For the year 2022 and the first nine months of 2023, the total inflow of foreign direct investment (FDI) into Kyrgyzstan amounted to over $1.8 billion. In 2023, Kazakhstan, China, the Netherlands, Russia, and Turkey collectively invested around $440 million in Kyrgyzstan. The National Investment Agency of Kyrgyzstan shared details with the financial publication Economist.kg about the companies that invested in the Kyrgyz economy.
China
China was the largest investor in Kyrgyzstan, contributing approximately $157.8 million in the first nine months of the year. The funds were primarily directed towards enterprises in processing industries, as well as in the production of refined petroleum products, mining of minerals, and geological exploration. Additionally, investments were observed in the energy sector, particularly in projects related to the construction of hydroelectric power stations, such as the Sary-Jaz cascade, Upper Naryn cascade, Kambarata-1 HPP, Suusamyr-Kokomeren cascade, and projects involving solar and wind power stations.
Key Chinese investors in Kyrgyzstan include oil refineries "Dzhunda" and "Tokmok," Altynken LLC (Taldybuklak Levoberezhny deposit), and Kyrgyz-Chinese Investment Holding LLC, which is implementing the Eurasian Trade and Logistics Complex investment project. Other notable investors are Tian Shan Ceramic Factory, Full Gold Mining Company, JSC "Kichi-Chaarvat," Silk Way Industrial Park, and LLC "Corporation of the Tobacco Industry One Belt - One Road."
Russia
Total Russian investments in Kyrgyzstan over the first nine months of this year amounted to around $131.7 million. Russian investments of $78 million were directed towards the processing industry sector, while approximately $49.8 million went to wholesale and retail trade, as well as automobile and motorcycle repair. These two sectors accounted for 97% of the total investment inflow.
Russian investors allocated funds to companies in Talas and Chui regions, as well as in Bishkek and Osh. Companies such as "Alliance Altyn," "Kud Bros," "Bishkeksut," "Zavod Aynur," "Faberlic-Alat," "Azro Kyrgyzstan," "Gazprom Kyrgyzstan," "Road KG," "Macro Invest," "DAOGroup," "Gazpromneft-Asia," "Es El KJ," "Aero Osh," "Motavto-KG," and "NP Export-Import-KG" received investments.
Kazakhstan
Kazakhstan invested approximately $54.9 million since the beginning of the year. The funds were directed to the wholesale and retail trade sector, with around $19.4 million allocated to the repair of automobiles and motorcycles. The financial intermediation and insurance sector received investments of $18.3 million, while approximately $5.7 million went to the extraction of minerals.
Investors from Kazakhstan invested in companies in Jalal-Abad and Chui regions, as well as in Bishkek. Major direct investments were made in companies such as "Vertex Gold Company," "Adal Azyk," "Umай Group," "RG Brands Kyrgyzstan," "Asiamotors," "Ernst & Young Audit," and "TOO TANSU Construction."
Netherlands
The Netherlands secured the third position, investing around $54 million during the specified period. The country primarily invested in processing industries. Additionally, investments were made in wholesale and retail trade, information and communication, financial intermediation and insurance, and real estate operations.
Currently, companies with Dutch capital operating in Kyrgyzstan include Nur Telecom LLC (operating under the O! mobile operator brand), CJSC "Coca-Cola," and LLC "Microcredit Company "M Bulak."
Turkey
Turkey contributed approximately $43 million in foreign direct investment over the first nine months. The funds were invested in enterprises involved in the extraction of minerals, processing industries, wholesale and retail trade, financial intermediation and insurance, as well as real estate operations.
More than 300 companies with Turkish capital are currently operating in Kyrgyzstan, covering diverse sectors, including trade and entertainment centers (VEFA, Bishkek Park, Sheraton Hotel, Beta Stores, Beta Stores-2), banks (Demir Bank), and mining industry (Terexay mine and Eti Bakir).
As of now, the Turkish company Eti Bakir, belonging to the large Turkish Cengiz Holding, is actively involved in the development of deposits such as Terek, Terekkhan, and Perevalnoye in the Jalal-Abad region.
CentralasianLIGHT.org
December 29, 2023