Kyrgyz economy minister identifies main challenge facing Eurasian countries in competition for investment

Competition between countries of the Eurasian region in the coming years will unfold not only for capital but also for quality ideas and investment projects, Minister of Economy and Commerce of Kyrgyzstan Bakyt Sydykov said during the plenary session "Eurasia 2030+: Investments, Growth and New Opportunities" at the Annual Meeting and Business Forum of the Eurasian Development Bank (EDB), Report informs.

He noted that one of the main constraints for the region's states today is the ability to promptly transform promising ideas into well-prepared projects that meet the requirements of international financial institutions and investors.

"In this regard, the EDB can play a special role. In our view, one of the key areas of the bank's activities in the coming years should be simplifying access for member countries to financial resources and expert support," the minister noted.

Speaking about the investment agenda until 2030, Sydykov emphasized that the success of countries will depend not only on the volumes of available capital.

"Competition between countries will occur not only for capital but also for quality ideas and projects. Investments come where there are prepared initiatives, transparent procedures, professional teams, and effective development institutions," he stated.

According to the minister, the key task for the region's states is to create conditions under which promising projects can undergo preparation more quickly and receive financing at early stages of implementation.

"Our goal is to make the Eurasian region a space where promising projects emerge faster, are prepared with higher quality, and gain access to financing at earlier stages," Sydykov emphasized.