BISHKEK, Kyrgyzstan, February 28. President of Kyrgyzstan, Sadyr Zhaparov, laid the cornerstone for the construction of a facility for the production and sale of cars in the Sokuluk district of the Chuy region of Kyrgyzstan, Trend reports.
The main focus of the facility is assembling electric cars, commercial vehicles, passenger cars, and special equipment, as well as selling vehicles and related products in the international market.
The construction and launch of the facility are being carried out by the Cabinet of Ministers of Kyrgyzstan, local enterprises, and the Hubei Zhuoyue Group Chinese company. The investment volume for the first phase amounts to $115 million, with a projected capacity of over 80,000 cars per year.
In his address, the head of state noted that Kyrgyzstan's investment policy, including the provision of tax incentives, creates favorable conditions for investors. The president emphasized that rapid economic development is impossible without attracting external investments. He expressed confidence that this investment project will give a significant boost to the development of the automotive industry in the republic, increase the industry's share in GDP, and create additional jobs.
Zhaparov emphasized that alongside providing favorable conditions in the industry, efforts should be made to establish a national automobile brand for Kyrgyzstan by producing automobiles, manufacturing auto parts for import, and developing international trade.
Zhaparov outlined that achieving this goal will eliminate obstacles hindering the development of this sector, reduce associated costs, increase the country's economic revenues, and create jobs. He expressed his wish for this enterprise to mark the beginning of creating the brand "Made in Kyrgyzstan."
The Chinese Ambassador to Kyrgyzstan, Du Dewen, said that the commencement of the project is a result of the strategic partnership between the two countries. She thanked the president of Kyrgyzstan for his personal attention and support for business cooperation between the two countries and expressed hope that, through joint efforts, the project will be implemented and serve as a model for deepening the interaction between Kyrgyzstan and China.
The launch of the automobile manufacturing and sales enterprise is expected in August of the current year.