS (ROTOBO), Japanese agency of international cooperation (JICA), Japanese businessmen all met with the Kyrgyz constituents. The visit and meetings comes as Kyrgyzstan and Japan seek to strengthen trade relations and look to create an investment sphere.

read source article

editor picks 

Other Important News In Kyrgyzstan


Industrial Output Down 25 Percent

The latest report from the National Statistics Committee shows that the industrial production sector in Kyrgyzstan is crashing.

The latest report from the National Statistics Committee shows that the industrial production sector in Kyrgyzstan is crashing. This is based on statistics for the first two months of 2009. The data released stated that during the months of January-February industrial output contracted by 25 percent compared to the same period in 2008. The gross domestic product also declined at an estimated rate of 1.1 percent. The official inflation rate stands at 0.8 percent for the same period. The Commonwealth of Independent States (CIS) last month forecasted that consumer prices would increase by at least 13 percent.

read source article

Muddied Look to Kyrgyz Power Deal

Russia looks to inject large amounts of money into Kyrgyzstan's power industry to relieve the energy shortages that constantly mars the Central Asian state.

Russia looks to inject large amounts of money into Kyrgyzstan's power industry to relieve the energy shortages that constantly mars the Central Asian state. The Kyrgyz President, Kurmanbek Bakiev, signed a $1.7 billion deal where the Russian state will invest in a hydroelectric scheme called Kambarata-1. The Kambarata will generate 6.1 billion kilowatt-hours of electricity a year. The scheme is aimed to produce enough energy to give Kyrgyzstan a surplus and turn it into an exporter of electricity. Some of the surplus energy will most likely be exported to Russia.

read source article

Korea to Plan Kyrgyzstan State IT Net

Korea shall assist Kyrgyzstan in setting up an e-government system to increase the country's administrative efficiency and business environment

Korea shall assist Kyrgyzstan in setting up an e-government system to increase the country's administrative efficiency and business environment. The agreement shall be signed in the capital of Kyrgyzstan, Bishkek, on Tuesday. The plan will be implemented by May. E-government refers to the use of IT networks to enhance public services and interaction with citizens and businesses. Korea is believed to shell out $220,700 to help establish the e-government system. Kyrgyzstan continues to establish and advance in its IT sector. Korea's e-government system has been highly regarded by international organizations.

read source article

Kyrgyzstan: to Give, it Seems the Kremlin Must First Take Away

In order to fill a promise to Kyrgyzstan, Russia's Kremlin is looking to take away $2 billion from an anonymous ally.

In order to fill a promise to Kyrgyzstan, Russia's Kremlin is looking to take away $2 billion from an anonymous ally. The aid was agreed upon on February 3, shortly after Kyrgyzstan voted to close Manas, a base currently used by US troops. Russia two legislative champers, the Duma and the Federation Council, adopted the amendments to the state budget to allow Kremlin to fulfill his $2.15 billion promise. President Dmitry Medvedev signed the bill on February 26. The aid is still being provided despite Russia being amongst the countries hit hardest by the global financial crisis. It is believed that in order for Russia to grant aid, many already approved programs shall suffer the consequences of this aid package.

read source article

Japanese, Kyrgyz Business People Meet in Bishkek

During a Kyrgyz-Japanese business forum held in February, participants stated that there is potential for trade and economic relations that has not been fully exploited.

During a Kyrgyz-Japanese business forum held in February, participants stated that there is potential for trade and economic relations that has not been fully exploited. Kyrgyzstan is not one of Japan's trading partners, trading below the amounts of Kazakhstan, Uzbekistan and Turkmenistan. Over the last three years, the tides have turned where trade turnover between the two nations has increased by 13 times from $2.6 million in 2005 to over $35 million in 2008. The deputy Minister of Economic Development and Trade of Kyrgyzstan, Sanjar Mukanbetov, said that Kyrgyzstan offers various sectors in which foreign investors could invest in. One of the notable outcomes from the forum includes more information exchange required to assist businesses from both nations to find potential partners.

read source article

Mailuu-Suu Electric Bulb Plant Declared Bankrupt

The Regional Court of southern Kyrgyzstan has declared the Mailluu-Suu Electric Bulb Plant (MEBP) bankrupt

The Regional Court of southern Kyrgyzstan has declared the Mailuu-Suu Electric Bulb Plant (MEBP) bankrupt. During 2008, the company had amassed more than 100 million Kyrgyz soms in debt. The plant's salary debt exceeded 45 million soms. MEBP's major stake holders are Russian firms, in particular the International Illumination Engineering Holding. In 2006 MEBP produced 197 million bulbs, of which 53 million went to Russia, other recipients included Iran, Uzbekistan, Turkmenistan, Azerbaijan, Georgia and Mongolia. MEBP's profits mainly came from exports. The plant's failure is in large part due to the rising cost of energy. The closure of the plant also greatly affects the town of Mailuu-Suu, where it is believed the plant practically supported the entire town.

read source article

"AUB Dastan" Branch has Opened its Doors

Asia Universal Bank (AUB) has opened a new branch in Kyrgyzstan - “AUB Dastan” for retail and corporate customers.

Asia Universal Bank (AUB) has opened a new branch in Kyrgyzstan - "AUB Dastan" for retail and corporate customers. Currently, there are about 80 different Bank branches in the nation. AUB continues to support its branch network program. The new branch shall offer clients the same services as the principal office. Some of the services include the use of a payment terminal to pay bills, make remittances in soms and US dollars, currency exchange services, Internet-banking and make bank deposits.

read source article

5000som Banknotes put into Circulation

Kyrgyzstan's National Bank was started to put 5000 som banknotes into circulation.

Kyrgyzstan's National Bank was started to put 5000 som banknotes into circulation. The banknotes shall be put into circulation starting today. The banknotes are decorated with the famous Kyrgyz actor and painter Suimenkul Chokmorov, whilst the reverse side of the note is of the capital Ala-Too. The bank's deputy chairman Zair Chokoev stated that due to economic reasons the creation of the 5000 som banknotes were a necessity. The banknotes also would increase the revenue of the population. The deputy chairman also believes that the issuance of the banknotes will also assist in strengthening the national currency and reduce the share of foreign currency in the country.

read source article

Kyrgyz Finance Ministry: Consolidated Budget Income Hit 2.8bln soms in January

According to Kyrgyzstan's Central Treasury, the cosolidated budget income hit 2.8 billion soms in January.

According to Kyrgyzstan's Central Treasury, the cosolidated budget income hit 2.8 billion soms in January. This comes after a report from the Kyrgyz Finance Minstry on Friday, February 27. In comparison to the same period last year, the budget gained 8.1 percent. The gain of 8.1 percent is a gain of over 209.6million soms. Kyrgyzstan's budget is mostly comprised of tax revenues, which is the main source of the national treasury's replenishment. Overall, the total sum of the tax revenues comes to 2.4 billion soms.

read source article

Russia Amends Budget to Sanction $2 billion Government Loan to Kyrgyzstan

Russia has recently made amendments to a $2 billion government loan to Kyrgyzstan.

Russia has recently made amendments to a $2 billion government loan to Kyrgyzstan. The law stipulating the changes had been passed by the State Duma on February 13, then approved by the Federation Council. Russian President Dmitry Medvedev signed the bill on February 26th. The laws propose a new version of the program to provide the government's financial and export laws. Originally, the two agreements signed between Russia and Kyrgyzstan on the provision of government loans was not included in the federal budget. Russian Deputy Finance Minister Sergei Shatalov states that the amendments would make it easier to implement the agreements between the two countries.

read source article