The mayor of Tokmok Zhyrgalbek Shamyraliev supports cooperation with OJSC “GF”

In Tokmok city on September 21, two-day seminar started within the joint project of “Guarantee Fund” and ADB project “Women’s entrepreneurship

 development” which is conducted by specialists of OJSC “Guarantee Fund” Adilet Mamatov and Saltanat Zhaiylova. Attendees of the seminar are women entrepreneurs from Tokmok and surrounding villages. The themes of the seminar were traditional: basic knowledge on financial literacy, income and expenses, their structure, features of business running and administration, business planning, marketing, concept of agreements including loan and collateral, structure of monetary obligation, including principal amount of debt, interests and penalties, deadlines for fulfilment of obligations and responsibility for non-compliance.

On first day of the seminar Adilet Mamatov discussed with attendees of the seminar information on managing personal finance for start-up capital accumulation and capital investment instruments, features of state registration of business and taxes. Then they passed comprehensive theoretical and practical study of entrepreneurship activity.

Guests of the seminar were the mayor of Tokmok Zhyrgalbek Shamyraliev, ADB “Women’s entrepreneurship development” project manager Nurlan Atahanov and the Chairman of the Board of OJSC “Guarantee Fund” Malik Abakirov.

Zhyrgalbek Shamyraliev welcomed attendees of the seminar that today are involved in private business. At the same time, he expressed gratitude to the chairman of the Board of OJSC “Guarantee Fund” Malik Abakirov, who according to his words, applied much effort for creation and promotion of such an important structure on SME support. “Tokmok once was an industrial developed city. Then later it lost its leadership. Now the local authorities are aimed at developing industry and business, creating new conditions.  That’s why I am glad to see here women who are striving to change their life and their families for better,” –  said Zhyrgalbek Zhumadilovich.

He took postwar Europe as an example, particularly the Benelux countries (Belgium, Netherlands, Luxembourg), when it was women who developed light industry and then economy of their countries.

Nurlan Atahanov told about the project “Women’s entrepreneurship development” aimed at increasing financial literacy of women, assisting at creation of own business and expansion of existing business and finally poverty eradication and improving life standards. Statistic data show the low activity of our women in economic sphere, business and entrepreneurship. Especially it concerns rural areas. Our project is aimed at providing necessary financial knowledge, so they could apply it in practice and start own business.

The chairman of the Board of OJSC “GF” Malik Abakirov started his speech by congratulating women with the passed Entrepreneur’s Day. Then he expressed his gratitude to Zhyrgalbek Shamyraliev and Nurlan Atahanov for assisting in organizing the seminar. Two years ago the research was conducted, – said Malik Abakirov, – It showed the level of financial literacy of population. In Kyrgyzstan the level is 24%. In the world it is 70-90%, it concerns many developed countries.

That’s why our objective is to attract capable people to business and for this we should create conditions for obtaining financial knowledge.  Besides, OJSC “GF” is ready to support attendees at all development stages.

“According to forecast of specialists of Guarantee Fund, as minimum, 20% of the total number of the training seminar attendees must take real steps to start own business, expand current production and open new direction of production,”- said Malik Abakirov.

Malik Abakirov reported that he had conversation with the mayor of Tokmok Zhyrgalbek Shamyraliev about cooperation on OROE project – “One region – one enterprise” which be realized by OJSC “GF” and found complete understanding by his side. The mayor said that the working commission would be created for selection criteria for projects and enterprises. The sides agreed to prepare and sign appropriate agreement on cooperation on OROE project.

Bishkek-Tokmok-Bishkek, September 21, 2017.