US direct investment into Kyrgyzstan have grown 10 times since the beginning of the year

Almaty. July 11. Silkroadnews – Since the beginning of the year US direct investments into Kyrgyzstan has increased tenfold, KyrTAG informs quoting deputy minister of economy of the Kyrgyz Republic Eldar Abakirov.
Speaking on the trade and economic cooperation at the Kyrgyz-American business forum in Bishkek, the deputy minister said over the first three months of 2017 FDI from the United States amounted to around 13 million US dollars, which is ten times higher compared to the same period of 2016.
Among the most important economic activities for US investments there were financial services (67.3%), transport and communications (23.6%), and hotel and restaurant sector (5.9%).
2016 bilateral trade turnover amounted to 154.0 million dollars and have increased by US$31 million compared to 2015 (US$123.1 million), which clearly shows positive dynamics of two countries’ economic cooperation.
E. Abakirov emphasized the republic’s investment environment contributing to building the best business climate in the region.
“According to the World Bank’s report, Kyrgyzstan ranks 75th, having improved its position by 0.08 points. It will require you to follow two procedures and take three days to open a company in the Kyrgyz Republic, the costs related will make 2.7% of per capita income. These figures bring the republic to the 12th position in the world”, E. Abakirov said.
The American delegation have been represented by the companies AGCO, Baker&McKenzie and General Electric, the founding members of the US-Kyrgyz Business Council (USKGZBC), as well as representatives of such companies as: AES, Mobilized Construction, American Councils for International Education, Coca-Cola and others operating in different sectors of the US economy.