Kyrgyzstan President seeks UAE investments

Kyrgyz President Almazbek Atambaev has invited UAE businessmen to invest in his country’s promising sectors mainly mining, power and hotels.

Addressing Dubai Chamber of Commerce and Industry members, Atambaev highlighted the investment opportunities in his country, especially in the areas of mining of gold and aluminium as well as infrastructure including the building of power stations and hydropower substations, resorts and tourist hotels.

During the interactive session with UAE businessmen, Atambaev spoke about the investment potential in infrastructural projects including airports and transportation services, especially the building of a railway line linking the southern and central Asian countries with China. He urged UAE companies to engage in these investments which he said are key to the economic growth of Central Asia.

President Atambaev also informed about his country’s position in the field of energy generation and demand in export to neighbouring countries like Pakistan and India. He added that investment in the agricultural sector and packaging of food products is open to UAE companies.

“We are confident of the experience of Emirati businessmen in various economic sectors, which even European countries can benefit from, therefore, we want UAE businesses to come to our country and invest in the many promising sectors and enrich us with their experience,” he said.

The meeting was attended by Suhail Al Mazroui, UAE Minister of Energy, Mohammed Al Mehairbi, UAE Ambassador to Uzbekistan, Majid Al Shamsi, 1st Vice Chairman, Dubai Chamber, and Mohamed Thani Murshed Al Rumaithi Chairman of UAE Federations of Chambers of Commerce and Chairman of Abu Dhabi Chamber of Commerce and Industry.

Majid Al Shamsi said currently there are 49 Kyrgyz companies operating in Dubai and registered with Dubai Chamber while Dh2.1 billion was the emirate's non-oil trade with the country during the year 2013 as it occupied 65th position on the list of Dubai's trading partners.

He further stated that the Chamber is very keen to strengthen these ties with the Kyrgyz Republic, in line with its strategy of exploring promising markets of the Central Asian region for UAE companies.

Tolkunbek Abdygylov, Chairman, National Bank of Kyrgyz Republic, spoke about three ways of investments in the financial sector in his country including the establishment commercial banks, providing finance and provision of services and products through Islamic banking.

He pointed at some of the lucrative investment projects including a railway line linking Russia and Kazakhstan with Kyrgyzstan, at a project value of $6.8 billion, a power plant worth $1.2 billion, and a tourist hotel, worth $52 million as well as several agricultural projects.
 

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