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  • MALIK ABAKIROV HAD A MEETING WITH REPRESENTATIVES OF THE JAPANESE MISSION

    Cooperation.

    Malik Abakirov, Chairman of the Management Board of OJSC “Guarantee Fund”, met with representatives of the Japanese mission in Kyrgyzstan –Kenji Nakazawa (President of the Eurasian Institute of Industrial Technology) and Mitsuhiro Maeda (President of the Research Institute for Social Ethics).

    Japanese guests arrived on a mission to study SMEs in Kyrgyzstan. It was not the first time when Kenji Nakazawa visited Bishkek; he headed the representative office of the European Bank for Reconstruction and Development in the Kyrgyz Republic for several years.

    Recently, the Government of Japan has been pursuing a policy of cooperation with Central Asian republics, it is research the economic life of the region to enter the local market and markets of neighboring countries.

    During the discussion with Japanese guests, Malik Abakirov acquainted them in detail with the activities on guarantee support for entrepreneurs, assistance in access to finance, and the provision of consulting and other services.

    Kenji Nakazawa and Mitsuhiro Maeda expressed surprise at the pace of development of OJSC “Guarantee Fund”: “What conditions and reasons allowed you to achieve such success in the development of the guarantee system in just 2.5 years of practical activity?

    Malik Abakirov mentioned a number of conditions:

    • The right choice of leader
    • Formation of a strong team of professionals
    • Selection of the optimal model of guarantee funds
    • The combination of the Guarantee model with the financial and banking system of the country
    • Combination of the guarantee fund model with the level of development of SMEs
    • An appropriate level of capitalization of a guarantee fund.

    The head of the fund also emphasized that the Kyrgyz Model of guarantee funds was highly appreciated by ADB and was recommended for implementation in Central Asia and the Caucasus. The Kyrgyz Model of guarantee funds is currently practiced in Tajikistan.

    Kenji Nakazawa and Mitsuhiro Maeda were pleased with the substantial information received, and promised to include it in their report.

    At the end of the meeting, Malik Abakirov presented them with his book “Access to SME Finance: Guarantee Fund”, which also reflects the Japanese experience in supporting SMEs. The Japanese expressed gratitude for the gift and promised to translate the book into English.

    On photo (left to right): Mitsuhiro Maeda, Malik Abakirov, and Kenji Nakazawa.

     

    CHAIRMAN OF THE MANAGEMENT BOARD OF OJSC “GUARANTEE FUND”, MALIK ABAKIROV, PARTICIPATED IN INTERNATIONAL “EURASION WEEK 2019” FORUM

    CHAIRMAN OF THE MANAGEMENT BOARD OF OJSC “GUARANTEE FUND”, MALIK ABAKIROV, PARTICIPATED IN INTERNATIONAL “EURASION WEEK 2019” FORUM

    Forum.

    The IV International Exhibition Forum “Eurasian Week 2019” was held at Ala – Archa state residence from September 25 to 27. Approximately, 2 thousand people from 31 countries participated in the forum. Malik Abakirov also participated in it. The forum participants were welcomed by the Prime Minister of the Kyrgyz Republic, Mukhammedkalyi Abylgaziev and Chairman of the Board of Eurasian Economic Commission, Tigran Sarkisian.

    The forum, in total, held 25 business and five special events, about 350 meetings and negotiations. Topical issues of integration of the EAEU countries, promising areas of development, a single energy market and joint agro-industrial projects were discussed.

    Malik Abakirov about the support for entrepreneurs

    Chairman of the Management Board of OJSC “Guarantee Fund”, Malik Abakirov, spoke at a round table on topic “Financing of small and medium businesses – the driver of economic growth in the Kyrgyz Republic”. He presented information on activities of OJSC “Guarantee Fund”, particularly emphasizing the development and support of SME’s. and the development of bonds between Kyrgyz and Russian partners.

    Conversation with a colleague on fields of the forum

    At a meeting between Malik Abakirov and Nikita Bantsekin, Head of Directorate for International Affairs and a member of the Board of the “SME’s Corporation”, which happened later, the latter expressed interest in establishing cooperation. The conversation touched ways to support entrepreneurship. The head of OJSC “Guarantee Fund” discussed about the practical measures being taken to enhance the financial literacy of entrepreneurs, provide advisory assistance, develop business plans, and participate in the management of enterprises to help increase production and income.

    The ideas of such multifarious support, according to the head of the fund, is to gradually transfer entrepreneurs from the micro-business category to small, from small to medium, from medium to large. OJSC “Guarantee Fund” will assist to bring 50 companies of the Kyrgyz Republic to the level of “Akun”, “Altyn Azhydaar” and others. This will be a great contribution of OJSC “Guarantee Fund” to the development of the Kyrgyz Economy, concluded Malik Abakirov.