Akylbek Japarov, the Prime Minister of Kyrgyzstan, announced at the International Investment Energy Forum in Vienna that the country's economic growth in recent years has been breaking records and demonstrating exceptionally sustainable development.
During the forum, Japarov presented a national presentation titled "Economic Prospects and Investment Climate in the Kyrgyz Republic." He highlighted that the GDP growth rate averaged 7 percent, accelerating to 8.8 percent in the first quarter of 2024.
Moreover, Japarov mentioned that the credit rating agency Moody’s recently upgraded Kyrgyzstan's credit rating outlook from negative to stable, reaffirming the issuer's long-term ratings in both national and foreign currencies at B3 level.
Particular attention was drawn to the energy sector of the republic, described by Japarov as undergoing a period of revival. He emphasized that tariff revisions and improved conditions, such as benefits and preferences for investors, are being implemented. Over 50 renewable energy projects are underway nationwide, including the construction and recent launch of the Balasaryu hydroelectric power station to supply electricity to the Talas region.
Japarov called on international organizations to collaborate on energy projects, especially the large-scale regional project to build the Kambaratinskaya HPP-1 with a capacity of 1,860 megawatts. He expressed confidence that joint efforts would lead to the construction of the largest hydropower plant in the region, opening new horizons for green energy in Central Asia.
In addition to advancements in the energy sector, Kyrgyzstan is implementing new agricultural and water resource management methods, modern technologies, and the construction of world-class laboratories, as highlighted by Japarov.
The Prime Minister also discussed the tourism potential of the republic, revealing plans for the construction of the Kyrgyz Kurshavel. French company S3V - "Es tri vi", known for operating world-renowned resorts, is overseeing the implementation of the "Three Peaks" ski cluster in Kyrgyzstan. The project aims to develop approximately 200 kilometers of ski slopes, operating year-round and accommodating up to 850,000 tourists annually. This initiative is set to become the largest in Central Asia. Additionally, a resort with a 20-kilometer funicular near Bishkek will be launched, offering unique skiing opportunities just a 20-minute drive from the capital. The technical facilities for this project will be constructed by the Austrian firm "Doppel Mayer."
Overall, Kyrgyzstan's robust economic growth, focus on renewable energy, modernization of key sectors, and ambitious tourism projects signal a promising future for the country's development and international partnerships.
