Published
04/03/2025, 17:37The Minister of Economy and Trade of the Kyrgyz Republic Bakyt Sydykov met with the international rating agency Fitch Ratings Inc. during which the issues of assigning a sovereign credit rating to Kyrgyzstan were discussed with the analysts.
During the meeting, the main indicators of socio-economic development of Kyrgyzstan, the ongoing reforms, strategic priorities of economic policy were presented.
Special attention was paid to key reforms aimed at attracting investment, modernising infrastructure and improving the business environment. These include measures to introduce digital tools in public administration, active development of industrial potential, provision of tax incentives to strategic sectors, improvement of legal regulation to protect the interests of investors.
Bakyt Sydykov noted that the Cabinet of Ministers of the Kyrgyz Republic is taking consistent measures to ensure macroeconomic stability, social protection of the population and development of a competitive environment. These measures will contribute to creating favourable conditions for business, expanding export opportunities and strengthening the country's financial system.
He emphasised that cooperation with the Fitch rating agency will further strengthen the international image of the Kyrgyz Republic and increase its investment attractiveness. He also expressed hope for objective monitoring of the country's rating and continuation of effective co-operation with the agency.
During the visit, Fitch analysts met with representatives of ministries and agencies and received detailed information on macroeconomic indicators, structural reforms in the sphere of digital development, trade and economic relations and attraction of foreign investment. The issues of mining and energy as key sectors of the Kyrgyz economy were also discussed separately.
Representatives of the agency plan to hold meetings with international financial institutions, which will allow for a comprehensive assessment of the economic situation in the country.
Back on 10 September 2024, the Ministry of Economy and Trade of the Kyrgyz Republic signed an agreement with the Fitch rating agency, which was an important step towards international recognition of the country's economic stability.
A positive assessment of Kyrgyzstan's sovereign credit rating will increase the confidence of international investors, facilitate the country's access to international financial markets, reduce the cost of borrowing and create additional opportunities for attracting long-term capital to the country's economy. It will also contribute to strengthening the business environment and creating new jobs.
