Prime Minister of Kyrgyzstan proposes to establish the industrial development fund

Almaty. March 30. Silkroadnews - Kyrgyzstan shall think of creation of the industrial development fund, the prime minister of Kyrgyzstan Temir Sariyev announced, KyrTAG reports.

“One of the important tasks the government faces is to upgrade the republic’s production facilities and infrastructure,” T. Sariyev said at the round table “The role of investments in economic development” on Tuesday.
According to him, in this regard a technological aspect is one of the points of the governmental program of business environment development.

“The currently operating enterprises and the technologies they apply fall behind the modern trends. We shall catch up a lot in this regard. One of the examples is the Toktogul HPP, which has been operating for 40 years with the operational lifetime designed for 25 years only. This year we start an extensive reconstruction and all the hydroelectric units shall be replaced within 2-3 years. The same is the situation with all the industrial enterprises. To upgrade the production capacity is our first task,” - T. Sariyev said.

He noted among the other things the industrial development fund shall be considered as an organization to be used for granting loans.

“The major functions of the new body will be credit granting to the existing enterprises and exchanging the advanced industry technologies with them,” the prime minister said.