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Kyrgyzstan economy and business is gradually scaling new heights of development since its independence from the Soviet block. Major economic reforms were introduced in the country in the post independence period. Consequently, economy and business in the country has witnessed progressive changes. After 1991, the economy of the country was subjected to a phase of privatization. The country welcomed new investments and sought to eliminate control over the economy. Over four hundred and fifty companies have been privatized in the country. The government of Kyrgyzstan is also planning to privatize some other sectors of the economy like telecommunications, aviation, mining and recreation. Economy and business at Kyrgyzstan is also attracting considerable foreign investments.
Economy and business of Kyrgyzstan is inextricably interwoven. With new economic progress of the country, business prospects are also becoming lucrative. The main business advantages of Kyrgyzstan are educated workers, huge reserves of natural resources, easily convertible currency, incentives for investors, well regulated central bank, low level of wages, welcoming attitude towards foreign investors and many more.
Kyrgyzstan economy and business is heavily dependent on the agricultural sector and mineral extraction sector. Fifty percent of the GDP is contributed by agriculture. The country also has extensive reserves of coal, uranium, antimony and gold. Other important industries contributing significantly to the economy of the country feature light manufacturing, electronic component, food processing and machinery. The government of Kyrgyzstan is also taking steps to improve the telecommunication industry of the country. There are seven well developed oil fields in Kyrgyzstan.
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Kyrgyzstan Economy and Business |
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