India Development News & Foreign Investment Opportunities

Kyrgyzstan-India considering joint financing mechanisms

Aidarbekov wants to exploit full potential

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Aidarbekov wants to exploit full potential

 

FICCI.
The piicture says it all. Krygzystan and FICCI leaders.

Kyrgyzstan and India are considering establishment of joint financing mechanisms to accelerate two-way investment and trade in a wide range of areas including energy, IT, mining, textiles, education, medical and pharmaceutical sectors.

Impressing on such a system, the visiting Kyrgyzstan Foreign Affairs Minister, Chingiz Aidarbekov, said bilateral relations have risen to a new level.

But the full potential is yet to be realised for which it was imperative to remove barriers to trade and investment, he told ‘India-Kyrgyzstan Business Forum – From Intentions to Action – Only One Step’.

He said a special department on economic diplomacy had been set in the Kyrgyz Foreign Affairs Ministry and provinces were being encouraged to do the same.

He said there was a huge scope for investment from India in Kyrgyzstan’s energy sector, especially in hydropower generation.

Likewise, there was potential in mining and education, he added.

Manoj K. Bharti, Additional Secretary, Economic Diplomacy and States, Ministry of External Affairs, spoke of the need for ease of land and aerial connectivity between the two countries for greater people-to-people contact.

Shailendra Singh, Additional Secretary, DIPP, Ministry of Commerce and Industry, outlined the reforms undertaken by India by way of liberalising the FDI regime, simplification and rationalisation of rules, introduction of GST, simplification in procuring construction permits and introduction of the Insolvency and Bankruptcy Code.

Sandip Somany, President, FICCI and Vice Chairman & Managing Director, HSIL Ltd, held out FICCI’s three-point agenda focusing on enhancing cooperation in energy, education, railways, machinery, mining and metallurgy, IT, tourism and textiles; connecting Indian States with the provinces in Kyrgyzstan and deepening partnership in innovation and technology.

The forum was organised by FICCI, the Indian Government and the Kyrgyz Ministry of Foreign Affairs. fiinews.com

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