Kyrgyzstan proposes joint Central Asia-South Korea investment fund

Kyrgyzstan has proposed establishing a joint investment fund between Central Asian countries and South Korea to finance priority projects and expand the participation of Korean businesses in regional markets, President Sadyr Japarov made the proposal at the first Central Asia-Republic of Korea Summit, Report, citing the press service of the Kyrgyz president.

Speaking about economic cooperation between Central Asian countries and South Korea, Japarov proposed establishing a Council of State Investment Institutions within the existing consultation mechanism of industry ministers.

He also proposed creating a unified portfolio of priority projects and establishing a joint investment fund to finance such initiatives, localize production and expand the presence of Korean businesses in regional markets.

"Special attention was paid to technological cooperation, the application of artificial intelligence and digitalization. In this context, Sadyr Japarov proposed forming a network of joint pilot technology platforms," the statement said.

Japarov stressed that by the next meeting, the Central Asia-Republic of Korea format should demonstrate tangible results, including launched production facilities, attracted investments, implemented technologies and new opportunities for citizens.