Regional Development is a Key to Success for Kyrgyzstan

Decree of the President of the Kyrgyz Republic Sooronbai Jeenbekov from January 10, 2018 on the announcement of 2018 as the Year of Regional Development declares serious tasks for all state organizations and departments on improvement of social and economic potential of regions, people’s lives and development of small and medium-sized enterprises.

 Favorable conditions for small and medium-sized enterprises are important for economic development of regions, the Decree states. Providing multiple investment opportunities will lead to the creation of new jobs, reduction of internal and external migration. The Government of the Republic is recommended to analyze the implementation of existing regional development programs by April 15, 2018 and in cooperation with local state administrations, local autho-rities make necessary adjustments, including:

–  introduction of the cluster approach to the social and economic development of regions, that will create additional jobs, with emphasis on development of pilot cities and regions based on growth indicators;

– creation of conditions for supporting small and medium-sized enterprises in regions, attraction of investments, activation of financial institutions and funds on loaning projects aimed at economic development of regions and creation of jobs;

– encouraging projects aimed at strengthening specialization of regions, enhancing their competitive advantages, creating conditions for export of products produced in regions;

– in cooperation with the Apparatus of the President of the Kyrgyz Republic and civil society institutions, to work with international donors and development partners on issues to prioritize grant, technical and loan support for regional development projects.

The decree of the President of the Kyrgyz Republic makes it clear that the key to the successful development of Kyrgyzstan is stable and consistent social and economic development of regions, where the majority of population lives. This Decree directly concerns OJSC “Guarantee Fund”, which operates in all regions of the republic. Most guarantees are issued to rural entrepreneurs and processors of agricultural products. OJSC “GF” contributes to the implementation of the Decree of the President of the Kyrgyz Republic by issuing guarantees to local entrepreneurs, assisting in development of their business and business plans and implementing other regional development projects of OJSC “Guarantee Fund”.

According to materials of the website