One of the strategic objectives of Kumtor Gold Company is to increase the share of purchases from domestic producers, as reported by the company's press service. In 2023, the company's purchases from Kyrgyz suppliers reached 39% of the total amount of production purchases, compared to 24% in 2022 and only 16% in 2021.
Previously, 75% of purchases were imports, sourced from 33 countries worldwide, with a total of 558 suppliers. Currently, local suppliers provide food products, construction materials, various services, and IT technologies. State companies are also involved in scientific research collaborations.
Through direct contracts with manufacturers and additional discounts, the company saved $15,086,585 last year. Another $6,485,204 was saved through inventory management optimization. In 2023, 62% of all contracts were conducted on a post-payment basis, a significant increase from 45% in 2022.
This shift towards supporting local businesses not only boosts the domestic economy but also enhances the company's cost-efficiency and sustainability.
